Prime Minister Narendra Modi is all set to launch a person and purpose-specific digital payment solution on 2 August, 2021 at 4:30 p.m. in the evening. He will be launching the digital payment solution via video conferencing. But what is the digital payment solution that will be launched by PM Modi on Monday? Read on to know more about e-RUPI
According to a press release by the PMO, 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 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. It has been developed by the 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.
The release further also highlights how the instrument functions. 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.
As a part of the Indian Government's Digital India venture, this digital payment solution will be very helpful in the direction of ensuring a leak-proof delivery of welfare services. It can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, TB eradication programmes, drugs & diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc. Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes.
PM Modi under his Digital India programme has launched several initiatives towards a digitally empowered and knowledge economy. Some of the facilities provided under Digital India services are Broadband Highways, Universal Access to Mobile Connectivity, Public Internet Access Programme, e-Governance: Reforming Government through Technology, e-Kranti - Electronic Delivery of Services, and many more.
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