e-RUPI is a digital solution launched by the Hon'ble PM via video conferencing to allow cashless payment solution for COVID-19 vaccination. The digital payment solution has been developed with the support of DFS (Department of Financial Services) and NHA (National Health Authority) and is powered by NPCI (National Payment Corporation of India).
This particular digital token does not require someone to have a bank account or any particular mobile app, it works even for the non-smartphone using population. With nearly 80 per cent of the population in India having mobile connection, e-RUPI may revolutionize the digital payment system in the country.

 This digital payment instrument is in the form of pre-paid digital vouchers, which is directly delivered to the phones of beneficiaries by organizations via SMS or QR code, and may be used for purchase of specific goods or services, but can't be converted to cash or transferred to another person.

The system has been built by NPCI on its UPI platform, and has on boarded banks that will be the issuing entities. Any corporate or government agency will have to approach the partner banks, which are both private and public-sector lenders, with the details of specific persons and the purpose for which payments have to be made. The beneficiaries will be identified using their mobile number and a voucher allocated by a bank to the service provider in the name of a given person, would only be delivered to that person.

This contact less e-RUPI is easy, safe and secure as it keeps the details of the beneficiaries completely confidential. The entire transaction process through this voucher is relatively faster and at the same time reliable, as the required amount is already stored in the voucher.

PM Modi expressed happiness, that e-Rupi initiative has come at a time when the country is celebrating the Amrit Mahotsav on the  75th anniversary of independence.

Banks with e-Rupi are:-
  • State Bank of India
  • HDFC Bank
  • Axis Bank
  • Punjab National Bank
  • Bank of Baroda
  • Canara Bank
  • IndusInd Bank
  • ICICI Bank
  • Union Bank of India
  • Kotak Bank 
  • Indian Bank
Benifits of e-Rupi :-
1.e-Rupi will provide more transparency than cash.
2.It helps corporate to enable well being of their employees.
3.Voucher redemption can be tracked by issuer.
4.It is a contactless payment, so there is no need of cash handling.
5.It does not require beneficiary to carry print out of the voucher.
6.e-Rupi does not require digital payment app or a bank account to redeem the voucher.
7.Redemption of voucher is a quick and easy process.                                              
8.It is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.      
9.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.
10.It keep the details of beneficiaries confidential.



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