Table of Contents
- 1 What is e-RUPI | e rupee | How eRUPI Work | Benefits of eRUPEE | Erupi Digital Payment: All you need to know
What is e-RUPI | e rupee | How eRUPI Work | Benefits of eRUPEE | Erupi Digital Payment: All you need to know
e-RUPI is a Digital Payment Solution of India that has been launched on 2ndAugust 2021 by the Hon. Prime Minister of India Shri Narendra Modi. We will discuss all the details regarding the NPCI’s e-Rupi New Digital Currency, its benefits and importance through this article. We shall also share the e-RUPI India Digital Payment Solution App Download details, e rupees, e-rupi india, How e-RUPI Works, and Prepaid Vouchers details.
As we all know that how important payment Solutions are in today’s world, also most of us use them in our daily lives. During past years PM Modi has introduced various digital payment gateways and solutions, prior to the launch of e-RUPI. But this time e-RUPI is such an initiative that can bring revolution in Digital payment platforms. Let’s Check out what is e-RUPI and how one can use it, how to download e-RUPI App through NPCI?
What is eRupi?
e-RUPI is basically a digital prepaid voucher. Any beneficiary/ user of E-RUPI shall receive this on his mobile phone in the form of QR Code or SMS. This erupi/ erupee/ e-Rupi E-voucher could be used by the beneficiary only on the authorized centre/ shop, for which it has been issued. The E-voucher issued for the purpose of any particular service could not be used by the user for any other service. It has been developed by NPCI (National Payments Corporation of India), the organization which manages the UPI system in our country.
This will be most likely the first step towards cashless and contactless payment system in our country. It might also pave the path towards the development of a digital currency of the nation.
Official Website of eRupi
The Official website of erupi/ erupee/ e-Rupi could be accessed through website of NPCI. We have also provided the link to access the same. To Access Erupee website : Click Here
How erupi/ erupee/ e-Rupi works?
- Any government organization or any company (Public/ Private) shall have the facility to get e-RUPI voucher issued from the participating banks.
- The company could get a voucher issued for a required denomination and for a pre defined purpose through banks.
- The user, to whom this voucher was given by the company/ government organization could use it for the purpose of making payment, after availing the service/ after doing the purchase, according to the purpose for which this e voucher was issued.
- As soon as the service provider/ shopkeeper get this voucher, the amount of the voucher gets credited to his bank account.
- In this way, this Electronic Voucher could be used by the user, only for the purpose for which it was issued.
- Hence, it shall ensure that the user uses it for only that purpose for which the issuer has issued this voucher.
Read more about other Government Schemes:
- eDistrict UP – ई डिस्ट्रिक्ट up login, UP eDistrict , eDistrict up nic in
- E-Aadhar download online
Which Banks will issue erupi/ erupee/ e-Rupi Evouchers?
NPCI has currently collaborated with 11 banks for the purpose of transactions of erupi/ erupee/ e-Rupi/ e-RUPI vouchers. The departments/ companies/ organizations will be able to purchase this e-RUPI vouchers through these 11 banks:-
- State Bank of India
- Union Bank of India
- Punjab National Bank
- Kotak Mahindra Bank
- Indusind Bank
- Indian Bank
- ICICI Bank
- HDFC Bank
- Canara Bank
- Bank of Baroda
- Axis Bank
Bank Charges of Erupee: The Banks issuing these erupi/ erupee/ e-Rupi e-vouchers shall take minimal charges from the issuer, on account of handling/ processing expenses of these vouchers from NPCI. The exact charges will soon be updated here, as and when known.
Erupee benefits to the user:
e-RUPI is an onetime use Electronic Voucher. It could be used without any digital payment app, credit or debit card, internet banking. It will prove to be beneficial to all the stakeholders in this system of e-RUPI. As this erupi/ erupee/ e-Rupi could be used by the user without any bank account, smartphone or internet, the user could now easily avail different services easily.
It is being anticipated that the government would use this e-RUPI voucher in future for the purpose of providing subsidies of various government schemes. In that case, the chances of misuse of subsidy will be ruled out.
Erupee benefits to the Issuer
This erupi/ erupee/ e-Rupi voucher will prove to be of great benefit to the issuer organization/ company. Let us understand this with 2 examples.
- Rahul is an employee of executive level in company xyz.
- Rahul has to go out on official tour from Delhi to Chennai to attend a meeting.
- The company xyz instead of paying in cash for tour expenses, gives him e-RUPI voucher of Airlines, Hotel, taxi of the denominations, as per his entitlements.
- Rahul uses this E-RUPI voucher to purchase flight tickets, do hotel booking and pay for taxi services.
- Thus, in this case, here all the money defined for the purpose of official travel is used for the said purpose only.
- A State government has launched a scheme that it will provide laptop for higher education to the students scoring marks above 80% in 10+2/ 12th
- The government issues e-RUPIe-voucher to the qualifying students for the purchase of laptops.
- Th students will now purchase the laptop from the shop and pay using the e-RUPI e-voucher.
Benefit to the students
- No one would be able to act /become an intermediatary in the process. Thus the students would be able to purchase quality laptop of the latest make as per standards authorized by the paying authority.
- He will not have to go around government offices to get his file processed, to receive the awarded laptop, basically it will make the process hassle free.
Benefits to the Government:
- As there would not be any intermediatory, students will be able to get the laptops of the full amount that is being paid by the government.
- The amount issued to the student for the purpose of Laptop purchase could not be used for any other purpose, thus fully benefitting the students who have been awarded.
Use of erupi/ erupee/ e-Rupi in government schemes
This erupi/ erupee/ e-Rupi is likely to give a boost to many government schemes.
Many times, we could hear of the problems being faced in the Direct Benefit Transfer of subsidies. The government plans to provide, these subsidies to the beneficiaries through this e-RUPI voucher system.
This would prove to be one step ahead in terms of effectiveness and transparency. Beneficiaries who still does not have a bank account would also be able to get benefits of government schemes through this method of e-RUPI voucher.
Also, as many beneficiaries come from rural areas, and are more vulnerable to corruption, this e-RUPI is likely to ensure that full amount of subsidy/ government scheme benefits reaches them without any disturbance.
This e-RUPI voucher will also resolve the problem of delayed payments of subsidies to the beneficiaries. As this e-RUPI is a prepaid voucher, it will be made available to the beneficiaries beforehand. The beneficiaries will thus, be able to buy products/ services by just scanning these vouchers through QR code or SMS. The service provider will also get his payment instantly in his bank account, as soon as he receives this voucher from the user.
Thus, this e-RUPI will prove to provide targeted, transparent and leakage free benefits of the government schemes to the beneficiaries.
Use of erupi/ erupee/ e-Rupi in Covid 19 Vaccination
The e-RUPI could also be used by the companies for enhancing the rate of vaccination in the country. Let’s understand it through an example:
- Company who has to pay cash to his employee for vaccination, pays throughe-RUPI voucher.
- The employee goes to the hospital, gets vaccinated and pays through e-voucher.
- Through this e-RUPI voucher method, now it is ensured that the employee gets vaccinated, i.e., that particular amount paid by the company is used for the purpose of vaccination only.
- The employee gets protected as he gets vaccine for Covid19.
- In this way, it is equally beneficial for both the employer and the employee.
Where all can Erupi be used?
- Till now NPCI has ties up with more than 1.5 thousand hospitals, where payments could be done by e-RUPI, which most likely will expand in future.
- Government, on the other hand has planned to use e-RUPI/ in child welfare schemes, Ayushman Bharat scheme, vaccination drives and many such schemes.
- Private companies will also have the facility to provide Electronic Voucher to its employees for health, education, meals, shopping etc.
Check Latest Sarkari Naukari News: Click Here
- IDBI Bank Recruitment of Executives 2021
- Punjab Police Head Constable Recruitment 2021
- UPSC CDS II RECRUITMENT 2021
- Secunderabad Cantonment Board Recruitment 2021
- UP Panchayat Sahayak Recruitment 2021
- North Central Railway Apprentice Recruitment 2021