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e-RUPI Digital Payment Solution | UPSC
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.
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.
- 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.
- 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.
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.