SBI opens 'Nation First Transit Card' for digital fare payments

By Consultants Review Team Friday, 08 September 2023

theThe State Bank of India, country’s largest lender, has launched the ‘Nation First Transit Card’ facilitate the seamless and convenient customer commuting experience and ensure easy digital ticketing fare payments in metro, buses, water ferries, parking, etc., through a single card. In addition, individuals can also use this card for making retail and e-commerce payments. “At SBI, we are constantly strive to make banking and everyday life simpler for our customers. 

The Nation First Transit Card powered by RuPay and National Common Mobility Card (NCMC) technology, is set to revolutionize the commuting experience and is aligned with the national vision of “One Nation One Card", Dinesh Kumar Khara, chairman, SBI said. “We are proud to introduce a card that not only eases the lives of our customers but also contributes to the growth of our country," the SBI chairman added. India’s largest lender said it is also implementing NCMC based ticketing solution in MMRC Metro Line 3 and Agra Metro, which is in the advanced stage of execution and will be available to the public very soon.

SBI entered NCMC programs with transit operators in 2019. As a part of these NCMC programs, SBI successfully launched the “City1 Card", “Nagpur Metro MAHA Card", “MUMBAI1 Card", “GoSmart Card" and “Singara Chennai Card" in Noida Metro, Nagpur Metro, MMRDA Metro Lines 2A & 7, Kanpur Metro and Chennai Metro respectively. State Bank of India is the largest mortgage lender in the country. The home loan portfolio of the bank has crossed Rs 6.53 lakh crore. As of June 2023, the bank has a deposit base of over Rs 45.31 lakh crore with CASA ratio of 42.88 per cent and advances of more than Rs 33 lakh crore. SBI commands a market share of 33.4% and 19.5% in home loans and auto loans respectively.

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