Reserve Bank of India (RBI) has explaned the concept of e-RUPI, a digital voucher introduced in August, 2021. During the monetary policy statement, Shaktikanta Das, governor, RBI, spoke on how current e-RUPI vouchers are distributed by banks and that the plan is to go beyond it.
“It is now proposed to expand the scope and reach of e-RUPI vouchers by (i) permitting non-bank prepaid payment instruments (PPI) issuers to issue e-RUPI vouchers; (ii) enabling issuance of e-RUPI vouchers on behalf of individuals; and (iii) simplifying the process of issuance, redemption, etc,” Das said.
Insights from the statement mentioned that these steps intend to make benefits of e-RUPI digital voucher available to more users. From what it’s understood, measures around e-RUPI voucher aim to “further deepen the penetration of digital payments in the country.” It’s believed that a different set of instructions will be made available for users soon.
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