e-RUPI is a person as well as a purpose-specific payment platform: PM Modi

Published By : Admin | August 2, 2021 | 16:52 IST
e-RUPI voucher is going to play a major role in strengthening the DBT scheme: PM Modi
e-RUPI will help in assuring targeted, transparent and leakage-free delivery for all: PM Modi
e-RUPI is a person as well as a purpose-specific payment platform: PM Modi


Joining me in this important program all the Governors from across the country, Lieutenant Governors, my colleagues from the Union Cabinet, Governor of the Reserve Bank, Chief Secretaries of the States, colleagues associated with different industry associations, my young colleagues from the world of Start-Up and Fin-Tech, senior officers of banks and my dear brothers and sisters,

Today the country is giving a new dimension to digital governance. The e-RUPI voucher is going to play an important role in making digital transactions and DBT more effective in the country. It will ensure targeted, transparent and leakage-free delivery to everybody. E-RUPI signifies how 21st century India is moving ahead with the help of modern technology and connecting technology with people's lives. I am happy that this beginning is happening at a time when the country is celebrating Amrit Mahotsav on 75 years of Independence. At such a time, the country has taken another important step of futuristic reform.


Not only the government, if any general institution or organization wants to help somebody for treatment, education or for any other work, it would be able to make the payment through e-RUPI instead of cash. This will ensure that the money given by it will be used for the purpose for which that amount was given. In the initial phase, this scheme is being implemented in the health sector of the country.

Suppose, an organization involved in charity does not want to take advantage of the free vaccine scheme of the government of India, but wants to contribute to private hospitals which are buying vaccines at a price. If it intends to vaccinate 100 poor people, it can give e-RUPI vouchers to those 100 poor people. The e-RUPI voucher will ensure that it is used only for vaccination and not for any other purpose. With time, more activities will be added to it. For example, if anybody wants to bear treatment expenses of somebody, or to provide financial help for medicines and food to the TB patient, or wants to provide food and nutrition related facilities to children and pregnant women, e- RUPI will prove to be very helpful to him. That is, e-RUPI, in a way, is person as well as purpose specific.

The e-RUPI will ensure that the purpose for which any help or any benefit is being given; it will be used for that only. If somebody wants to add 20 new beds in an old age home, then e-RUPI voucher will be very helpful.

If somebody wants to arrange food for 50 poor people in any area, then e-RUPI voucher will help him. If anyone wants to arrange fodder in a Gaushala (cow ranch), e-RUPI voucher will help him too.

Now if we look at it from the national perspective, if the government sends money for books, then e-RUPI will ensure that only books are bought. If money is sent for uniforms, then only uniforms should be purchased.

If help is given for subsidized fertilizer, then it should be used only for buying fertilizer. Only nutritious food can be purchased for pregnant women from the given cash. That is, the e-RUPI voucher will ensure the money spent on a particular purpose.


Earlier some people used to say that technology is only for the rich and, therefore, what is the use of technology for a poor country like India. When our government talked about making technology a mission many politicians and some particular categories of experts used to question it. But today the country has rejected the thinking of those people, and has also proved them wrong.

Today the approach of the country is different, it is new. Today we are looking at technology as a tool to help the poor and their progress. Today the world is watching how technology is ushering in transparency and honesty in India! How technology is creating new opportunities, making them accessible to the poor and how technology is reducing the dependence of the common man on government and red tape.

You look at today's unique product. We have reached here because the country has worked hard for years to open Jan Dhan accounts, link them with Aadhaar and mobile phones (JAM). When JAM was launched, not many people were able to understand its importance. But we realized its importance during lockdowns. When the developed countries of the world were worried about how to help their poor in lockdowns, India had a comprehensive system ready. While other countries were opening post offices and banks, India was sending financial help directly to the bank accounts of women.

So far, about 17.5 lakh crore rupees have been sent directly to the accounts of the beneficiaries through Direct Benefit Transfer in India. Today, the Central Government is providing benefits of more than 300 schemes to the people through DBT. About 90 crore countrymen are getting benefits in some form or the other due to this. Be it ration, LPG gas, treatment, scholarship, pension, wages, help to build a house, many such benefits are being extended through DBT. Under the PM Kisan Samman Nidhi, Rs 1.35 lakh crore has been directly transferred to the bank accounts of farmers. This time, about Rs 85,000 crore of wheat that has been procured from the farmers has been directly transferred to the bank accounts of the farmers. The biggest benefit of all these experiments has been that more than 1.75 lakh crore rupees of the country have been saved from falling into the wrong hands.


India has proved to the world that it is second to none in adopting technology and making use of it. When it comes to innovations or the use of technology in service delivery, India has the ability to provide global leadership along with the developed countries of the world. The proper use of technology has a big role in the pace of progress that India has witnessed in the last seven years. Did anyone imagine 8-10 years ago that crores of vehicles would pass through the toll booths without any physical transaction? This has become possible with FASTag.

Did anyone imagine 8-10 years ago that a person involved in handicrafts in a remote village would be able to sell his products directly to any government office in Delhi? Today this is possible with GeM, i.e. Government e-Marketplace Portal.

Did anyone imagine 8-10 years ago that our certificates, documents will be digitally in our pockets all the time, and can be used everywhere with a single click? Today it is possible with DigiLocker.

Did anyone imagine 8-10 years ago that the entrepreneurs of the MSME sector in India would get loan approval in just 59 minutes? This is also possible in India today. Similarly, did you imagine 8-10 years ago that you would send a digital voucher for something, and the work would be done? Today this too has become possible through e-RUPI.

I can cite many such examples. The country has realized the power of technology even during this pandemic. An example of the Arogya Setu app is also in front of us. Today this app is one of the most downloaded apps. Similarly, the CoWIN portal is also helping the people in the vaccination program today, in the selection of the vaccination center, registration and in getting the vaccine certificate.

Had the old system been prevalent, one would have to run for the certificate after the vaccination. Even today, hand-written paper certificates are being given in several countries of the world. But the people of India are downloading digital certificates in one click. Therefore, India's CoWIN system is attracting many countries of the world. India is also sharing it with the world.



I remember when the BHIM app was launched four years ago, I said that the day is not far when most of the business transactions would be digital instead of currency notes and coins. Then I had also said that this change would empower the poor, underprivileged, small traders, farmers and tribal communities the most. Today we are experiencing this. Every month new records of UPI transactions are being created. In the month of July, more than 300 crore transactions have been done through UPI, in which transactions worth Rs six lakh crore have taken place. Today people selling tea, juice, fruits and vegetables are also using it.

At the same time, India's RuPay card is also strengthening the pride of the country. It has also been launched in Singapore and Bhutan. Today there are 66 crore RuPay cards in the country and transactions worth thousands of crores are also being done through RuPay cards. This card has also empowered the poor. He feels proud that he too can have a debit card and use it.



Another example of how technology empowers the poor is PM SVANidhi Yojana. The financial inclusion of the street vendors in our country was never thought of before. It was impossible for them to get financial help from the bank to expand their work. In the absence of a history of digital transactions and documents, our street vendors could not even take the first step to take a loan from the bank. Realizing this, our government started the PM SVANidhi Yojana. Today, more than 23 lakh street vendors spread over small and big cities of the country have been helped under this scheme. Even in this Corona period, about Rs 2300 crore has been provided to them. These poor people are now doing digital transactions and paying their loans. That is, now a digital history of their transactions is being made.

There is a provision in the PM SVANidhi that the street vendors will be able to avail the second loan of Rs. 20,000 once they repay their first loan of Rs. 10,000. Similarly, the amount of the third loan will be increased to Rs. 50,000 upon the repayment of the second loan. You will be happy to know that today hundreds of street vendors are in the process of getting the third loan.


Today 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. Especially in India, a huge base of fin-tech has been created which is not present even in developed countries. The positive mindset of the countrymen and their ability to adopt fin-tech solutions is also unlimited. This is a great opportunity for the youth of India and the start-up ecosystem of India. There are many possibilities in fin-tech for India's start-ups.


I am sure the e-RUPI voucher will also write new chapters of success. Our banks and other payment gateways have a huge role in it. Hundreds of our private hospitals, corporates, industry, NGOs and other institutions have also shown great interest in this. I also urge the State Governments to make maximum use of e-RUPI to ensure accurate and comprehensive benefits of their schemes. I am sure that such a fruitful partnership of all of us will give further impetus to the creation of an honest and transparent system.

Once again, I congratulate all the countrymen for this huge reform. Many congratulations!



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