- It is launched by PM Narendra Modi
- The service is meant to deliver welfare schemes
- It will be delivered directly to the mobile of a beneficiary
The Honorable Prime Minister of the country Narendra Modi has launched India’s first digital currency set up called e-RUPI and the same is meant to deliver welfare schemes directly to the beneficiaries mobile. In this article, I will explain everything about the newly announced e-RUPI.
All you need to know about the e-RUPI
The newly unveiled e-RUPI is a cashless and contactless payment solution by the government of India. The e-RUPI will offer vouchers via a QR code or SMS-string, the same will be delivered to the mobile of a beneficiary. It can be redeemed without any card, digital payment app, or Internet banking access, we can say that it is similar to a gift card. In other words, it is a setup that will provide benefits without any physical interface.
The government of the country will use the new payment solution to deliver welfare schemes to the beneficiaries. The new setup will be used to deliver services under schemes on drugs and nutritional support, under Mother and Child welfare schemes,
Moreover, it will be used for TB eradication programmes, drugs and diagnostics, and other schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc. Besides, even the private sector can make use of this concept for their employee welfare and CSR initiatives.
Having said that, the latest e-RUPI is developed by the National Payments Corporation of India (NPCI) and that is based on its UPI platform in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare, and National Health Authority.
So what are your thoughts on the latest e-RUPI? Do let us know in the comments section below and stay tuned with us for more interesting information from the technological world at your fingertips.