e-RUPI Digital Payment Solution | UPSC

      HEADLINES:

PM to launch digital payment solution e-RUPI on 2nd August

      WHY IN NEWS:

Prime Minister Shri Narendra Modi will launch e-RUPI, a person and purpose specific digital payment solution on 2nd August 2021 via video conferencing.

SYLLABUS COVERED: GS 3: Economy

      ISSUE: 

e-RUPI DIGITAL PAYMENT SOLUTION

  • Prime Minister has always championed digital initiatives.
  • Over the years, several programmes have been launched to ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner, with limited touch points between the government and the beneficiary.
  • The concept of electronic voucher takes forward this vision of Good Governance.

ABOUT e-RUPI

  • e-RUPI is a cashless and contactless instrument for digital payment.

  • 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.

DEVELOPERS

SIGNIFICANCE

  • 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.

  • It is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.
  • Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes.

      IASbhai WINDUP: 

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.
     SOURCES:  PIB  | e-RUPI Digital Payment Solution | UPSC

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