Everything about e-RUPI

What is e-RUPI and how does it work?

e-RUPI is basically a digital voucher that a beneficiary gets on his phone in the form of an SMS or QR code.
It is a pre-paid voucher, which he/she can go and redeem it at any centre that accepts its.
For example, if the Government wants to cover a particular treatment of an employee in a specified hospital, it can issue an e-RUPI voucher for the determined amount through a partner bank.
The employee will receive an SMS or a QR Code on his feature phone/smartphone. He/she can go to the specified hospital, avail of the services and pay through the e-RUPI voucher received on his phone.
Thus e-RUPI is a one-time contactless, cashless voucher-based mode of payment that helps users redeem the voucher without a card, digital payments app, or internet banking access.
e-RUPI should not be confused with Digital Currency which the Reserve Bank of India is contemplating. Instead, e-RUPI is a person-specific, even purpose-specific digital voucher.

How is e-RUPI advantageous to the Consumer?

e-RUPI does not require the beneficiary to have a bank account, a major distinguishing feature as compared to other digital payment forms. It ensures an easy, contactless two-step redemption process that does not require sharing of personal details either.
Another advantage is that e-RUPI is operable on basic phones also, and hence it can be used by persons who do not own smartphones or in places that lack an internet connection.

What are the benefits of e-RUPI for the sponsors?

e-RUPI is expected to play a major role in strengthening Direct-Benefit Transfer and making it more transparent. Since there is no need for physical issuance of vouchers, it will also lead to some cost savings as well.

What benefits accrue to the Service Providers?

Being a prepaid voucher, e-RUPI would assure real-time payments to the service provider.

Who has developed the e-RUPI?

The National Payments Corporation of India (NPCI), which oversees the digital payments ecosystem in India, has launched e-RUPI, a voucher-based payments system to promote cashless transactions.
It has been developed in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority.

Which Banks issue e-RUPI ?

NPCI has partnered with 11 banks for e-RUPI transactions. They are Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, Indian Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India and Union Bank of India.
The acquiring Apps are Bharat Pe, BHIM Baroda Merchant Pay, Pine Labs, PNB Merchant Pay and YoNo SBI Merchant Pay.

Where can e-RUPI be used now ?

To begin with, NPCI has tied up with more than 1,600 hospitals where e-RUPI can be redeemed.
Experts say, in the days to come the user base of e-RUPI is expected to widen, with even the private sector using it to deliver employee benefits and MSMEs adopting it for Business To Business (B2B) transactions.

Source: PIB

Join Our Telegram

World bank logistic performance index 2023

World bank logistic performance index 2023

28 Apr, 23
SHARE

India is now ranked 38th out of 139 nations in the Logistic Performance Index (LPI) 2023 of the World Bank. From its previous rankings of 44th in 2018 and 54th in 2014, this is a notable improvement. Earlier, the Logistics Ease Across Different States (LEADS) Report 2022 was published by the Ministry of Commerce and Industry. About Logi

Smuggling of Gold

28 Apr, 23
SHARE

Airports discovered more than 63% of this illegal gold. The Department of Revenue Intelligence recently conducted the Golden Dawn Operation across India, seizing 101.7 kg of illegal gold valued at Rs 51 crore. Despite the fact that India receives a legal import of about 800-1,000 tonnes of gold each year, the illicit market is thought to be

India-Thailand Relations

27 Apr, 23
SHARE

Both parties expressed satisfaction with the ongoing bilateral defence cooperation at the 8th India-Thailand Defence Dialogue, which was held in Bangkok, Thailand. Cultural ties and mutual cooperation that have been shaped by thousands of years of lasting historical and cultural ties characterise India and Thailand relations. Highlight

Translocation of Elephants

27 Apr, 23
SHARE

The Kerala government's appeal of the order of the Kerala High Court is rejected by the Supreme Court. The Kerala government's appeal against the Kerala High Court's directive to move Arikomban (Wild Elephant), the "rice tusker" of Munnar, to the Parambikulam tiger reserve was recently dismissed by the Supreme Court.

Global Buddhist Summit

26 Apr, 23
SHARE

Global Buddhist Summit In order to improve diplomatic and cultural ties with other nations, the Ministry of Culture recently organised the First Global Buddhist Summit 2023 in collaboration with the International Buddhist Confederation (IBC). About the summit "Responses to Contemporary Challenges: Philosophy to Praxis" is