What is e-Rupee Digital Payment Solution?


E-Ruby / E-Ruby, Specific person and purpose Digital payment solution / digital payment solution, Launched by video conferencing by Prime Minister Narendra Modi at 4:30 pm on Monday. Emphasizing that Prime Minister Modi has always been taking digital initiatives, the Prime Minister’s Office has in the last few years launched several projects to ensure targeted and leak-proof with limited contact points between government and government. , Benefits reach their intended beneficiaries and beneficiaries.

What is e-Ruby Digital Payment Solution?

What is e-Rupee Digital Payment Solution? -: The concept of electronic vouchers further enhances this view of good governance. The BMO said in its statement E-Ruby Digital Charge / e-Ruby Digital Charge It is a cashless and unrelated mechanism, the report said QR code / QR code Or SMS string based e-voucher / SMS string based e-voucher It is provided on the mobile of the users.

Users of this unrestricted one-time payment mechanism can retrieve the voucher without accessing the service provider card, digital payment application or internet banking. It was developed by the Indian National Payments Agency in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare and the National Health Authority on its UPI site.

Connects sponsors of e-service services digitally with users and service providers without any physical interface. This ensures payment is made to the service provider only after the transaction is completed. This ensures for the service provider to make timely payments without the involvement of any intermediaries as they are prepaid in nature.

It is expected to be a revolutionary effort to ensure leak-proof distribution of welfare services. It can also be used to provide services under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana and Fertilizer Subsidy. These digital vouchers are available under the Private Employee Welfare and Corporate Social Responsibility Scheme.

Key points of e-Ruby cashless digital payment system

Key points of e-rupee cashless digital payment system -: Prime Minister Narendra Modi on Monday by video conferencing New Digital Payment System e-Ruby / New Digital Payment System e-Ruby Launched. This National Payments Agency of India (NPCI) Developed on its UPI site in collaboration with the Department of Financial Services, the Ministry of Health and Family Welfare and the National Health Authority.

  • Electronic rupee vouchers will enable a large number of digital transactions in the country.
  • Today the country is adding a new dimension to digital management through e-Ruby.
  • Vouchers are going to play a key role in making Direct Benefit Transactions (DBT) more effective in digital transactions in India.
  • This will help everyone in targeted, transparent and leak-free distribution.
  • Not only does this technology help the government, but if any public organization wants to help someone with their treatment, their education or any other job, they can give them electronic money in lieu of money.
  • The platform will ensure that the funds provided by any company are used for the same work for which the amount was paid.
  • E-Rupee is personal and purposeful. Today the thinking of the country is different and new. We see technology as a tool to help the poor, a tool for their advancement.
  • The e-rupee is an example of how India is advancing and connecting people in the 21st century with the help of advanced technology.
  • I am happy that India has started the year celebrating its 75th Independence Day.

Key features of e-Ruby digital payment

Key Features of E-Rupee Digital Charging -: E-Rupee is a cashless and contactless digital payment medium that is delivered to users’ mobile phones in the form of SMS-string or QR code. It basically looks like a prepaid gift-voucher, which can be redeemed at certain acceptance centers without a specific credit or debit card, mobile app or internet banking. Connects sponsors of e-service services digitally with users and service providers without any physical interface.

  • Today India is showing the world that they are not equal in adopting and integrating technology.
  • When it comes to innovations, the use of technology in service delivery has enabled India to provide global leadership along with the major countries in the world.
  • The government has launched the Prime Minister Swanithi Yojana, which will help more than 23 lakh street vendors. During this Govt. Period, he was given about Rs 2,300 crore.
  • The world accepts the iron of the work done in the last 6-7 years for digital infrastructure and digital transactions in the country.
  • Fintech has developed a large platform, especially in India. This is not the case even in large countries.
  • e-
  • Rupee is a cashless and unrelated digital payment method.
  • It digitally connects service sponsors with users and service providers without any physical interface.

Process & application cases for issuing e-RUPI vouchers

Procedure and application cases for issuing electronic rupee vouchers: The system was built by NPCI on its UPI platform, and will include banks that will be the providers. Any corporate or government entity should approach the partner banks, both private and public sector lenders, with the details of specific individuals and the purpose of the payment. Beneficiaries will be identified using their mobile number and vouchers assigned to the service provider in the name of the individual issued by the bank will only be issued to that person.

According to the government, e-rupee is expected to ensure leak-free supply of welfare services. It is also used to provide services under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, Fertilizer Grant, etc. The government said the private sector could also receive these digital vouchers as part of its employee welfare and corporate social responsibility programs.

The government is already working to create a central bank digital currency and the introduction of e-rupee could highlight the gaps in the digital payment infrastructure necessary for the success of future digital currency. In fact, e-RUPI is supported by the current Indian Rupee because the uniqueness of the underlying asset and its purpose is different from that of a virtual currency and keep it close to the voucher based payment method.

Projects for Central Bank Digital Currency (CBDC) e-RUPI

Central Bank Digital Currency (CPTC) e-Rupee Plans -: The Reserve Bank of India has recently stated that it is working towards a central bank digital currency or CPTC – a step-by-step practical strategy for the central bank’s digital currency for digital currencies.

Speaking on a website on July 23, RBI Deputy Governor T Rabi Shankar said CBDCs “should not only benefit from the tariffs, but also protect the public in the context of turbulent private VCs”. .

In the past, RBI Governor Shaktikant Das had expressed concern over cryptocurrencies, but now the mood is shifting in favor of CPTCs on the street. Although CBDCs are conceptually similar to banknotes, the introduction of CBDCs involved changes in the legal structure because existing arrangements are primarily synchronized with the currency in paper form.


According to the Reserve Bank of India, there are at least four reasons why digital currencies are performing so well in India: First, there is a growing interest in digital payments in the country, especially in smaller segments. For transactions.



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