Karwar, Oct 02, 2021: In a step towards strengthening the Digital India initiative of the Government, the State Bank of India launched the NAV-eCash card onboard INS Vikramaditya at Karwar on Oct 1.
VAdm R Hari Kumar, Flag Officer Commanding-in-Chief, Western Naval Command, and CS Setty, Managing Director (Retail and Digital Banking), SBI unveiled the card.
NAV-eCash is a milestone in banking operations. It uses dual-chip card technology that enables payments, in the offline and online environment.
It also has all the features of a regular debit or prepaid card in the online mode.
It was conceptualized 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 places.