In the Budget speech on July 05, Finance Minister Nirmala Sitharaman mentioned the benefits that were provided by the National Common Mobility Card that was launched this year in March. The card is dubbed as 'One Nation-One Card', wherein the Finance Minister went on to say that the NCMC (National Common Mobility Card) is an inter-operable transport card that lets users pay for retail shopping, parking, bus travel, cash withdrawal and toll tax.
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This indigenously-developed card runs on Rupay and is issued by banks on pre-paid, debit and credit card basis.
One Nation One Card key points
- The card could be used for payment across all segments that include retail shopping, smart city, metro, bus and suburban railways.
- It can be issued in the form of debit, credit or prepaid card via partnered bank.
- It can be used for paying parking and toll taxes.
- It can be used for bill payments, backed with thousands of offers.
- It will be similar to any RuPay debit/credit card, that will be available for more than 25 banks.
- It will offer 5 per cent cashback via ATMs as well as 10 per cent cashback at merchant outlets while travelling outside India.
- The card will be supported by Swagat, which is an indigenously developed Automatic Fare Collection Gate and Sweekar that is an Open Loop Automatic Fare Collection System that were both launched by PM Modi on 4th March.
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