e-RUPI a tool for good governance
What is e-RUPI?
e-₹UPI which was launched with the support of Department of Financial Services and National Health Authority (NHA), powered by National Payments Corporation Of India (NPCI)
It is a QR code or SMS string-based e-Voucher, user can redeem this one-time payment voucher without a card, digital payments app or internet banking access, at the merchants accepting e-RUPI.
e-RUPI vouchers are purpose-specific and even if one does not have a bank account or a smartphone can benefit from these vouchers.
e-RUPI a tool for good governance
It can also be used for delivering services under schemes meant for providing drugs and diagnostics under schemes like Ayushman Bharat & Pradhan Mantri Jan Arogya Yojana.
Govt saved ₹1.78 lakh cr via direct transfer of subsidies, benefits.
e-RUPI is extended and efficient version of DBT which will promote leakage-free targeted delivery system to make sure that appropriate relief reaches the needy.
What are the pre-conditions?
The pre-conditions set for the voucher include a maximum payment limit of Rs 10,000 and is non-transferable. The identity will be linked to the beneficiary mobile number.
Which banks and acquiring app live with e-RUPI?
Currently 11 banks have come on board as partners, which includes HDFC Bank, ICICI Bank, Axis Bank, State Bank of India, Bank of Baroda, among others. Pine Labs and BharatPe are among the financial technology companies that have joined the project.
Pic Credit: - National Payments Corporation Of India (NPCI)
Source: -
https://www.npci.org.in/what-we-do/upi/upi-erupi
https://www.livemint.com/news/india/govt-saved-1-78-lakh-cr-via-direct-transfer-of-subsidies-benefits-pm-modi/amp-11627912759198.html?__twitter_impression=true
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