August 5, 2021
Prime Minister Narendra Modi on Monday launched e-RUPI, a digital payment solution, via video conferencing. The digital solution developed by the National Payments Corporation of India in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority, states to be a person and purpose-specific digital payment solution, according to the Hindu newspaper.
The digital solution is basically a prepaid voucher that can be issued directly to citizens after verifying the mobile and is based on QR code or SMS-based e-voucher, which is delivered to the cellphones of beneficiaries and can be reclaimed directly with the service provider.
India is already in fastrack with the digital payment solution. More than 300 cr transactions happened through UPI in July with over ₹6 lakh crore being transacted, said PM Modi. Speaking at the launch event, he also said “e-RUPI voucher will play a role in boosting digital transactions and Direct Benefit Transfer (DBT) in the country. This will help everyone in targeted, transparent and leakage-free delivery”. He further added, “e-RUPI is an example of how India is moving forward & connecting people in the 21st century with the help of advanced technology. I’m glad that it has started in the year when India is celebrating its 75th year of Independence”.
The big benefit of e-RUPI is that money can be used only for the purpose for which it is sent. “If the money is sent by the government for books, then e-RUPI will ensure that only the books are purchased. If money has been sent for the uniform, then it should be spent in its use, if money has been sent for fertilizer, then it should be spent in it,” PM Modi said.
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