PM Narendra Modi launches e-RUPI; India’s new digital payment system

New Delhi: Prime Minister Narendra Modi launched India’s new digital payment system e-RUPI via video conferencing on Monday.

The platform is developed by the National Payments Corporation of India (NPCI) on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare, and the National Health Authority.

e-RUPI is a digital instrument for cashless and contactless payment. The e-RUPI will be delivered to the mobile phones of beneficiaries in form of an SMS-string based e-voucher or a QR code.

It will generally function like a prepaid gift-voucher that can be redeemed at specific accepting centres without any credit or debit card, a mobile app or internet banking.

It connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.

PM Modi has said that the platform will make DBT (direct benefit transfer) more effective in digital transactions in the country and give a new dimension to digital governance.

Here are the key points:

1. PM Narendra Modi has said that e-RUPI voucher will help make digital transactions more prevalent in the country.
2. The e-RUPI platform performs targeted, transparent and leakage free delivery.
3. The voucher is going to play a vital role in making direct benefit transaction (DBT) more effective in digital transactions in India.
4. It will give a new dimension to digital governance in the country.
5. If any general organisation wants to pay for treatment, education or for any other type of payment for someone then they can use e-RUPI instead of cash.
6. The platform will ensure that the money given by any organisation is used for the same work for which that amount was given.
7. PM Modi said that e-RUPI is an example of how India is moving forward & connecting people in the 21st century with the help of advanced technology.
8. Over Rs 17.5 lakh crore has been transferred directly to the accounts of the people via DBT through over 300 schemes happened through UPI.