PM Modi Launches e-RUPI , a newest digital payment system
The Government of India under the leadership of Prime Minister Narendra Modi introduced a plan to leverage the digital infrastructure for ensuring leak-proof delivery of its welfare schemes. As part of this, the Prime Minister launched the e-RUPI, a person-specific and purpose-specific payments system.
'Today the country is giving a new dimension to digital governance. e-RUPI voucher is going to play a huge role in making DBT (Direct Benefit Transfer) more effective in digital transactions in the country. This will help everyone in Targeted, Transparent and Leakage Free Delivery,' Prime Minister Modi said on launching this new digital system.
Earlier, the Prime Minister’s Office (PMO) said in a statement that e-RUPI is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services. It also ensures that the payment to the service provider is made only after the transaction is completed. Being prepaid in nature, it assures timely payment to the service provider without the involvement of any intermediary, the statement said.
In a nutshell, e-RUPI will be like the gift vouchers one gets after making a payment through Google Pay. These vouchers are redeemable at a specific store, with certain terms and conditions. e-RUPI will operate in a similar fashion. e-RUPI has been built by the National Payments Corporation of India (NPCI) on the UPI platform.