Largest Bank with Largest Warship | PIB Summary

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, having a strength of over 1500 personnel has a new acquisition – an ATM machine installed onboard by the nation’s largest bank and banking network, the State Bank of India.

Highlights

The facilities offered by the State Bank of India 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 State Bank of India that operates Defence Salary Packages.

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 India economy.

This would extend the digital footprint of the country nautical miles beyond Indian shores.

For more information keep visiting Raj Malhotra IAS Academy

Leave a Comment

Your email address will not be published. Required fields are marked *