Honourable PM Narendra Modi inaugurated e-RUPI, a personal & function-based cashless payment system, through videoconference on 2nd August. In his remarks on the occasion, he stated that the e-RUPI voucher represented India’s evolution by linking human lives with tech. He was overjoyed that such a forward-thinking reform proposal had arrived when people were commemorating the 75th Independence Day.
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In contrast to the administration, he added that if any company wanted to support anyone with their health, schooling, or another task, they could provide an e-RUPI voucher rather than cash. It will assure that the cash he gave is being used for the purpose under which it was donated.
According to the Prime Minister, “eRUPI would guarantee that the funds are utilised for such objective in which any aid or assistance is being offered.” There was a period when the tech was seen to be the realm of the wealthy, with no place for it in an impoverished nation like India. “Nowadays, we view tech as a means to serve the underprivileged, an instrument for their advancement,” he said.
e-RUPI Will Open New Opportunities
Mr Modi stated that tech helped in increasing clarity and integrity in transactions, as well as providing new possibilities and rendering them accessible to the underprivileged.
Over the years, the groundwork for today’s unique offering was laid by developing the JAM system, which merged mobile with Aadhaar. “The advantages of JAM took a while to become obvious to folks, and we witnessed how much we can aid the poor throughout the lockdown era whereas other nations struggled to aid their people,” he added.
Uses Of E-RUPI
The service provider would be paid once the transaction is completed through the e-RUPI system. This payment network would be prepaid, thus there will be no need for a middleman to release funds to the service provider. Aside from that, this system could be used to offer services under initiatives that provide drugs and dietary assistance, such as the mom and baby healthcare scheme, the tuberculosis eradication programme, drug and diagnostic facilities underneath the Ayushmann Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies, and so forth. This effort will provide a leak-proof innovative supply of social services.