Bank Management Assignment

Riwaz Shrestha
1920623
5 BBA F

Prime Minister Narendra Modi introduced e-RUPI, a cashless and contactless person- and
purpose-specific digital payment system. It is a QR code or SMS string-based e-voucher that
is given to the beneficiaries' mobile phones. Users of this smooth one-time payment
mechanism will be able to redeem the voucher at the service provider without the need for a
card, digital payments app, or online banking access. It was created in conjunction with the
Department of Financial Services, the Health Ministry, and the National Health Authority by
the National Payments Corporation of India.

The e-RUPI voucher will play a significant role in making DBT more successful in digital
transactions in the country, as well as adding a new dimension to digital governance. This
will benefit everyone by allowing for more targeted, transparent, and leak-free distribution. e-
RUPI is a metaphor of how India is growing through integrating technology into people's
lives. These coupons will mostly be used for health-care costs. These vouchers can be issued
by corporations to their employees. InfrasoftTech provides banks with an e-RUPI technology
stack, assisting them in deploying the technology from integration with current systems
through deployment to their target beneficiaries. According to NPCI, it is now working with
two of the 11 live banks. It will soon add additional customer banks with e-RUPI capabilities.

e-RUPI is expected to transform the delivery of welfare services such as nutritional support
(Mother and Child Welfare Schemes), TB eradication schemes, drugs and diagnostics
(Ayushman Bharat), fertiliser subsidies, employee welfare in the private sector, and
Corporate Social Responsibility (CSR) programs. It also ensures that money is provided to
the service provider only when the transaction is finished. Because it is pre-paid, it ensures
prompt payment to the service provider without the participation of a third party. It is
intended to be a game-changing effort aimed at assuring the delivery of leak-proof social
services.