The Prime Minister launched the e-RUPI digital payment system in August 2021. This is an important step in ensuring government benefits and services reach their intended beneficiaries in a timely manner. In this article, you will learn all about the e-RUPI system, how it works, what are its advantages and disadvantages, and other details for the IAS exam. Learn about e - RUPI , a cashless and no-contact electronic payment instrument launched in India in 2021. Find out how it works, what services it covers, and what benefits it offers for different stakeholders. e - RUPI is a one-time payment mechanism that can be redeemed without a card, app or internet banking. It is launched by NPCI in association with government and partner banks for various purposes and activities. What is the significance of e-RUPI and how is it different than a digital currency? The government is already working on developing a central bank digital currency and the launch of e-RUPI could potentially highlight the gaps in digital payments infrastructure that will be necessary for the success of the future digital currency.
