From UPSC perspective, the following things are important :
Prelims level : Nation First Transit Card
Mains level : Not Much
- State Bank of India (SBI) unveiled the ‘Nation First Transit Card’ for seamless and convenient digital fare payments.
- The card is designed to enhance the commuting experience by facilitating digital ticketing across various modes of transport and parking, all within one card.
Nation First Transit Card
- Aims to streamline customer commuting and digital fare payments for metro, buses, water ferries, and parking through a single card.
- Provides versatility by enabling retail and e-commerce payments.
- Powered by RuPay and National Common Mobility Card (NCMC) technology.
Key Facts about the National Common Mobility Card (NCMC)
- Launched on March 4, 2019.
- Enables SBI customers to use their Debit Cards as travel cards for metro rail and buses in enabled locations.
- The concept originated from the Nandan Nilekani committee, established by the Reserve Bank of India (RBI).
- An initiative by the Ministry of Housing and Urban Affairs in India, promoting cashless transactions and a unified payment platform for commuters.
- Offers a unified contactless transport solution via the RuPay platform, developed by the National Payments Corporation of India (NPCI).
- Functions as an automatic fare collection system, transforming smartphones into interoperable transport cards for metro, bus, and suburban railway services.