Know what is e-RUPI which Prime Minister Narendra Modi is going to launch today and how it will work and how you can get it.
Taking the first step towards digital currency, Prime Minister Narendra Modi is going to launch an electronic voucher based digital payment system named ‘e-RUPI’ today. The platform has been developed by National Payment Corporation of India (NPCI), Department of Financial Services, Ministry of Health and Family Welfare and National Health Authority. It will be a person-specific and purpose-specific payments system.
e-RUPI will be a cashless and contactless digital payment medium which will come in the form of SMS-string or QR code in 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 voucher in the name of any person will be given by the bank to the service provider only to that person.
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 for providing 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.
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