What is e-RUPI launched by Modi?

Prime Minister Narendra Modi on Monday launched a “person and purpose-specific” one-time cashless and contactless digital payment vouchers ‘e-RUPI’ that aim to catalyse the direct transfer of subsidies to beneficiaries without any leakage.

How is e-RUPI different?

e-RUPI does not require the beneficiary to have a bank account, a major distinguishing feature as compared to other digital payment forms. It ensures an easy, contactless two-step redemption process that does not require sharing of personal details either.

What is e-RUPI platform?

Narendra Modi is going to launch a digital payment platform called e-RUPI Digital Platform. This platform is a cashless and contactless instrument that will be used for making digital payments. It is a QR code or SMS string-based e-voucher which will be delivered to the mobile of the users.

Did Modi bring UPI?

Pioneered and developed by National Payments Corporation of India (NPCI), BHIM has been conceived and launched by the Hon’ble Prime Minister of India, Narendra Modi on 30th December 2016 to bring in Financial Inclusion to the nation and a digitally empowered society.

WHO launched e RUPI digital payment solution on 2nd August?

Prime Minister Shri Narendra Modi will launch e-RUPI, a person and purpose specific digital payment solution on 2nd August 2021 at 4:30 pm via video conferencing.

What is UPI Upsc?

UPI is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood.

When was UPI launched?

11th April 2016
Unified Payments Interface (UPI) The pilot launch was on 11th April 2016 by Dr. Raghuram G Rajan, Governor, RBI at Mumbai. Banks have started to upload their UPI enabled Apps on Google Play store from 25th August, 2016 onwards.