e-RUPI may be a cashless and contactless person- and purpose-specific digital payment solution launched by Prime Minister Narendra Modi via video conference on 2nd August 2021.
Addressing the event, the Prime Minister said that the e-RUPI voucher goes to plays an enormous role in making DBT simpler in digital transactions within the country and can provide a new dimension to digital governance.
This will help everyone in targeted, transparent, and leakage-free delivery. He said e-RUPI may be a symbol of how India is progressing by connecting people’s lives with technology.
e-Rupi Digital
While launching this “e-RUPI”. a number of the upper institutions and government agencies of the country just like the National Payments Corporation of India (NPCI), Department of monetary Services, Ministry of Health and Family Welfare, and National Health Authority, etc. have jointly developed this app.
This app, being launched in India as e-Rupi Digital Payment, is taken into account to be excellent and reliable.
Customers using this app can securely transfer their money from one account to a different sort of payment.
With this app being launched under the name “e-RUPI”, you’ll make digital payments in any part of the country.
The main objective of this app is to market digital payment within the country.
e-RUPI are often issued by a government or by corporates to their employees for targeted use because it only allows purchase from merchant outlets, but doesn’t permit direct cash-out or peer-to-peer transfer.
| Currency | Digital |
| Under | Reserve Bank of India |
| Introduced by | PM Narendra Modi Ji |
| Know about | How to use Digital e-Rupee? |
| Check | What is Digital Rupi? |
| Launch Date | 02 August 2021, 04:30 PM |
| Under | Central Government of India |
Open new upstox trading account in 2021
What is e-RUPI?
It is a QR code or SMS-based e-voucher, which is delivered to the mobile of the beneficiary.
Users of this seamless one-time payment mechanism are going to be ready to redeem vouchers at service providers without cards, digital payment app, or internet banking access.
It has been developed by the National Payments Corporation of India.
collaboration with the department of monetary services, health ministry, and therefore the National Health Authority.
How to use e-RUPI vouchers
These vouchers are like e-gift cards, which are prepaid in nature. The code of the cards is often shared either via SMS or the OR code is often shared.
These e-vouchers are going to be person and purpose-specific. albeit one doesn’t have a checking account or a digital payment app or a smartphone can enjoy these vouchers.
How will these e-Rupi vouchers be issued?
This system has been prepared by NPCI on its UPI platform, during which many banks have also been linked.
The banks to be incorporated are made a serious a part of it as issuing institutions.
Through this system, medicines and nutritional assistance are going to be provided under maternal and child welfare schemes, TB eradication programs in order that the assistance given directly reaches the beneficiary.
In this system, the beneficiary is going to be identified by their mobile number.
The vouchers issued by this technique are often used only by the person to whom he would are allotted e-Rupi vouchers.
In a statement issued by the PMO, it had been said that Sakar also can use this technique in Ayushman Bharat, Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc.
Where will e-RUPI vouchers be used?
These vouchers are going to be used mostly for health-related payments. Corporates can issue these vouchers for his or her employees.
List of banks that are accepted e-RUPI
InfrasoftTech provides an e-RUPI technology stack to banks by helping them in implementing the technology – right from integration with the prevailing systems to deployment as per their target beneficiaries.
Currently, it’s working with only two banks as per NPCI. it’s shortly adding more client banks with e-RUPI features.
The two banks are Punjab commercial bank and Bank of Baroda.