Mumbai: Indian Overseas Bank (IOB) has signed a Memorandum of Understanding (MoU) with Mumbai Metro One Private Limited (MMOPL) to roll out innovative digital ticketing solutions for commuters on Metro Line 1, connecting Versova–Andheri–Ghatkopar.
The agreement was signed in Mumbai by Ranjay Kumar Mishra, General Manager, IOB Mumbai Region, and Shivprakash Singh, Company Secretary, MMOPL, in the presence of Ajay Kumar Srivastava, MD & CEO of IOB (via video conference), and Shyamantak Choudhury, CEO of MMOPL.
Srivastava said the collaboration underscores IOB’s commitment to leveraging technology to enhance urban mobility. “Public transport is the lifeline of cities, and IOB is proud to offer commuters secure, cashless, and convenient travel experiences. We also plan to extend such solutions to other metro networks across India,” he noted.
Under the MoU, IOB will enable smart card issuance for regular commuters along with paper and QR-based ticketing systems, fully integrated with Mumbai Metro’s ticketing APIs for real-time validation and instant confirmation.
With over 4.5 lakh daily riders and 3 lakh+ transactions, Metro Line 1 is a key transport lifeline in Mumbai. The partnership aims to boost commuter convenience while promoting wider adoption of digital payments in public transport.
