2021
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Question
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Pisa
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e-RUPI
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Check
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Rupee
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Detailed explanation-1: -By India Today Web Desk: Prime Minister Narendra Modi launched the digital payment solution e-RUPI on August 2, 2021. e-RUPI is a cashless and contactless instrument for digital payment that will play a significant role in making direct benefit transfer(DBT) more effective.
Detailed explanation-2: -The Union Cabinet on Wednesday approved a ₹2, 600 crore incentive scheme for promotion of popular digital payment systems, RuPay Debit Cards and low-value BHIM-UPI person-to-merchant (P2M) transactions, in the current financial year.
Detailed explanation-3: -UPI: Revolutionizing Digital Payments UPI is an instant payment system developed by the National Payments Corporation of India (NPCI).
Detailed explanation-4: -The users of this seamless one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the merchants accepting e-RUPI. e-RUPI would be shared with the beneficiaries for a specific purpose or activity by organizations or Government via SMS or QR code.