The Prime Minister also discussed how technology is being used to increase transaction transparency and integrity while simultaneously providing new opportunities for the needy.
Prime Minister Narendra Modi claimed the voucher-based system will "play a big role in making DBT (direct benefit transfer) more effective in digital transactions in the country and add a new dimension to digital governance" when he launched the digital payments solution e-RUPI on Monday.
“This will assist everyone in delivering targeted, transparent, and leak-free services... “e-RUPI is a metaphor of how India is evolving by integrating technology into people's lives,” he remarked.
The National Payments Corporation of India (NPCI), Department of Financial Services, Ministry of Health and Family Welfare, and the National Health Authority developed the e-RUPI platform, which is a cashless and contactless digital payments medium that will be delivered to beneficiaries' mobile phones in the form of an SMS-string or a QR code.
This people- and purpose-specific payment system will work similarly to a prepaid gift card, redeemable at particular accepting locations without the use of a credit or debit card, a smartphone app, or online banking. e-RUPI will connect service sponsors with beneficiaries and service providers in a digital manner, eliminating the need for a physical interface.
The Prime Minister also discussed how technology is being used to increase transaction transparency and integrity while simultaneously providing new opportunities for the needy. “The groundwork for today's unique offering was laid over many years by developing the JAM (Jan Dhan-Aadhaar-Mobile) system, which linked mobile and Aadhaar. “We witnessed how we could help the poor during the lockdown era when other countries were fighting to support their people,” he said, adding that the benefits of JAM took some time to become obvious to people.
He went on to say that over Rs 17.5 lakh crore has been deposited directly to people's accounts via DBT through over 300 programmes so far. “The most significant gain is that Rs 1.78 lakh crore was saved from falling into the wrong hands.”
The government claims that e-RUPI, which is based on the NPCI's UPI system, will ensure leak-proof delivery of welfare services. It will be used to support the National Digital Health Mission and the vaccine drive at first, but it can also be used to deliver services under medicine and nutritional assistance schemes, according to the company.