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SBI introduces NAV-eCash card
October 05, 2021
Indian Navy and State Bank of India (SBI) introduced SBI’s NAV-eCash Card locally available to India’s biggest Naval Aircraft Carrier INS Vikramaditya in cue with Digital India drive.
C S Setty, Managing Director (Retail and Digital Banking), SBI, and Vice Admiral R Harikumar, Flag Officer Commanding-in-Chief, Western Naval Command were present at the launch of this card.
Talking at the event, CS Setty, MD (Retail and Digital Banking), SBI, underlined the bank’s responsibility towards defense forces and the long relationship with the military of India.
The concept will be replicated at other naval ships and various defense establishments for creating a secured, convenient and sustainable payment environment.
The launch of SBI’s NAV-eCash Card is a significant achievement for digital payment solutions and SBI’s responsibility towards the GOI’s vision of Digital India and a cognizant shift towards a less-cash economy.
The unique infrastructure of naval ships inhibits traditional payment solutions especially when the ship is on high seas where there is no network. NAV-eCash Card with its dual-chip technology will facilitate both online as well as offline transactions.
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