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PM Modi to launch e-Rupi today: How does it work, benefits, all you need to know

PM Modi to launch e-Rupi today: How does it work, benefits, all you need to know

e-Rupi has been developed by the National Payments Corporation of India on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority

e-Rupi has been developed by the National Payments Corporation of India e-Rupi has been developed by the National Payments Corporation of India

Prime Minister Narendra Modi will launch a person and purpose specific digital payments solution e-Rupi today. The launch will take place via video-conferencing. The PMO said that the Prime Minister has always championed digital initiatives and e-Rupi is one such venture.

e-Rupi has been developed by the National Payments Corporation of India on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority.

The PMO said that several programmes have been launched to ensure that benefits reach its intended beneficiaries in a targeted and leak-proof manner.

WHAT IS E-RUPI?

E-Rupi is a cashless and contactless instrument for digital payment. It is either QR code-based or SMS string-based e-voucher. This voucher when generated will reach the mobile of the beneficiaries. This voucher can be redeemed without a card, digital payments app or internet banking access.

This seamless one-time payment mechanism connects the sponsors of the services with the beneficiaries and service providers. It also ensures that payment to the service provider is made only after the transaction is completed.

E-RUPI BENEFITS

It is pre-paid in nature and assures timely payment to the service provider without the involvement of any intermediary.

It can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, TB eradication programmes, drugs and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies etc.

Private sectors too can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes, the statement said.

(With PTI inputs)

Also read: e-RUPI: PM Modi to launch new digital payment solution on Aug 2