Federal Bank launches RuPay NCMC Wallet Debit Card

Current Context: Federal Bank launched the RuPay NCMC Wallet Debit Card on Monday, February 5, 2024.

• This card is a dual-interface card supporting both online (contact and contactless) and offline (contactless) transactions.
• The National Common Mobility Card (NCMC) is a feature introduced on RuPay Contactless Debit Card which allows cardholders to make payments across NCMC-enabled terminals at metro stations, buses, etc in an offline mode, just by tapping the card on the card reader.
• To activate the NCMC functionality and begin using the card for offline transactions, cardholders are required to enable the “contactless feature” through mobile banking, internet banking, or IVR.
• This initiative is a step towards streamlining travel experiences by digitising payments.

Question:

Q.1 What does NCMC stand for in the context of the RuPay NCMC Wallet Debit Card?
a. National Common Mobility Card
b. National Common Monetary Card
c. National Common Market Card
d. National Common Money Card