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.
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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