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Prime Minister Narendra Modi inaugurated and launched the National Common Mobility Card (NCMC), in association with the State Bank of India (SBI). It is the first card of its kind and is developed under the "One Nation One Card" scheme, by the Ministry of Housing and Urban Affairs (MoHUA).
Holders will be able to pay for transport services including the metro, toll taxes, train tickets, parking charges, and bus fares. One can even by operator specific monthly passes or season tickets. The NCMC also allows users to withdraw money and use the card to shop. What makes it interesting is that the National Common Mobility Card is valid across the country.
Here's everything one needs to know about it:
1. The National Common Mobility Card is issued under the RuPay scheme.
RuPay is a domestic card scheme launched by the National Payments Corporation of India, and it aims to reduce transaction costs generated by foreign card schemes like Visa and Mastercard. Its almost like a debit card / credit card with lower transaction costs, therefore building savings for holders. As is, 25 banks including State Bank of India and Punjab Nation Bank issue these cards.
2. Cashback Benefits.
The biggest feature of the NCMC is that it functions as a debit or credit card meaning holders can use it at ATMs to withdraw money. When the NCMC card is used at a domestic ATM, it entitles users to 5% cashback. Using the card while in a foreign country guarantees a 10% cashback.
3. Make-In-India Initiative.
India relies on foreign Automatic Fare Collection Systems (AFC) and software. Most cities use different vendors, meaning cards issued in Mumbai for example, cannot be used anywhere else. The Ministry of Housing and Urban Affairs started the "One Nation One Card" scheme to standardize the collection systems, making it possible to use the same card across the country. There are two AFC systems developed, one called Swchalit Kiraya Automatic Fare Collection System, and the other Swachalit Gate.
The NCMC systems are in their testing phase across the Delhi Metro.
Thoughts About The National Common Mobility Card
This is a refreshing change. To use one card to make all travel payments across the country brings relief to all folks who travel, for work or otherwise. It also doubles up as an ATM card! Once streamlined, we expect we will save time spent at queues, and some moolah!