Daily Current Affairs / SBI, Indian Navy launch ‘NAV-eCash’ card
Category : Business and economics Published on: October 06 2021
· SBI's ‘NAV-eCash’ card was inaugurated onboard the country's largest naval aircraft carrier, the INS Vikramaditya, by the State Bank of India and the Indian Navy.
· The card will eliminate the challenges faced by workers onboard in handling physical currency during the ship's deployment at sea, according to a statement from the bank.
· With its dual-chip technology, the ‘NAV-eCash card’ will enable both online and offline transactions.
Important Facts
About NAV-eCash’ card
v The concept of 'NAV-eCash' card has been created by a team of some officers of INS Vikramaditya. This card is equipped with dual chip card technology. With the help of this card, payment can be made both online and offline. Apart from this, this card can be used as a regular debit card and also as a prepaid card. However, this facility is available in online mode only. Please note that where real time internet facility is not available, this card can be used. These areas include warships at sea, oil platforms off the coast.
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