SBI launches NAV-eCash card in collaboration with the Indian navy

State Bank of India (SBI) and Indian Navy launched the lender’s NAV-eCash card onboard the country’s largest Naval Aircraft carrier INS Vikramaditya. The new journey envisioned for the card is set to change the payment ecosystem, while the ship is sailing with no dependency on utilisation of any form of cash to avail any of the services on board. SBI said that the “launch of NAV-eCash card is an important milestone for digital payment solution and the bank’s commitment towards the Centre’s vision of Digital India and a shift towards less-cash economy.”

The new NAV-eCash card will facilitate both online and offline transactions. The card will obviate the difficulties faced by personnel onboard in handling physical cash during deployment of the ship at high seas. The new journey envisioned in the form of a NAV-eCash Card will change the payment ecosystem while the ship is sailing with no dependency on cash for utilization of any of the services on board.