Tuesday, September 27, 2022

e-RUPI | Digital Payments India

- Advertisement -

What is e-RUPI?

e-RUPI is a new cashless payment solution, which will operate based on e-vouchers. The system has been developed by the National Payments Corporation of India in collaboration with the department of financial services, health ministry and the National Health Authority.

Know all about e-RUPI, the new digital payment instrument

How to use e-RUPI vouchers?

These vouchers are like prepaid e-gift cards. The code of the cards can be shared either via SMS or the QR code. These e-vouchers will be person and purpose-specific. For example, if you have an e-RUPI voucher for Covid-19 vaccine, then it has to be redeemed for vaccines only.

How is an e-RUPI voucher different from others?

- Advertisement -

E-RUPI is not any platform. It is a voucher meant for specific services. E-RUPI vouchers are purpose-specific. Even if a person does not have a bank account or a digital payment app or a smartphone, he/she can avail benefit from these vouchers.

These vouchers will be used mostly for health-related payments. 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, fertiliser subsidies etc. Corporates can issue these vouchers for their employees.

The person buying the vouchers and issuing them to others can track the utilisation of the vouchers. Privacy is another issue as the beneficiaries won’t have to share their personal details.

How to redeem e-RUPI vouchers?

- Advertisement -

No card or hard copy of the voucher is needed for redeeming e-RUPI vocuhers. e-RUPI vouchers can be redeemed through QR code received via message.

List of banks offering e-RUPI

According to National Health Authority, eight banks are already live with e-RUPI –

  1. State Bank of India
  2. Punjab National Bank
  3. Bank of Baroda
  4. Canara Bank
  5. HDFC Bank
  6. Axis Bank
  7. IndusInd Bank
  8. ICICI Bank

Are such vouchers used in other countries?

In the US, education vouchers or school vouchers, are used. Through these vouchers, subsidies are given directly to parents of students for the specific purpose of educating their children. In addition to the US, the school voucher system has been used in several other countries such as Colombia, Chile, Sweden, Hong Kong, etc.

Important Questions related to e-RUPI?

- Advertisement -

Question) The e-RUPI digital payment solutions has been developed by which organisation?
1.NPCI
2.SBI
3.PNB
4.Both 2 and 3

Answer – 1
The e-RUPI digital payment solutions has been developed by the National Payments Corporation of India in collaboration with the department of financial services, health ministry and the National Health Authority.


Question) The e-RUPI vouchers can be redemeed via –
A.QR code
B.SMS
C.Both
D.None

Answer – C
These vouchers are like prepaid e-gift cards. The code of the cards can be shared either via SMS or the QR code.


Question) Choose the correct statements related to e-RUPI-
1.E-RUPI vouchers are purpose-specific.
2.Person needs to have a bank account to avail e-RUPI services.
A.Only 1
B.Only 2
C.Both 1 and 2
D.Neither 1 nor 2

Answer – A
Even if a person does not have a bank account or a digital payment app or a smartphone, he/she can avail benefit from these vouchers.


Question) Choose the correct statements related to e-RUPI-
1.The person buying the vouchers and issuing them to others can track the utilisation of the vouchers.
2.Beneficiaries won’t have to share their personal details, thus providing privacy.
A.Only 1
B.Only 2
C.Both 1 and 2
D.Neither 1 nor 2

Answer – C

[wpdm_package id=’33085′]
(This PDF contains all the important government schemes. Once you purchase this PDF, you will receive free updates till 1 year. The price of PDF is just Rs.99/-.)

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Latest News