Coinscreed
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • DeFi
    • Blockchain News
  • Market Analysis
  • NFT
  • Metaverse
  • Cryptocurrencies
  • Learn
    • Bitcoin 101
    • Ethereum 101
    • Binance Smart Chain
    • DeFi 101
    • Ripple 101
    • ICO 101
    • Trading 101
    • Dogecoin 101
    • Lightening Network
    • NFT 101
  • Crypto How Tos
Advertise
No Result
View All Result
  • bitcoinBitcoin(BTC)
    $30,383.002.73% 24H
    BITCOIN
    24H : 2.73%
    Volume : $23,617,837,134.00
    Marketcap : $578,903,942,837.00
  • ethereumEthereum(ETH)
    $2,076.053.21% 24H
    ETHEREUM
    24H : 3.21%
    Volume : $15,775,931,437.00
    Marketcap : $250,903,105,438.00
  • binancecoinBNB(BNB)
    $301.593.91% 24H
    BNB
    24H : 3.91%
    Volume : $1,270,195,061.00
    Marketcap : $50,714,295,661.00
  • rippleXRP(XRP)
    $0.4322.85% 24H
    XRP
    24H : 2.85%
    Volume : $2,149,355,079.00
    Marketcap : $20,868,820,051.00
  • cardanoCardano(ADA)
    $0.57610.61% 24H
    CARDANO
    24H : 10.61%
    Volume : $1,049,625,855.00
    Marketcap : $19,475,807,643.00
  • terra-lunaTerra(LUNA)
    $0.00024-20.68% 24H
    TERRA
    24H : -20.68%
    Volume : $2,521,186,903.00
    Marketcap : $1,583,172,195.00
Coinscreed
No Result
View All Result
homerun token
Home Cryptocurrencies

India to launch a futuristic digital payment solution e-RUPI – Prime Minister

LollyCrypt by LollyCrypt
10 months ago
in Cryptocurrencies
Reading Time: 3 mins read
A A
Share on FacebookShare on Twitter
India is set to launch a new digital payment infrastructure, e-Rupi this will facilitate transparent and leak-proof payment transfer initiated by several payment services.
India to launch a futuristic digital payment solution e-RUPI - Prime Minister

India’s digital payments system is about to undergo a big revamp later today! Prime Minister Narendra Modi said on Sunday, August 1 that on Monday, August 2 at 4:00 p.m. IST, he will launch e-RUPI, a futuristic digital payment solution.

The e-RUPI initiative intends to transition India to a cashless and contactless digital payment economy. It will also aid in the creation of a clear digital bridge between service providers and recipients.

SuggestedArticles

Russia's Bitrivers Mulls To Challenge US Sanctions

Russia’s Bitriver Mulls To Challenge US Sanctions

4 days ago
Brazil's Nubank To Adopt Crypto Trading

Brazil’s Nubank To Adopt Crypto Trading

4 days ago

It would also ensure that no leakage occurs in the delivery of welfare services undertaken by the Indian government.

This new payment system was created by the National Payments Corporation on the same platform as UPI (Unified Payments Interface). The following is from the announcement:

e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.

It also ensures that the payment to the service provider is made only after the transaction is completed. Being pre-paid in nature, it assures timely payment to the service provider without the involvement of any intermediary.

The e-RUPI payment system has a variety of applications.

As previously stated, the e-RUPI is a step toward increasing the use of digital payments in India. However, it is unclear whether India’s CBDC objectives will be aided by the e-RUPI system.

The government appears to be primarily focused on using the e-RUPI system to offer welfare benefits in a leak-proof manner.

It will also be used to offer drugs and nutritional support “under Mother and Child Welfare schemes, TB eradication initiatives, drugs and diagnostics under schemes such as Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, and so on.”

Corporates may find the e-RUPI digital vouchers handy, according to the press release. These vouchers can be used by private players as part of employee welfare and corporate social responsibility programs.

The launch of e-RUPI appears to be the Indian government’s preparation for more complex infrastructure, such as the central bank digital currency (CBDC). The Reserve Bank of India (RBI), India’s central bank, has expressed interest in launching the Digital Rupee.

Regulators in India, on the other hand, have been slow to set guidelines for the usage of digital currencies. As a result, establishing a CBDC remains a pipe dream.

Tags: e-Rupifuturistic digital paymentIndia

BTC365

Coinscreed

Copyright © 2022 Coinscreed

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Crypto Price Charts

Follow Us

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • DeFi
    • Blockchain News
  • Market Analysis
  • NFT
  • Metaverse
  • Cryptocurrencies
  • Learn
    • Bitcoin 101
    • Ethereum 101
    • Binance Smart Chain
    • DeFi 101
    • Ripple 101
    • ICO 101
    • Trading 101
    • Dogecoin 101
    • Lightening Network
    • NFT 101
  • Crypto How Tos

Copyright © 2022 Coinscreed

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.