In­dia’s largest bank teams up with the na­tion’s largest war­ship


INS Vikra­ma­ditya, the largest war­ship and lat­est air­craft car­rier of the In­dian Navy, has a strength of over 1,500 per­son­nel. A ver­sa­tile na­tional ca­pa­bil­ity and a full-fledged town­ship by her­self, the ship has a new ac­qui­si­tion — an ATM ma­chine in­stalled on­board by the na­tion’s largest bank and bank­ing net­work, the State Bank of In­dia (SBI). The one-of-a-kind ATM ma­chine was in­au­gu­rated on­board at a func­tion at the naval base Kar­war on Jan­uary 21, 2017, jointly by Rear Ad­mi­ral K.J. Ku­mar, Flag Of­fi­cer Com­mand­ing, Kar­nataka Naval Area, and Ra­jnish Ku­mar, Man­ag­ing Di­rec­tor and Group Ex­ec­u­tive (Na­tional Bank­ing Group), SBI.

The fa­cil­i­ties of­fered by the SBI to the ship in­clude cash with­drawals, gen­er­a­tion of mini-state­ments, ac­cess to bank bal­ance de­tails and change of PIN num­bers. In the near fu­ture, the fa­cil­ity will be up­graded to a re­cy­cler ma­chine with a cash de­posit fa­cil­ity. Ad­di­tion­ally, fa­cil­i­ties like cash trans­fer, card-to-card trans­fer, credit card pay­ment, mo­bile num­ber regis­tra­tion and up­da­tion would also be avail­able. The In­dian Navy has a mem­o­ran­dum of un­der­stand­ing with the SBI that op­er­ates de­fence salary pack­ages. This joint ven­ture be­tween In­dia’s largest war­ship and largest bank­ing net­work is a sig­nif­i­cant step to­wards ce­ment­ing the part­ner­ship be­tween the Navy and the bank fur­ther, un­der­lines the mu­tu­ally sup­port­ive rela- tions the two or­gan­i­sa­tions share. The ATM ma­chine is a unique float­ing bank­ing sys­tem, and along with the point of sale ma­chine that is also pro­posed to be in­stalled on­board, would go a long way in sup­port­ing cash­less trans­ac­tions on the ship, in line with the gov­ern­ment’s pol­icy of digi­tis­ing the In­dian econ­omy.

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