The largest lender in the nation, State Bank of India, has introduced the "Nation First Transit Card" to make it easier for customers to commute and to pay for parking, water ferries, buses and other forms of public transportation using a single card. Additionally, people can use this card to pay for things in stores and online.
"At SBI, we never stop working to simplify banking and daily life for our consumers. According to Dinesh Kumar Khara, chairman of SBI, the Nation First Transit Card, which is supported by RuPay and National Common Mobility Card (NCMC) technology, would revolutionise the way people commute and is in line with the government's "One Nation One Card" initiative.
The SBI chairman continued, "We are happy to create a card that not only improves the lives of our clients but also aids in the development of our nation. The biggest lender in India announced that it is also putting in place an NCMC-based ticketing system in the MMRC Metro Line 3 and Agra Metro, which is currently in the advanced stages of execution and will be made public very soon.
With transit operators, SBI began NCMC programmes in 2019. SBI successfully introduced the "City1 Card," "Nagpur Metro MAHA Card," "MUMBAI1 Card," "GoSmart Card," and "Singara Chennai Card" as a part of these NCMC programmes in the metro systems of Noida, Nagpur, MMRDA Metro Lines 2A & 7, Kanpur, and Chennai, respectively.
The biggest mortgage lender in the country is State Bank of India. The bank's home loan portfolio has surpassed 6.53 lakh crore. The bank had over 45.31 lakh crore in deposits as of June 2023, with a CASA ratio of 42.88 percent and advances totaling over 33 lakh crore. In terms of home loans and auto loans, SBI holds a market share of 33.4% and 19.5%, respectively.