Modi launches digital payment solution e-RUPI
New Delhi, August 2, 2021
Prime Minister Narendra Modi today launched the digital payment solution e-RUPI, a person and purpose-specific digital payment solution, via video conference.
Addressing the event, the Prime Minister said e-RUPI is a cashless and contactless instrument for digital payment. The eRUPI voucher will play a big role in making DBT (Direct Benefits Transfer) more effective in digital transactions in the country and give a new dimension to digital governance.
"It will help everyone in targeted, transparent and leakage-free delivery. e-RUPI is a symbol of how India is progressing by connecting people’s lives with technology," he said.
Modi also expressed happiness that this futuristic reform initiative has come at a time when the country is celebrating the "Amrit Mahotsav" in the 75th year of independence.
Apart from the government, if any organization wants to help someone in their medical treatment, education, any other need or work, they will be able to disburse an eRUPI voucher instead of cash. This will ensure that the money given is used for the specified need or work, he said.
He said there was a time when technology was considered a domain of the rich people and there was no scope for technology in a poor country like India. When this government introduced technology as a mission, it was questioned by the political leaders and certain types of experts. “Today, the thinking of the country is different, it is new. We are seeing technology as a tool to help the poor, a tool for their progress," he said.
Modi said technology was bringing in transparency and integrity in transactions and creating new opportunities and making them available to the poor. For reaching today’s unique product, the foundation was prepared over the years by creating the JAM system which connected mobile and Aadhaar.
“Benefits of JAM (Jan Dhan, Aadhaar, Mobile) took some time to be visible to people and we saw how we could help the needy during the lockdown period while other countries were struggling to help their people,” he added.
“More than seventeen and a half lakh crore rupees have been transferred directly to the accounts of the people via Direct Benefit Transfer. More than three hundred schemes are using DBT. Ninety crore Indians are being benefited in some way or the other through it in areas like LPG, ration, medical treatment, scholarship, pension or wage disbursal. One lakh 35 thousand crore rupees have directly been transferred to farmers under PM Kisan Samman Nidhi, 85 thousand crore rupees for government purchase of wheat were also disbursed in this manner.
“The biggest benefit of this all is that 1 lakh 78 thousand crore rupees were prevented from going to the wrong hands,'' he added.
He noted that the development of digital transactions in India has empowered the poor and deprived, small businesses, farmers and tribal population. This can be felt in the record of 300 crore UPI transactions in July amounting to Rs 6 lakh crore.
The Prime Minister said India was proving to the world that it was second to none in adopting technology and adapting to it. "When it comes to innovations, use of technology in service delivery, India can give global leadership alongside major countries of the world," he said.
He said the PM Svanidhi Yojana had helped more than 23 lakh street vendors in small towns and large cities of the country. During this pandemic period, about Rs 2300 crore has been disbursed to them.
"The world is recognizing the impact of the work done in the last 6-7 years for digital infrastructure and digital transactions in the country. A huge base of fintech has been created which is not present even in developed countries," he added.