Posts Tagged ‘Indian Ditital money e-RUPI’

erupi

The office stated that the eRUPI program will be one of the programs launched over the years to limit the point of contact between the government and beneficiaries and “ensure that benefits reach the intended beneficiaries in a targeted and leak-proof manner.” The Prime Minister issued a statement.

What is erupi?

eRUPI is a non-cash and contactless tool for digital payments. It acts as a voucher-based on a QR code or SMS chain and is sent to the beneficiary’s mobile phone.

Mudra Bank eRUPI digitally connects service initiators with beneficiaries and service providers without any physical interface. It also ensures that payment is made to the service provider only after the transaction is completed. It is prepaid in nature, which guarantees timely payment to the service provider without the involvement of any intermediary.

https://t.co/Pw9ZVOlMVk
All the best but we have to set up a mechanism to secure the interest & money of the common man. We are not much tech-savvy in India. The transaction and trust should be secure. @narendramodi @RBI @NPCI_NPCI @janpaksh @ghantasarkar

— जनपक्ष (@janpaksh) August 1, 2021

eRUPI’s single payment mechanism will allow users to redeem coupons at service providers without a card, digital payment application, or access to online banking. The
eRUPI platform was developed by the National Payments Corporation of India (NPCI) on its UPI platform in cooperation with the Ministry of Financial Services, the Ministry of Health and Family Welfare, and the National Health Service.

“It is expected to be a revolutionary measure to ensure that welfare services are leak-free. It can also be used to provide services under the Maternal and Child Benefit Plan, the Tuberculosis Eradication Plan, the Support Plan for medicine and nutrition under the Medication and Diagnosis Plan, such as Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, and other programs, ”said PMO.

NPCI to launch e-RUPI website soon, it will be the first Indian digital currency and only NPCI to be authorized to control, circulate and design framework of Indian digital online currency e-RUPI.

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