PM launches new digital payment system e-RUPI, says it will play major role in strengthening DBT; key points-India News , Firstpost

The prime minister also said that the e-RUPI is an example of how India is moving forward and connecting people in the 21st century with the help of advanced technology

PM launches new digital payment system e-RUPI, says it will play major role in strengthening DBT; key points

e-RUPI Launch Today: What is e-RUPI? What are its Benefits and How to Use It

Prime Minister Narendra Modi Monday launched e-RUPI, a person and purpose-specific cashless digital payment solution and called it a “revolutionary initiative” in the direction of ensuring a leak-proof delivery of welfare services.

Launching an e-voucher that government and private entities can use to reach specific benefits like vaccination to the needy, Modi said that the mechanism will promote leakage-free targeted delivery system to make sure that appropriate relief reaches them.

He said the e-RUPI voucher was a symbol of how India was progressing by connecting people’s lives with technology.

He said the use of technology to deliver cooking gas subsidy, ration money and other social security schemes directly to bank accounts of beneficiaries has helped the government save Rs 1.78 lakh crore so far by plugging pilferages and weeding out fake beneficiaries.

Here are the highlights of the prime minister’s speech:

  • The prime minister highlighting the importance of e-RUPI voucher said it will play a major role in strengthening DBT scheme. The DBT programme aims to transfer subsidies directly to the people through their bank accounts.
  • “Today the country is giving a new dimension to digital governance. The eRUPI voucher is going to play a huge role in making DBT more effective in digital transactions in the country. This will help everyone in Targeted, Transparent and Leakage Free Delivery,” he said.
  • “The e-RUPI voucher, in a way, is a person as well as purpose-specific. For the purpose for which any help or any benefit is being given, it will be used for, this eRUPI is going to ensure,” he said.
  • “About 90 crore citizens in some way or the other are getting benefits like LPG subsidy transfer, pension, PM KISAN Yojana and scholarship through the platform. All these experiments have resulted in saving Rs 1.78 lakh crore of government money going to the wrong hands,” he said.
  • Modi said the government has transferred Rs 1.35 lakh crore so far since the launch of PM Kisan Samman Nidhi (PM-KISAN) Yojana while Rs 85,000 crore was transferred directly to farmers against wheat procurement this year, he said.
  • The prime minister also said that the e-RUPI is an example of how India is moving forward and connecting people in the 21st Century with the help of advanced technology. “I’m glad that it has started in the year when India is celebrating its 75th year of Independence,” he said.
  • “Today we are looking at technology as a tool to help the poor, a tool for their progress,” said Modi.
  • “Earlier in our country some people used to say that technology is only for the rich, India is a poor country, so what is the use of technology for India? When our government used to talk about making technology a mission, many politicians, certain types of experts used to question it,” added Modi.
  • Modi said that India is now showing the world today that it is second to none in adopting technology and connecting with it. “When it comes to innovations, use of technology in service delivery, India has the ability to give global leadership along with big countries of the world,” he said.
  • The Centre has started PM Svanidhi Yojana. “Today, in small and big cities of the country, more than 23 lakh street vendors and vendors have been helped under this scheme. In this Corona period, about Rs 2300 crore has been given to them,” said PM.
  • Narendra Modi praising India’s digital infrastructure said that the world is accepting the iron of the work that has been done in the last 6-7 years for digital infrastructure and digital transactions in the country. “Especially in India, a huge base of fintech has been created. Such a base is not there even in big countries,” he said.

What is e-RUPI?

  • e-RUPI is a cashless and contactless instrument for digital payment. It is a QR code or SMS string-based e-Voucher, which is delivered to the mobile of the beneficiaries.
  • The users of this one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the service provider.
  • It has been developed by 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 connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface. It also ensures that the payment to the service provider is made only after the transaction is completed. Being pre-paid in nature, it assures timely payment to the service provider without the involvement of any intermediary.
  • It is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.
  • Not only the government, if any general organisation or organisation wants to help someone in their treatment, in their education or for any other work, then they will be able to give e-RUPI instead of cash, he said.

What are e-RUPI benefits to the consumer?

Following are e-RUPI benefits to the consumer:

  • Contactless: Beneficiary need not carry a printout of the voucher
  • Easy redemption: Two-step redemption process
  • Safe and Secure: Beneficiary doesn’t need to share personal details while redemption hence privacy is maintained
  • No digital or bank presence required: Consumer redeeming the voucher need not have a digital payment app or a bank account

With inputs from PTI

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