PM Modi launches digital payment solution e-RUPI; here's what it is

Prime Minister Narendra Modi on Monday launched the digital payment solution -- e-RUPI via video conferencing. e-RUPI is a cashless and contactless platform for digital payments. The instrument acts as an e-voucher, which is based on a QR code or SMS string, delivered to the mobile phones of recipients.

The Prime Minister stated that with the launch of e-RUPI, the country is giving a new dimension to digital governance.

"eRUPI voucher is going to play a huge role in making DBT more effective in digital transactions in the country", said PM Modi. He added that e-RUPI will help everyone in "Targeted, Transparent and Leakage Free Delivery".

"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 it has started in the year when India is celebrating its 75th year of Independence," conveyed PM Narendra Modi.

The Prime Minister explained that e-RUPI is being rolled out in healthcare services to begin with. "Not only govt but if a non-govt organisation wants to support anyone in their education or medical treatment, then they can use e-RUPI instead of giving cash. This will assure that the amount donated is being used only for the said work," he added.

PM Modi noted that e-RUPI is both people and purpose-specific. "For the purpose for which any help or any benefit is being given, it will be used for that, this e-RUPI will ensure," said the Prime Minister.

The Prime Minister said the country is looking at technology as a tool to help alleviate poverty and to pursue progress. "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 Prime Minister said the Centre has transferred Rs 17.5 lakh crore to beneficiaries via direct benefit transfer under 300 central schemes. He added under PM Svanidhi Yojana, over 23 lakh street vendors and vendors have been helped. During the pandemic, about Rs 2,300 crore has been transferred to them. The Prime Minister has urged state governments to use e-RUPI for efficient management of their schemes.

PM Narendra Modi said India is adopting Fintech solutions at a fast pace. "Fintech promises immense growth prospects for youth," he said. The world is appreciated the work done in India regarding  digital infrastructure and digital transactions during the past 6-7 years, he added.

Also read: e-RUPI: PM Modi to launch new digital payment solution on Aug 2

Also read: PM Modi to launch e-Rupi today: How does it work, benefits, all you need to know