Mumbai, October 4: The Indian Navy and State Bank of India (SBI) have introduced SBI's NAV-eCash Card onboard India's biggest Naval Aircraft Carrier, INS Vikramaditya. The card was launched in the presence of C S Setty, SBI's Managing Director (Retail & Digital Banking), and Vice Admiral R Harikumar, Flag Officer Commanding-in-Chief of the Western Naval Command.

The Need Behind NAV-eCash Card

Traditional payment methods are hampered by the specific architecture of navy ships, particularly when the ship is at sea and there is no internet. The idea for such a card was developed together by SBI and Navy authorities, and the card meets the Navy's standards for a smooth aboard experience. Aadhaar Card for Newborn: Here’s How To Enroll For Your Child’s 12-Digit Unique Identification Number Using Just 2 Documents at uidai.gov.in.

The introduction of SBI's NAV-eCash Card also marks a key milestone for digital payment solutions and SBI's commitment to the GOI's goal of Digital India and a purposeful transition towards a less-cash economy.

NAV-eCash Card: Features and Benefits

With its dual-chip technology, the NAV-eCash Card will enable both online and offline transactions. The Card will eliminate the issues that workers onboard encounter when dealing with actual currency when the ship is deployed at sea. The new trip envisioned in the form of the NAV- eCash Card will transform the payment ecology while the ship is sailing by eliminating the need for cash to use any of the services on board.

The Card will eliminate the issues that workers onboard encounter when dealing with actual currency when the ship is deployed at sea. The new trip envisioned in the form of the NAV- eCash Card will transform the payment ecology while the ship is sailing by eliminating the need for cash to use any of the services on board. Aadhaar Card Holders Can Now Check and Verify Mobile Numbers, Email IDs Seeded With Aadhaar; Here’s How.

"The card is a unique milestone in banking operations and uses dual chip card technology that enables payments, in the offline and online environment. It also has all features of a regular debit or prepaid card in the online mode. It was conceptualised by a team of officers of INS Vikramaditya and brought to reality by the SBI, India’s largest public sector bank. It is designed to replace cash payments with digital transactions even in areas devoid of real time internet connectivity, like warships at sea, offshore oil platforms and remote areas", read the information provided by the Indian Navy on its official website.

(The above story first appeared on LatestLY on Oct 04, 2023 05:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).