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Essay on E-RUPI Digital Payment

Essay on E-RUPI Digital Payment

Essay on E-RUPI Digital Payment

The Prime Minister of India has launched the first electronic voucher-based digital payment system e-RUPI. It is the first step in India towards digital currency which will boost the digital payments system

This platform has been developed by NPCI(National Payments Corporation of India) in collaboration with the Department of financial services,

This platform has been developed by NPCI(National Payments Corporation of India) in collaboration with the Department of financial services, the Ministry of health and family welfare and the National Health Authority 

What is it & how does it work? 

It is a cashless and contactless digital payment mode that will be delivered to the mobile of a beneficiary in the form of a QR code or string-based e-voucher

e-Rupi connects 'beneficiary and sponsors of the services' and 'service providers in a digital manner without any physical interface It also ensures that the payment to the service provider is made only after the completion of a transaction

How will the vouchers be issued?

It has been developed by NPCI on its UPI platform and all banks will be the institution to issue e-RUPI

Any corporate or government agency (which is a lender in the public or private sector) will have to approach the partner banks with the details of specific persons and purpose of payments to be made Beneficiaries will be identified through their mobile numbers 

A voucher will be issued to the service provider from the bank which will be allotted to that person only on whose name it will be issued 

Uses & significance of e-RUPI

It will be used for good governance and will ensure leak-proof delivery of various welfare services, It can also be used for services under schemes like Ayushman Bharat Pradhan Mantri Jan ArogyaYojana, maternal and child welfare schemes, TB eradication programmes and nutritional assistance schemes.

Uses & significance of e-RUPI

These digital vouchers can also be used by private sectors for the welfare of their employees and corporate social responsibility programmes 

The government is also planning to launch the digital currency of RBI and the launch of e-RUPI will help in the assessment of the capacity of digital payments.

Examples of the voucher-based welfare system

America, along with several other countries like Colombia, Sweden, Chile, Hong Kong etc school voucher system is being used 

There is a school voucher or education voucher system in the US, which is a certificate of government funding for students 

It is a type of special subsidy given directly to the parents of students for the purpose of educating their children.

Essay on e-RUPI Digital Payment

The E-RUPI was launched by the Prime Minister. It was created by the NPCIL, the National Payments Corporation, the guys who made the UPI along with the ministries of Finance and Minister Family Welfare. 

Basically, it is like a digital gift voucher the beneficially gets it on his phone in the form of an SMS or a QR code. And it is a prepaid gift voucher which he can go and redeem at any centre which accepts it.

so I basically connect three people. It connects the sponsor of the service, normally a government with the beneficiaries, says Migrant workers with the service provider say a primary health centre. So it connects them in a digital manner. 

Banks are going to issue the rope and the government agency like say, the health industry will approach the bank, pay the money and tell the bank to send the gift coupon or the QR code to any beneficiary.

Like I said, it could be Migrant workers or any BPL family for whom the government wants to sponsor some medical service. The bank will then tell the service provider which is maybe a hospital or a family health centre. 

They will be intimated when this worker or BPL family goes with their QR code and shows it to them, he will get the service for free and the hospital or the primary centre will get the money from the bank. In other words, E-Rupee is a leakproof way of giving subsidies under any of the schemes like Ayushman Bharat etc.

people say it can even be extended to fertilise the subsidies like food stamps, School fee stamps. At the moment, it's mostly for health, but you cannot confuse it with a digital currency. A digital currency cannot be issued by the government. It will be an issue by RBI says it is underweight. They are going to issue digital currency.

They will ask all of us open an account either with RBI or with a bank. We don't know what they will do. We can be paid a part of our salary as a digital currency and we can use it to make payments. 

Rbi is issuing this mainly to keep people like us away from private digital currencies like Bitcoin and also to reduce cash in the system. So it should not be confused with the E-RUPI, which is a government-sponsored Sodexo system.

Also read: How to make digital India essay

Also read: What makes India great essay

Also read: Essay on my country India



  1. The main purpose of this system is to allow people with low incomes access to financial services and make it easier for them to pay their bills and make purchases. Also you can use our platform to Send Payments. Another important aspect of this system is that it makes life easier for people who do not have bank accounts, which means that they do not have access to any banking facilities such as ATMs or credit cards.


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