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Knowing about Indian new “e-Rupi”


Analysts say this is an important turning point in the reign of digital payments in India. Prime Minister Narendra Modi launched Indian wallet ‘e-Rupi’. It eliminates middlemen in transfer of payments between beneficiaries and the government. New e-Rupi was developed by the National Payments Corporation of India (NPCI). 

The NPCI is a company that manages retail payments and settlement systems in India. It is owned by the Reserve Bank of India. It said that e-Rupi was created mainly for digital payments and worked as an e-voucher with QR code or SMS to the respective phone number.


Users can redeem e-Rupee vouchers without any card, digital payment app or internet banking. One can use e-Rupee vouchers without a bank account, Google, Phone Pay, Internet Banking, Smart Phone. However, e-Rupee is not a payment platform like payment methods like Google Pay, Phone Pay, UPI, Paytm, and Internet Banking. This is an e-voucher for certain services only. It is hoped that ‘e-Rupee’ will be much safer and easier as the details of the beneficiaries will be kept completely confidential. It is said that transactions made through e-Rupee are fast and reliable as the required amount of money is deposited in the voucher in advance.


It is an attempt to treat the e-rupee as a rupee in digital form. It is now called ‘Lakshmi’. Bitcoin is the largest cryptocurrency in circulation in the private sector.  There is only one difference between e-Rupi and cryptocurrency like Bitcoin is that e-Rupee is under government control and Bitcoin is not under government control.

What are the uses of e-Rupi?

·         The government is transferring money directly to the bank accounts of the poor and farmers under various schemes. The same thing happened during the coronavirus.

·         Beneficiaries can get the benefit from the government without third party interference and any difficulty.

·         It can avoid one layer and reduce corruption.

One can also track whether a given e-rupee voucher has been consumed, or not. There is a tracking system to know the details of the e-voucher. Analysts believe that the e-Rupee system could offer more benefits in that direction. The government expects the use of digital wallets to increase as the use of cheap smartphones in the country increases.
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