As you people know that PM Modi has launched E-Rupi digital payment. On 2 August 2021 Prime Minister Narendra Modi has today launched an electronic voucher-based digital payment system through video conferencing today.
During the Covid-19 pandemic, the E RUPI platform can be used in many ways. It can help in many social welfare schemes. If you want to know all the information about the E-Rupi, how does it work, benefits then read our full article.
What is E Rupi digital payment?
E RUPI is a digital payment platform, which has been made completely cashless and contactless. This digital platform will ensure that payment is made to the service provider only after the transaction is completed. It is based on QR code and SMS string which acts as an e-voucher.
We can’t hold the physical format of E-voucher and SMS. It can be directly transferred digitally to the beneficiary mobile number. No any credit/debit card, digital payment app, or internet banking will be required for the user to make payment under this service. It is totally cashless and contactless digital payment platform for the users of India.
E Rupi Key Highlights
| Scheme Name | e-RUPI Digital Payment |
| Launched By | Prime Minister Narendra Modi |
| Launch Date | 2 August 2021 |
| Beneficiary | People of India |
| Developed By | National Payments Corporation of India(NPCI) |
| Official Website | https://www.npci.org.in/ |
How E Rupi Works?
E RUPI digital payment platform has been developed by NPCI. The Full Form of NPCI is National Payments Corporation of India. E RUPI is developed on its UPI platform and involves banks who will be responsible for issuing these e-vouchers.
How E Vouchers are generated?
Here, e-vouchers means Electronic vouchers which can be used only digitally. For any corporate or government agency who want E vouchers, they will have to approach partner banks. 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.
E Rupi Benefits
It is being said that the e-RUPI platform can be used in many ways. It can help in many social welfare schemes. In this, Ayushman Bharat can prove to be helpful in schemes like Pradhan Mantri Jan Arogya Yojana, Fertilizer Subsidy. And Private Sector Employees can also use them. The aim of this digital payment solution is to make online payment more easy and secure.
- Corporates can enable well-being of their employees
- Contactless end to end digital transactions.
- All activity happened to E Voucher track by the issuer bank.
- The voucher distribution is Quick, safe & contactless
- No need to carry the Physical format of voucher
- Easy redemption – Voucher can be easily redeemed.
- E Rupi is Safe and Secure. Privacy is maintained by the issuer.
- Consumer does not need any bank account for voucher redemption.
Banks live with e-RUPI
| Sr. No. | Bank Name |
|---|---|
| 1 | Canara Bank |
| 2 | Bank of Baroda |
| 3 | Axis Bank |
| 4 | Kotak Bank |
| 5 | Indian Bank |
| 6 | Indusind Bank |
| 7 | ICICI Bank |
| 8 | HDFC Bank |
| 9 | Punjab National Bank |
| 10 | State Bank of India |
| 11 | Union Bank of India |
Features of e-Rupi
- According to the government, voucher can be delivered without any leakage through e-rupee.
- It can also be used for providing services under schemes like Mother and Child Welfare Schemes, medicines and fertilizer subsidy under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana etc.
- The private sector can also use these digital vouchers under its employee welfare and corporate social responsibility programs.
FAQs
E RUPI is a digital payment platform, which has been made completely cashless and contactless.
E RUPI digital payment platform has been developed by NPCI.
Here, e-vouchers mean Electronic vouchers which can be used only digitally.
The voucher distribution is Quick, safe & contactless
No need to carry the Physical format of the voucher
Easy redemption – Voucher can be easily redeemed
E Rupi digital payment launched by Prime Minister Narendra Modi of India.