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Which of the following statements is/are correct regarding ‘e-RUPI’ ?
1. It is a type of virtual currency launched by the Government of India.
2. It can be used for delivering services under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.
3. The private sector can leverage it as part of their Corporate Social Responsibility (CSR) programmes.
Select the correct answer using the code given below:
  • a)
    1 and 2 only
  • b)
    2 and 3 only
  • c)
    3 only
  • d)
    1, 2 and 3
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Which of the following statements is/are correct regarding ‘e-RU...
  • e-RUPI is a cashless and contactless method for digital payment. It is a Quick Response (QR) code or SMS string-based e-voucher, which is delivered to the mobile of the users.
    • The users will be able to redeem the voucher without needing a card, digital payments app, or internet banking access, at the service provider.
    • It connects the sponsors of the services with the beneficiaries and service providers in a digital mode without any physical interface.
    • The mechanism also ensures that the payment to the service provider is made only after the transaction is completed.
    • The system is pre-paid in nature and hence, assures timely payment to the service provider without the involvement of any intermediary.
  • In effect, e-RUPI is still backed by the existing Indian rupee as the underlying asset and specificity of its purpose makes it different to a virtual currency and puts it closer to a voucher-based payment system. Hence, statement 1 is not correct.
  • It is expected to ensure a leak-proof delivery of welfare services and can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, drugs & diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies etc. Hence, statement 2 is correct.
  • Even the private sector can leverage these digital vouchers as part of their employee welfare and Corporate Social Responsibility (CSR) programmes. Hence, statement 3 is correct.
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Most Upvoted Answer
Which of the following statements is/are correct regarding ‘e-RU...
  • e-RUPI is a cashless and contactless method for digital payment. It is a Quick Response (QR) code or SMS string-based e-voucher, which is delivered to the mobile of the users.
    • The users will be able to redeem the voucher without needing a card, digital payments app, or internet banking access, at the service provider.
    • It connects the sponsors of the services with the beneficiaries and service providers in a digital mode without any physical interface.
    • The mechanism also ensures that the payment to the service provider is made only after the transaction is completed.
    • The system is pre-paid in nature and hence, assures timely payment to the service provider without the involvement of any intermediary.
  • In effect, e-RUPI is still backed by the existing Indian rupee as the underlying asset and specificity of its purpose makes it different to a virtual currency and puts it closer to a voucher-based payment system. Hence, statement 1 is not correct.
  • It is expected to ensure a leak-proof delivery of welfare services and can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, drugs & diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies etc. Hence, statement 2 is correct.
  • Even the private sector can leverage these digital vouchers as part of their employee welfare and Corporate Social Responsibility (CSR) programmes. Hence, statement 3 is correct.
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Community Answer
Which of the following statements is/are correct regarding ‘e-RU...
Explanation:

1. e-RUPI is not a type of virtual currency launched by the Government of India.
- e-RUPI is a cashless and contactless digital payment solution, which is not a virtual currency.

2. It can be used for delivering services under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.
- This statement is correct. e-RUPI can be used for delivering services under various government schemes, including Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.

3. The private sector can leverage it as part of their Corporate Social Responsibility (CSR) programmes.
- This statement is also correct. The private sector can utilize e-RUPI as part of their Corporate Social Responsibility (CSR) initiatives to provide targeted and efficient support to beneficiaries.
Therefore, the correct answer is option 'B' - 2 and 3 only.
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Which of the following statements is/are correct regarding ‘e-RUPI’ ?1. It is a type of virtual currency launched by the Government of India.2. It can be used for delivering services under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.3. The private sector can leverage it as part of their Corporate Social Responsibility (CSR) programmes.Select the correct answer using the code given below:a)1 and 2 onlyb)2 and 3 onlyc)3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?
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