What is National Common Mobility Debit (NCMC) card of Karnataka Bank?

Karnataka Bank Ltd. has launched the National Common Mobility Debit (NCMC) card. It is the first-ever contactless debit-cum-prepaid Rupay Card of the bank and is an inter-operable transport card. This debit card has been launched in-line with the Ministry of Housing and Urban Affairs’ vision. The Rupay-NCMC debit card was launched by the Managing Director & CEO of the bank, Mahabaleshwara M S.

Key Features of NCMC Rupay Card

• This is a user-friendly card and can be termed as One Nation One Card with various benefits.
• One of the features of the NCMC Rupay Card is “Tap & Go” through which people will be able to make payments without inserting or dipping the debit card at the PoS terminals. It means it is a completely contactless card.
• The NCMC-Rupay debit card can be used for payments at Retail outlets, Toll plazas, Smart cities, Metro transits, Parking lots, etc.
• Another feature of this debit card is “Wallet”. NCMC Rupay debit card will support small offline payments with the help of a value stored in the chip of the card.
• The Rupay-NCMC debit card will support domestic as well as international payments through PoS, ATMs and e-commerce platforms.

The MD & CEO of the bank said that the first contactless debit card of the bank will bring great changes in retail payments and transform digital payment system with the “Tap & Go” and offline wallet features.

About Karnataka Bank

Karnataka Bank Ltd is a private sector bank of the country headquartered in Mangalore, Karnataka. Recently, the bank has appointed former RBI Executive Director Uma Shankar as an independent Additional Director (Non-Executive). She took over the post on November 1, 2020.

In June 2020, the Karnataka Bank launched ‘KBL Micro Mitra’ for providing financial assistance upto 10 lakhs to micro manufacturing and service enterprises.

Month: Current Affairs - November, 2020