'One Nation-One Card': All you need to know about ATM-like travel card mentioned in Budget 2019
New Delhi, July 06: In the Budget speech on July 05, Finance Minister Nirmala Sitharaman hailed the benefits that were provided by 'One Nation-One Card' .
The National Transport Card (NTC) is based on India's first indigenous payment ecosystem for transport and is based on National Common Mobility Card (NCMC) standards, launched in March 2019. The indigenously-developed card runs on Rupay. It is issued by banks on debit/credit/pre-paid card basis.
"The NCMC standard developed is an inter-operable transport card that allows holders to pay for their bus travel, toll taxes, parking charges, retail shopping and withdraw cash," the finance minister said while dubbing the system as 'One Nation One Card'.
This new card will enable the holders to make payment for various kinds of transport charges across India such as toll taxes as well as metro services.
This way, the card will offer special convenience to those who rely on various modes of transportation for their daily commutation. Besides this, the NTC will also allow a user to make day to day retail payments.
Here are the key point you need to know about the 'One Nation One Card':
- The ATM like card could be used for payment across all segments that include retail shopping, smart city, metro, bus and suburban railways.
- 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 can be used for making payments across all segments including metro, bus, suburban railways, smart city and retail shopping.
- The card can also be used for paying at toll plazas and for parking.
- The card offers cashback on bill payments and more than thousand other offers.
- 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.