Q. With reference to E-Rupi, consider the following statements:
1. It is a digital voucher which beneficiary gets on his phone in form of SMS or QR code.
2. It has been developed by Reserve Bank of India.
Which of the statements given above is/are correct?
Statement 1 is correct: e-RUPI is a cashless and contactless instrument for digital payment. beneficiary will receive a QR code or SMS string-based e-voucher on her mobile phone. The beneficiary, then, can redeem this e-voucher at the service provider without the need for any card, digital payment app, or internet banking access.
Statement 2 is incorrect: It is developed by National Payments Corporation of India (NPCI) in collaboration with the Department of Financial Services (DFS), the Union Health Ministry, and the National Health Authority (NHA).