What is e-RUPI?
Taking the first step towards digital currency, Prime Minister Narendra Modi has today launched an electronic voucher-based digital payment system named ‘eRUPI’. The platform has been developed by the National Payment Corporation of India (NPCI), the Department of Financial Services, the Ministry of Health and Family Welfare, and the National Health Authority. It will be a person-specific and purpose-specific payments system.
eRUPI will be a cashless and contactless digital payment medium that will come in the form of an SMS string or QR code on the mobile phone of the beneficiary. Initially, it will be like a prepaid gift voucher and can be redeemed at specific accepting centers without any credit or debit card, mobile app, or internet banking. e-RUPI will connect the beneficiary to the sponsors of the services digitally without any physical interface.
How will these vouchers be issued?
The system has been developed by NPCI on its UPI platform and involves banks who will be responsible for issuing these vouchers. Any corporate or government agency will have to approach partner banks which can be both private and government, to get this. Along with this, information will also have to be given that for whom and for what purpose it is being taken. The beneficiary will be identified by their mobile number. The bank will issue a voucher in the name of a person to the service provider only to that person.
Where can e-RUPI be used?
Where can e-RUPI be used?
According to the government, e-RUPI will verify the leak-proof delivery of welfare services. It can be used to provide medicines and nutritional support under Mother and Child Welfare Scheme, TB Eradication Program, and facility under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana and Fertilizer Subsidy. Along with this, the government has also said that the private sector can also give digital vouchers to its employees under the Welfare and Corporate Social Responsibility Program.
