What is e RUPI? How to use it ? all explained.

e rupiIndia launched new monetary system e RUPI on August 2 . You or someone you know knows what to do when money comes in as an  e rupi. E-Rupee is India’s new digital money transfer system. You do not need a credit card or mobile app to use the money. At the same time, it is a cashless, contactless digital payment method. Beneficiaries will receive a QR code, or a bunch of e-voucher-centric SMS. You do not need internet banking to exchange the money received in this way.
The new system has been developed by the National Payments Corporation of India through the UPI platform. The Department of Financial Services, the Ministry of Health and Family Welfare and the National Health Authority are also involved. The e-rupee will only arrive in the name of a particular person. It will be sent for a specific purpose only. Such e-vouchers can be sent by the government and corporations through their banking partners. This is a one time money transfer method. The recipient will not have the right to transfer it to another person unless he can cash it. The RBI has authorized only three categories of offices to issue such vouchers – banks, payment service providers and holders of prepaid instrument licensees.

The maximum amount that can be transferred in this way will be Rs.10,000. It can only be used once. Transfer is not possible. The bank can be approached to transfer the e-rupee to a government agency or corporate that agrees to these terms. The recipient of the e-Rupee will receive an OTP at the time of converting it into cash. Another document will be the voucher or QR code received. The recipient of the e-rupee will have an app in their hand. You can scan e-voucher and OTP through the app.

Many banks have come forward to collaborate with e-Rupee. Many banks like HDFC, ICICI Bank, Axis Bank, State Bank of India and Bank of Baroda will cooperate with it. Pine Labs and Bharatpe will also be collaborating.

So what’s so significant about a goat’s head? ” More details are expected to come out soon. In any case, one purpose is to send things, including some government subsidies, directly to those who own at least one basic phone. Vouchers and QR codes obtained in this way can also be converted into contactless. This will be another cashless transaction for the country that plans to launch its own cryptocurrency.

5 important Credit card safety tips.

How to reduce credit card interest rate ?

How to reduce credit card debt ?

Telegram will now let up to 1000 people join video call.

How to improve credit profile ?

Credit cards offer a variety of benefits for you. This includes cashback and credit points. But one has to wonder if multiple credit cards are really needed. Analyze the credit cards and loan plans that banks offer and choose a credit card. Improve … [Continue reading]

5 important Credit card safety tips.

Ultimately keeping your credit card safe is your responsibility. In fact, in the worst case scenario, if you can prove that you might be neglecting to keep your credit card safe, you might find yourself responsible for the cost of all transactions … [Continue reading]

How to reduce credit card interest rate ?

Credit card is very convenient. Easy to use. But credit card debt is more likely to increase. If you not manage properly, credit card usage become a tragedy.This article explain how to reduce credit card interest rate in 6 successful ways. How to … [Continue reading]

How to reduce credit card debt ?

Credit cards are popular for interest-free payments to merchants when buying goods and services. These cards can put the customer in debt, as they can be expensive, if not a convenient cash transfer system. With only five per cent of the repayment … [Continue reading]

Tips for using Rewards Credit Card.

Rewards credit card are designed to "reward" consumers for their loyalty by returning something to the cardholder; There are many bonus programs including points, cashback, frequent flyer miles or merchandise. Reward credit cards are constantly … [Continue reading]

Credit card pros and cons are explained.

Credit card is very popular financial instrument nowadays. Most of us using different kind of credit cards and that helping us for easy shopping. The world seems to have been squeezed and wrapped in a credit card. Nowadays everyone speaks and … [Continue reading]

Five credit card Terms, you must know

The major credit card terms explains in this article. Credit cards are easy, right? You have a credit line. As long as your balance is not as high as your credit line, you can pay for things with your credit card. You never late the credit card … [Continue reading]

American Express credit card , why it is unique ?

American Express, or AMEX, is one of the most well-known names in the financial world. What many customers with MasterCard or Visa credit cards care about in their portfolio is what is the difference between these two companies and American Express. … [Continue reading]

The interesting history of Credit card.

Credit card is now  become self-evident in all corners of our lives, and it is rare for adults these days not to carry at least one card. In addition to using it in the traditional way to buy goods or services in person, it is now also used online, … [Continue reading]