Introduction of e-RUPI Electronic Money Transfer System

 

Coupons will be sent to users' mobile if they pay in advance. If the SMS with coupon details is displayed at the service location, the money will be deducted according to the service.

Prime Minister Narendra Modi today launched a new digital money transaction system called e-Rupi. e-Rupi is going to play a major role in making digital benefit transfer more effective in digital transactions in the country. It will help everyone in targeting, transparency, and free distribution. 

Modi also said that while the country is celebrating its 75th year of independence, he is happy to introduce the scheme, saying, "Not only the government but also non-state individual institutions, if they want to help anyone for their education or medical expenses, they can pay through e-Rupi instead of paying in cash."

What is e-Rupi facility?

In this way, you can pay the money in advance and get the benefits.  Users can avail electronic enjoy or coupons under this new money transaction system. It can be used without online transactions, transaction apps, and traditional transaction methods. To be easily stated, it is a QR code or SMS-based electronic bill. The National Allowance of India has been developed in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare, and National Health Commission for e-Rupi coupons of the same nature as Sodexo coupons. 

How to use e-Rupi facility?

Coupons will be sent to users' mobile if they pay in advance.  Before that, the government will check the mobile number and identity of the users.  Even ordinary mobile phone holders can easily use this service as they do not need mobile banking and cash transaction app to use it.  If the SMS with coupon details is displayed at the service location, the money will be deducted according to the service.

List of banks offering e-Rupi service

The purpose of the e-Rupi system is to obtain the service without the intervention of any intermediaries.  At present, 11 banks from the public sector and private sector provide this service. State Bank of India, ICICI Bank, HDFC Bank, Punjab National Bank, Axis Bank, and Bank of Baroda fully support e-RUBY receipt. E-Ruby coupons can be obtained and used here.

Meanwhile, Canara Bank, Instant Bank, Indian Bank, Kotak Mahindra Bank, and Union Bank of India only distribute e-Rupi coupons. In these places, e-Rupi coupons cannot be paid and services cannot be availed.