PM Modi launches e-RUPI

JNS: Prime Minister Narendra Modi launched e-RUPI, a cashless and contactless instrument for digital payment through video conferencing on Monday.

e-RUPI, a person and purpose specific digital payment solution, is a QR code or SMS string-based e-Voucher, which is delivered to the mobile of the beneficiaries. It will essentially function like a prepaid gift-voucher that will be redeemable at specific accepting centres without any credit or debit card, a mobile app or internet banking.

e-RUPI will connect the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.

Speaking on the occasion, Modi said, the country is giving a new dimension to digital governance and e-RUPI will play a great role in strengthening Direct Benefit Transfer, DBT.

He said, e-RUPI voucher will help everyone in targeted, transparent and leakage free delivery. The Centre is taking over 300 governmental schemes to the poor through DBT.

He said, one lakh 35 thousand crore rupees have been transferred to farmers under PM Kisan Samman Nidhi, 85 thousand crore rupees for government purchase of wheat were also disbursed in this manner. “The biggest benefit of this all is that one lakh 78 thousand crore rupees were prevented from going to the wrong hands,” added PM.

e-RUPI is a futuristic reform that is being initiated at the time when the country is to celebrate Bharat ki Azadi ka Amrit Mahotsav. e-RUPI vouchers are purpose – specific and will ensure that the benefits of the voucher are availed for the service it is meant for, said Modi adding, “if any organization wants to help people in their treatment or education or for any other purpose, then they will be able to give e-RUPI instead of cash.”

Every month, UPI transactions are setting new records. He said, in July, India has witnessed over 300 crore rupee UPI transactions. Additionally, RuPay card has been launched in Singapore and Bhutan, said Modi.

“At present, there are 66 crore RuPay card holders in India and the transactions worth thousands of crore rupees are being done through it,” he added.

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