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PM To Launch e-RUPI Initiative Today: Here’s All You Need To Know About


At 4.30 p.m. today, Prime Minister Narendra Modi is all set to inaugurate e-RUPI, a voucher-based digital payment system. The interface would be a person-specific and purpose-specific payments system established by the National Payments Corporation of India (NPCI), the Department of Financial Services, the Ministry of Health and Family Welfare, and the National Health Authority. According to the press release issued on 31 July 2021 by PMO, "Prime Minister has always championed digital initiatives. Over the years, several programmes have been launched to ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner, with limited touch points between the government and the beneficiary. The concept of electronic voucher takes forward this vision of Good Governance."


What is e-RUPI?

What is e-RUPI?

e-RUPI is a digital payment mechanism where a QR code or SMS string-based e-Voucher is sent to the beneficiaries' mobile phones for making cashless, contactless, and seamless payments. Subscribers of this streamlined one-time payment approach will be allowed to redeem the e-voucher at the service operator without the usage of a card, digital payments application, or online banking account. It was established in conjunction with the Department of Financial Services, Ministry of Health & Family Welfare, and National Health Authority using the National Payments Corporation of India's UPI technology.

When it comes to conventional payment modes such as cash or cheques, digital payments are, without a doubt, significantly quicker and safer. PM Modi is expected to unveil India's first-person and purpose-specific digital payment solution through video conferencing today, with improved payment security, improved customer friendliness, zero processing costs, minimal risk of fraud, transparent accessibility, and contactless features.

How e-RUPI works?

How e-RUPI works?

National Payments Corporation of India has developed the e-RUPI digital payment solution on its UPI platform, where Unified Payments Interface or UPI is an instant payment method that facilitates inter-bank transactions or payments in real-time. e-RUPI platform, which was developed in conjunction with the Department of Financial Services, the Ministry of Health & Family Welfare, and the National Health Authority, connects service providers with beneficiaries and providers in an electronic way without the use of physical contact of a user.

According to the press release issued by PMO, "e-RUPI 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 involvement of any intermediary." This effort may be particularly advantageous to small and medium-sized enterprises (SMEs) since timely payment is important for cash management and the development of respected and valued connections with clientele.

Where e-RUPI digital payment solution can be used?

Where e-RUPI digital payment solution can be used?

PMO says "It is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services. 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, fertilizer subsidies etc. Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes."

Features of e-RUPI

Features of e-RUPI

According to National Health Authority, here are the features of e-RUPI which users can experience post of its debut today:

Benefits for corporates

  • Corporates can enable well-being of their employees by distributing the UPI Prepaid Vouchers
  • It is an end to end digital transaction and doesn't require any physical issuance (card / voucher) hence leading to cost reduction
  • Visibility for voucher utilisation - Voucher redemption can be tracked by the issuer
  • Quick, safe & contactless voucher distribution

Benefits for hospitals

  • Easy & Secure - Voucher is authorised via a verification code shared by the beneficiary
  • Hassle free & Contactless payment collection - Handling of cash or cards is not required
  • Quick redemption process - The e-voucher can be redeemed in a few steps and lesser decline due to pre-blocked amount

Benefits to the consumer

  • Contactless - Beneficiary need not carry a print out of the e-voucher
  • Easy redemption - It is a 2 step redemption process
  • Safe and Secure - Beneficiary doesn't need to share personal details and hence their privacy is maintained
  • Only mobile phone and e-voucher required - Customer redeeming the voucher need not have a digital payment app or a bank account
Benefits of e-RUPI

Benefits of e-RUPI

PM Modi announced in a recent tweet that "Digital technology is transforming lives in a major way and is furthering ‘Ease of Living.' At 4:30 PM tomorrow, 2nd August, will launch e-RUPI, a futuristic digital payment solution which offers several benefits for its users."PM Modi mentioned the following benefits of India's new digital payment method ahead of its debut at 4.30 p.m. today.

  • Cashless and contactless digital payment.
  • Connects service sponsors and beneficiaries digitally.
  • Ensures leak-proof delivery of various welfare services.
Banks that have incorporated e-RUPI

Banks that have incorporated e-RUPI

Here are the banks that have already implemented e-RUPI, according to the National Health Authority.

  • State Bank of India
  • HDFC Bank
  • Axis Bank
  • Punjab National Bank
  • Bank of Baroda
  • Canara Bank
  • IndusInd Bank
  • ICICI Bank

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