It will make the benefits of the e-RUPI accessible to a wider set of users and further deepen the penetration of digital payments. "Furthermore, as e-RUPI has now been formalized as a prepaid instrument, it will facilitate non-bank PPI issuers, individuals, and corporates to utilize it for various programs. "The expansion of e-RUPI vouchers, with the inclusion of non-bank Prepaid Payment Instrument issuers and individual issuance, signifies a major stride towards promoting financial inclusivity and accessibility," said Rajsri Rengan, India Head of Development, Banking, and Payments, at FIS. ![]() The central bank has also allowed the use of the e-RUPI voucher multiple times (until the amount of the voucher is completely redeemed).Į-RUPI: 'A major stride towards promoting financial inclusivity' The cap on the amount for e-RUPI vouchers issued by the government has been set at Rs 1,00,000 per voucher. Since there is no need for physical issuance of vouchers, it will lead to some cost savings as well," the ministry added. "e-RUPI is expected to play a major role in strengthening direct-benefit transfer and making it more transparent. These measures will make the benefits of e-RUPI digital voucher accessible to a wider set of users and further deepen the penetration of digital payments in the country," said RBI Governor Shaktikanta Das while announcing the decisions of the monetary policy committee. "It is also proposed to enable issuance of e-Rupi vouchers on behalf of individuals and to simplify the process of issuance and redemption and a few other aspects of the current framework. Keeping in view the benefits for users and beneficiaries alike, it is proposed to expand the scope and reach of e-RUPI vouchers by a) permitting non-bank Prepaid Payment Instrument (PPI) issuers to issue e-RUPI vouchers and b) enabling the issuance of e-RUPI vouchers on behalf of individuals," the RBI said in its June monetary policy committee meeting. "At present, purpose-specific vouchers are issued by banks on behalf of central and state governments and to a limited extent on behalf of corporates. ![]() Further, the central bank has also permitted the issuance of e-RUPI vouchers on behalf of individuals. ![]() The Reserve Bank of India (RBI) has allowed non-bank Prepaid Payment Instrument ( PPI) issuers to issue e-RUPI vouchers. ![]() Mutual Funds Spend P2P Data Center Fuel Rates Diesel Rates Petrol Rates Bank Pan Number Bank holidays Penny Stocks MF Ratings & NAV Top Performing Schemes Top Star Rated Schemes Top Tax Saving Schemes Highest Risk Adjusted Return New Fund Offers Forthcoming Dividends NPS Top Performing NPS Scheme Most Consistent NPS schemes ETF Perfomance Latest Prices Listed Bonds Traded in Cash Market ULIPs ULIP Schemes Calculators Recurring Deposit Calculator Fixed Deposit Calculator LTCG Tax Calculator Income Tax Calculator Rent Receipt Generator SIP Calculator IFSC Bank Code NPS Calculator Invoice Generator EPF Calculator House Property Income HRA Calculator Sukanya Samriddhi Calculator Education Loan Calculator Car Loan Calculator Home Loan Calculator Personal Loan Calculator Risk Tolerance Calculator Financial Fitness Calculator Buy Online Health Insurance Car Insurance 2 Wheeler Insurance Interest Rates Recurring Deposit Rates Fixed Deposit Rates Bank Fixed Deposits Rates Post Office Schemes Rates MCLR Loan EMI Participate & Win Stocks & Shares ET Wealth ET Wealth Editions Buy Wealth Magazine ET Wealth Newsletter
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