All About e-RUPI (A Digital Innovation)

What is e-RUPI ?

National Payments Corporation of India (NPCI) in association with Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks, has launched an innovative digital solution – ‘e-RUPI’.

Note : It is not a “Digital Currency” like Bitcoin. It is only an another cashless and contactless method of digital payment like Bhim, Phonepe, Gpay, Paytm but it has an unique feature.

What is the Unique Feature ?

e-RUPI will be issued in the form of electronic Voucher and the users of this payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the merchants accepting e-RUPI.

e-RUPI would be shared with the beneficiaries for a specific purpose or activity by organizations or Government via SMS or QR code.

This contactless e-RUPI is easy, safe and secure as it keeps the details of the beneficiaries completely confidential. The entire transaction process through this voucher is relatively faster and at the same time reliable, as the required amount is already stored in the voucher. It is like a Pre-paid Gift Voucher.

What are the benefits of e-RUPI ?

It will basically benefit the beneficiaries of any Government scheme, NGO or any Private organization.

e-RUPI will be issued by Govt. for various Public welfare schemes like Matri & Bal Kalyan Yojana, Jan-Aushadhi Yojana, T B Unnamoolan Yojana, Ayushman Bharat Yojana, Fertiliser Subsidy, etc. to ensure leak-proof payment system.

Private organizations also can issue e-RUPI for the welfare of their employees and for Corporate Social Responsibility (CSR).

Benefits in the form of payment of amount under Govt scheme shall be given to the beneficiary in the form of electronic voucher. This electronic voucher will be sent to the mobile number of the beneficiary in the form or QR code or SMS. And it will be redeemed for that specific purpose only for which the voucher has been issued.

  1. No Intermediaries
  2. Privacy
  3. Relatively Faster
  4. Payment to Service provider of e-RUPI is done only after the e-RUPI is redeemed.
  5. Person specific and Purpose-specific system
  6. Tracking of utilisation of the Voucher
Who can issue e-RUPI ?

All Partner Banks will issue e-RUPI.

Sr. No. Bank Name Issuer Acquirer Acquiring App / Entity
1 Axis Bank Bharat Pe
2 Bank of Baroda BHIM Baroda Merchant Pay
3 Canara Bank NA
4 HDFC Bank HDFC Business App
5 ICICI Bank Bharat Pe & PineLabs
6 IndusInd Bank NA
7 Indian Bank NA
8 Kotak Bank NA
9 Punjab National Bank PNB Merchant Pay
10 State Bank of India YONO SBI Merchant
11 Union Bank of India NA
Who can apply for issuance/generation of e-RUPI ?

Govt. Organizations, Corporates or any other service provider can generate e-RUPI through his banking partner.

What is the process of applying for generation/issuance of e-RUPI ?

The most important thing is “MOBILE NUMBER” of the beneficiary. Beneficiary will be identified by his/her Mobile Number.

Any Govt. Agency or Corporate will share details of the beneficiary and the purpose of the payment to the partner bank and then Partner bank will issue electronic voucher and it will be sent directly to the mobile number of the beneficiary.


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Tax Shastra is a knowledge-sharing platform for Individuals, Businesses & Professionals, solely managed and guided by Ratan Sarraf, where you can learn your taxes and finance easily.

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