Karnataka became the first state to adopt e-Rupi disbursement for scholarships to eligible students. The use of E-Rupi would ensure a leak-proof delivery of education fees by paying digitally to college or school. The government would get e-vouchers delivered to the mobiles of eligible students. The beneficiaries can receive the voucher code in their feature phones, which they could redeem at the identified college or institution during fees payment. The stakeholders for the implementation of e-Rupi are the National Payments Corporation of India (NPCI), the State Bank of India and the state department for e-governance.
Potent Tool For Governments
Rajiv Chawla, the Additional Chief Secretary of the Department of Personnel & Administrative Reforms (DPAR) (e-governance), Karnataka Government, said, "e-RUPI is indeed a potent tool for governments to use as it allows direct transfer of the benefits to the targeted beneficiary, with security and safety. The instrument ensures that the beneficiary gets the benefit as per the scheme's guidelines". He further added each transaction would be mapped with the beneficiary and the institution ensuring that the e-Voucher can be redeemed by the college where the student has enrolled themselves, the official press release mentioned.
Launched Initially For Cashless Payment Solution
Prime Minister Narendra Modi launched e-Rupi as a digital solution to allow cashless payment solutions for COVID-19 vaccination. The digital payment solution was developed with DFS (Department of Financial Services) and NHA (National Health Authority). It is powered by the National Payments Corporation of India (NPCI).
E-Rupi transactions are easy and safe as the details of the beneficiaries are confidential, and the entire process through the voucher is relatively faster and reliable because the required amount is already stored in the voucher. The end-to-end digital transaction does not mandate any physical issuance, which leads to cost reduction.