New Delhi: The much-awaited e-Rupi digital payment solution has been launched by Prime Minister Narendra Modi. PM Modi said that e-Rupi will help everyone in targeted transparent and leakage free delivery. e-Rupi is a symbol of how India is progressing by connecting people’s lives with technology, PM Modi said.Also Read - Saath Nibhana Saathiya Actor Vandana Vithlani Recalls Selling Rakhis to Pay Bills in 2020 Lockdown

e Rupi Digital Payment Solution: All You Need To Know

  1. e-Rupi is a person and purpose specific digital payment solution. It is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.
  2. e-Rupi is a symbol of how India is progressing by connecting people’s lives with technology, PM Modi said. It can also used for delivering services under schemes meant for providing drugs and nutritional support, Digital India stated.
  3. National Payments Corporation of India (NPCI) in association with Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks, has launched the – ‘e-RUPI’.
  4. The users of this seamless 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, Digital India stated.
  5. e-Rupi’s prepaid feature assures timely payment to the service provider without involvement of any intermediary.
  6. Notably, e-Rupi would be shared with the beneficiaries by organizations or Government through SMS or QR code.
  7. e-Rupi is contactless and keeps the details of beneficiaries absolutely confidential.
  8. Meanwhile, transaction through e-Rupi is faster and reliable as the required amount is already stored in the voucher.
  9. Beneficiary will not require to share personal details which redeeming the voucher and that’s why privacy is maintained.
  10. So far, banks that are associated with e-Rupi are Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, Indusind Bank, Indian Bank, Kotak Bank, Punjab National Bank, State Bank of India, Union Bank of India.
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