{"id":7389,"date":"2021-12-09T13:08:25","date_gmt":"2021-12-09T07:38:25","guid":{"rendered":"https:\/\/www.iquanta.in\/blog\/?p=7389"},"modified":"2022-02-11T00:23:25","modified_gmt":"2022-02-10T18:53:25","slug":"e-rupi","status":"publish","type":"post","link":"https:\/\/www.iquanta.in\/blog\/e-rupi\/","title":{"rendered":"E-RUPI &#8211; Digital Payment Solution"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.iquanta.in\/blog\/e-rupi\/#E-RUPI_Digital_Payment_Solution\" >E-RUPI Digital Payment Solution<\/a><\/li><\/ul><\/nav><\/div>\n<h1 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"E-RUPI_Digital_Payment_Solution\"><\/span>E-RUPI Digital Payment Solution<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<hr \/>\n<p>Before understanding the need for e-RUPI, <strong>it is essential to comprehend direct benefit transfers and their history.<\/strong><\/p>\n<p>To look after the lower-income segment of the population, the government introduced subsidies. As people struggle to access the bare necessities, it is important to subsidize the cost of these necessities.<\/p>\n<p>By subsidizing the cost, people have to pay a reduced price for items like ration, and the government would reimburse the company whose products are being bought.<\/p>\n<p>Every system comes with some challenges. In this case of the public distribution system, the government was finding it difficult to target the actual beneficiaries. This is because some people acted as middlemen who could help claim subsidies even if someone is ineligible.<\/p>\n<p>Due to this, the government was losing millions every year without offering subsidies to lower-income segment groups.<\/p>\n<p>Soon after, Aadhar and Jan Dhan accounts were introduced. This helped the government authenticate beneficiaries and directly transfer the subsidy to their bank account. All the bank accounts were linked to their Aadhar.<\/p>\n<p>The working of this system was simple. People need to pay the total price to the retailer and then claim for the subsidy amount if eligible. The government would directly transfer the subsidy amount to the bank account.<\/p>\n<p>Hence the name, Direct Benefit Transfer.<\/p>\n<p>This new system also had specific challenges. <strong>In this country of 1.3 billion people, many don&#8217;t have a bank account, especially in villages.<\/strong> Even if they visit a nearby town to open a bank account, accessing funds is a significant challenge.<\/p>\n<p>Banking infrastructure needs to be developed to reach people living in villages. Again, this requires massive investment from the side of the government.<\/p>\n<p><a href=\"https:\/\/www.iquanta.in\/\"><img decoding=\"async\" class=\"alignnone wp-image-7711 td-animation-stack-type0-2\" src=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-300x57.jpeg\" sizes=\"(max-width: 384px) 100vw, 384px\" srcset=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-300x57.jpeg 300w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-1024x194.jpeg 1024w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-768x145.jpeg 768w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-640x121.jpeg 640w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-681x129.jpeg 681w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM.jpeg 1280w\" alt=\"\" width=\"384\" height=\"73\" \/><\/a><\/p>\n<p>One solution to this problem can be adopting a voucher-based system.<\/p>\n<p>There are a lot of parents living in villages who find it difficult in financing their kids&#8217; education. They have to either enrol their kids in a government school or work to earn daily wages.<\/p>\n<p>Now, administrators in such government schools are only accountable to the government. <strong>As long as they have access to state funding, the government will answer them.<\/strong> They don&#8217;t care much about the children, which is why the majority of government schools lack even necessities.<\/p>\n<p>Teacher absenteeism is a significant problem, and there is no responsibility. The only way to improve these conditions is to make these government schools accountable to the kids and the parents.<\/p>\n<p>For this, there is a need for a voucher-based system. The government can extend a voucher to support your kid&#8217;s education through this system.<\/p>\n<p>The schools will collect vouchers from students and redeem them to see money in their accounts. This will make them responsible. If a parent believes that their child is not getting a quality education, they will send them to a better government school, and the government school will lose money.<\/p>\n<p>In this way, the government&#8217;s funds will be used to pay to institutions that are performing. This is a direct benefit transfer, just that the control is in the consumer&#8217;s hands.<\/p>\n<p>Now, the challenge is reaching all those parents and authenticating beneficiaries.<\/p>\n<p>For solving this challenge, e-RUPI comes into the picture.<\/p>\n<p>As the government put it\u200a\u2014<strong>\u200a<em>&#8220;e-RUPI is a cashless and contactless instrument for digital payments. It acts as an e-voucher based on a QR code or SMS string, which is delivered to the mobile phones of the beneficiaries.&#8221;<\/em><\/strong><\/p>\n<p>The government can send an SMS to an Aadhar linked number and transfer the subsidy. Parents only need to redeem the e-voucher and use it to fund their kind&#8217;s education.<\/p>\n<p>It can deliver various services and products and provide support under different welfare schemes like Mother and Child welfare schemes, TB eradication programs, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc.<\/p>\n<p>Hence, e-RUPI has significant scope and will benefit many use cases to solve different challenges.<\/p>\n<p>To structure your\u00a0<a href=\"https:\/\/www.iquanta.in\/cat-online-coaching\">CAT online preparation<\/a>\u00a0in an efficient way consider joining iQuanta which is a\u00a0<a href=\"https:\/\/www.iquanta.in\/test\/iconcept\">top online cat coaching<\/a>\u00a0institute and being a part of the iQuanta CAT 22 Course.<br \/>\nYou can also check out and be a part of their\u00a0<a href=\"https:\/\/www.facebook.com\/groups\/Rockthecat\">Facebook group<\/a>\u00a0for peer learning, doubt solving and free material.<\/p>\n<p><a href=\"https:\/\/www.iquanta.in\/\"><img decoding=\"async\" class=\"alignnone wp-image-7711 td-animation-stack-type0-2\" src=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-300x57.jpeg\" sizes=\"(max-width: 384px) 100vw, 384px\" srcset=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-300x57.jpeg 300w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-1024x194.jpeg 1024w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-768x145.jpeg 768w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-640x121.jpeg 640w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM-681x129.jpeg 681w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/02\/WhatsApp-Image-2021-12-14-at-6.21.58-PM.jpeg 1280w\" alt=\"\" width=\"384\" height=\"73\" \/><\/a><\/p>\n<p>For 24*7 doubts-solving, FREE guidance and counselling and peer to peer learning, join the CAT preparation Fb group below:<\/p>\n<p><a href=\"http:\/\/www.facebook.com\/groups\/Rockthecat\/\"><img decoding=\"async\" class=\"alignnone wp-image-8002 td-animation-stack-type0-2\" src=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/12\/WhatsApp-Image-2021-12-20-at-5.05.31-PM.jpeg\" sizes=\"(max-width: 400px) 100vw, 400px\" srcset=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/12\/WhatsApp-Image-2021-12-20-at-5.05.31-PM.jpeg 1280w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/12\/WhatsApp-Image-2021-12-20-at-5.05.31-PM-300x57.jpeg 300w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/12\/WhatsApp-Image-2021-12-20-at-5.05.31-PM-1024x194.jpeg 1024w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/12\/WhatsApp-Image-2021-12-20-at-5.05.31-PM-768x145.jpeg 768w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/12\/WhatsApp-Image-2021-12-20-at-5.05.31-PM-640x121.jpeg 640w, https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/12\/WhatsApp-Image-2021-12-20-at-5.05.31-PM-681x129.jpeg 681w\" alt=\"CAT preparation Fb group\" width=\"400\" height=\"76\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>E-RUPI Digital Payment Solution Before understanding the need for e-RUPI, it is essential to comprehend direct benefit transfers and their history. To look after the lower-income segment of the population, the government introduced subsidies. As people struggle to access the bare necessities, it is important to subsidize the cost of these necessities. By subsidizing the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[369,367,173],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.4 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>E-RUPI - Digital Payment Solution - iQuanta<\/title>\n<meta name=\"description\" content=\"e-RUPI is the Indian government\u2019s move towards introducing digital currency in the country. e-RUPI digital payment solution, best advancement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.iquanta.in\/blog\/e-rupi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"E-RUPI - Digital Payment Solution\" \/>\n<meta property=\"og:description\" content=\"e-RUPI is the Indian government\u2019s move towards introducing digital currency in the country. e-RUPI digital payment solution, best advancement.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.iquanta.in\/blog\/e-rupi\/\" \/>\n<meta property=\"og:site_name\" content=\"iQuanta\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/iquanta.in\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/jeet.singh.412224\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-09T07:38:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-10T18:53:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.iquanta.in\/blog\/wp-content\/uploads\/2021\/12\/WhatsApp-Image-2022-02-06-at-7.15.51-PM.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Indrajeet Singh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Indrajeet Singh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.iquanta.in\/blog\/e-rupi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.iquanta.in\/blog\/e-rupi\/\"},\"author\":{\"name\":\"Indrajeet Singh\",\"@id\":\"https:\/\/www.iquanta.in\/blog\/#\/schema\/person\/2beb5d5f0836ae531bc05794e824b890\"},\"headline\":\"E-RUPI &#8211; 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