 "digital payments, online, mobile, smartphone, ncpi, upi, fintech")
The launch of e-RUPI, a person- and purpose-specific digital payment solution, by the government is expected to completely negate any pilferage and will ensure full benefit to intended beneficiaries, India Inc said on Monday.
Prime Minister Narendra Modi has launched e-RUPI, which is aimed at improving transparency and targeted delivery of benefits.
PHD Chamber of Commerce and Industry President Sanjay Aggarwal said that the move is a significant step to enhance the digitization process of the country.
"Going ahead, e-RUPI will help enhance the percolation of various schemes of the government at the ground level. It will speed up as well as ease the process of social welfare schemes and also help increase the private sector's efficiency in corporate social responsibility activities," Aggarwal said.
Sharing similar views, CII President T V Narendran said that through this payment mechanism, the government can extend monetary support to citizens without involvement of intermediaries.
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The voucher system will enable all beneficiaries, including feature phone-users, to benefit through this mechanism and it will also be an excellent tool for the corporates, through which they can extend employee and community welfare schemes, he said.
Sanjiv Bajaj, President-designate, CII, said, "This is expected to completely negate any pilferage and will ensure 100 per cent benefit to the intended beneficiaries. This mechanism is expected to make DBT (direct benefit transfer) more efficient and has all the ingredients to ensure the spread of financial inclusion by the government but also by corporates to extend employee and community welfare schemes.
Chandrajit Banerjee, Director General, CII, said that the launch of e-RUPI will ensure that benefits reach the intended beneficiaries.
Ficci said that with this launch, the government will now be able to connect sponsors of the services with the beneficiaries and service providers in a digital manner and without any physical interface.
The e-RUPI system will not only ensure that there are no leakages in the delivery of government services but also offer a much-needed ease and convenience to the people who are the recipient of such services," it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
