Prime Minister Narendra Modi has launched e-RUPI, a person and purpose-specific digital payment solution at 4:30 pm via video conferencing today. The PMO said it is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.
As the prime minister addresses the nation, here are the highlights of his speech:
The prime minister highlighting the importance of e-RUPI voucher said it will play a major role in strengthening DBT scheme. The DBT programme aims to transfer subsidies directly to the people through their bank accounts.
"Today the country is giving a new dimension to digital governance. The eRUPI voucher is going to play a huge role in making DBT more effective in digital transactions in the country. This will help everyone in Targeted, Transparent and Leakage Free Delivery," he said.
"The e-RUPI voucher, in a way, is a person as well as purpose-specific. For the purpose for which any help or any benefit is being given, it will be used for, this eRUPI is going to ensure," PM said.
The prime minister also said that the e-RUPI is an example of how India is moving forward and connecting people in the 21st century with the help of advanced technology. "I'm glad that it has started in the year when India is celebrating its 75th year of Independence," he said.
"Today we are looking at technology as a tool to help the poor, a tool for their progress," said Modi.
"Earlier in our country some people used to say that technology is only for the rich, India is a poor country, so what is the use of technology for India? When our government used to talk about making technology a mission, many politicians, certain types of experts used to question it," added Modi.
Modi said that India is now showing the world today that it is second to none in adopting technology and connecting with it. "When it comes to innovations, use of technology in service delivery, India has the ability to give global leadership along with big countries of the world," he said.
The Centre has started PM Svanidhi Yojana. "Today, in small and big cities of the country, more than 23 lakh street vendors and vendors have been helped under this scheme. In this Corona period, about Rs 2300 crore has been given to them," said PM.
What is e-RUPI?
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 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 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.
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.
It is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.
What are e-RUPI benefits to the consumer?
Following are e-RUPI benefits to the consumer:
Contactless - beneficiary should not carry a printout of the voucher
Easy redemption - 2 step redemption process
Safe and Secure - Beneficiary doesn't need to share personal details while redemption hence privacy is maintained
No digital or bank presence required - Consumer redeeming the voucher need not have a digital payment app or a bank account