On August 2nd, Prime Minister Narendra Modi launched e-RUPI, a digital payment solution. He announced the launch of e-RUPI through a video conference and it aims to perform cashless transactions.
Prime Minister Narendra Modi stated that the e-RUPI is a symbol of the growth and connection of India with technology.
The Prime Minister, while launching the cashless payment solution, called it a “revolutionary initiative”
He stated that the launch of e-Rupi is precious as India will be celebrating Amrit Mahotsav on its 75th independence anniversary.
The central government clarified that if any organization wanted to provide service of education, treatment, or charity work, they can perform with the help of e-RUPI vouchers.
This will make sure that the money provided by the central government is provided for charity work. The Prime Minister said technology is always associated with luxury and richness and there was little scope for technology in a country like India.
Hence, eRUPI will ensure that the money given by the central government is put to good use and for the benefit of the people.
Prime Minister Modi highlighted that the growth in technology ensures that transparency and integrity provide opportunities to the poor.
The foundation of e-RUPI was prepared over the years using the JAM system. Narendra Modi stated that working on the JAM systems took some time because the motto of the e-RUPI is to help people during the lockdown period. JAM systems connect mobile phones and Aadhar numbers.
He stated that more than Rs 17.50 lakh has been transferred to the accounts of people with the use of Direct Benefit Transfer (DBT).
DBT schemes account for more than three thousand, which have been benefitting ninety crore Indians through LPG, medical treatments, ration, pension, wages, scholarships for students with financial issues.
Under the PM Kisan Samman Nidhi scheme, around Rs 1,35,000 crore rupees have been transferred for the development of farmers. Rs 1,78,000, was avoided from going to wrong-use with the help of e-RUPI.
Prime Minister Narendra Modi highlighted that digital transactions empowered poor families, small businesses, and tribal communities.
In the month of July, UPI transactions accounted for three hundred crores and were amounting up to Rs 6 lakh. The central government has also started a PM Svanidhi Yojana in small and big cities that will work for the welfare of twenty-three lakh vendors by providing them Rs 2,300.
He expressed satisfaction with the growth of technology in the country and stated that India is actively adopting and adapting to technology.
This ability can help the global leader in the country and help climb multiple ladders in the field of technology and digital business.
The e-RUPI has been developed by the National Payments Corporation of India in collaboration with the Ministry of Health and Family Welfare, the National Health authority, and the department of financial services.
It is a cashless instrument with a QR code or SMS-based e-voucher for easy redemption and secure transaction.