PM Modi launches e-RUPI digital payment platform, learn how it works

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Prime Minister Narendra Modi on Monday launched the digital payment platform e-RUPI. This platform was launched during a video conference, in which PM Modi said, ‘Today the country is giving a new dimension to digital transactions. This process will go ahead with e-RUPI. e-RUPI is an electronic voucher, which will be received by the beneficiaries in the form of SMS or QR code and can be redeemed at specific centers without credit or debit card, mobile app or internet banking.

In the video conference, PM Modi said that this is a system in which transactions will be possible in a transparent and easy manner. Explain that through e-UPI, not only the government, but also any general institution or organization can help for the treatment, education or any other work of the beneficiary. For this, the beneficiary can be given e-RUPI instead of cash and e-RUPI will ensure that the voucher (digital money) received by the beneficiary is used only for the purpose for which the voucher has been given. Giving an example of this, PM Modi said that if money has been sent for books by the government, then e-RUPI will ensure that only books are bought. The money sent for the uniform should be spent for its use and the money sent for the fertilizer should be spent for that purpose.

The e-RUPI platform has been jointly launched by National Payments Corporation of India (NPCI), Department of Financial Services, Ministry of Health and Family Welfare and National Health Authority. This system is built on top of its UPI platform by NPCI and will be issued by all banks. Under this, any corporate or government agency will pay with a beneficiary or a specific purpose. The beneficiary will be identified through the mobile number and the service provider will have to approach the bank to generate the voucher. The bank will allot the voucher to the service provider, after which this voucher will be issued to the beneficiary. As we mentioned, the beneficiary will be able to use this voucher only for the purpose for which this voucher has been issued.

PM Modi said that India is showing the world today that the country is second to none in adopting technology and connecting with it. When it comes to innovations, use of technology in service delivery, India has the ability to give global leadership along with big countries of the world.

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