You all use UPI in your daily life. But do you know what is e-RUPI and how does the money come into it? How can you withdraw the money deposited in E-RUPI and which bank generates the e-RUPI code? If you have all these questions in your mind then you must read this post from beginning to end. Because in today’s post all your doubts will be clear.
E-RUPI is an advanced version of UPI itself. E-RUPI was launched on 2 August 2021 and UPI on 11 April 2016. And both of them have been made by NPCI (National Payment Corporation of In dia). And all the transactions you do come under the National Payment Corporation of India.
The best thing about it is that you cannot spend the money transferred through it in any other place. If someone has given you the QR code of erupi for books, then only you can buy books from that QR code.
If you want to buy fruits instead of books, then you cannot buy fruits with that QR code. This will benefit all the person that his money will not be spent in any other place and money will be saved.
This is a platform through which the government is going to get a lot of profit. Earlier the government used to give money to a person to build a house. So the government did not know whether the money was being used to build houses or not. But now through this, the government will give you money for the work. You can spend that money at the same place. Now we know what is e-RUPI.
What is e-RUPI?
e-RUPI is the digital currency of India in a way. It is completely like UPI but you are given QR codes in this. And it has been launched by the Prime Minister of India, Narendra Modi, on 2 August 2021 for cashless and contactless payments. Which a beneficiary gets in the form of SMS or QR code. For this, it is not necessary for the person to have a bank account.
Its best feature is that you can pay through QR code to the person without internet front. You don’t need to have an internet connection for that. Only you need to have your QR code. The person who will take payment from your QR code needs internet.
It has been going on for many years from today that the government comes out with any scheme. So half of his money ends up on the way. Example Suppose the government has taken out a scheme of ₹ 100 for a person. So instead of sleeping rupees to that person, only ₹ 55 reaches, no one knows where the remaining ₹ 45 goes in the middle.
But now with the advent of E-RUPI, the amount of money the government has given to a person. Now the meaning of saying that person will get the full amount is this. That if the government has taken out a plan of ₹ 100 for any person. So now that person will not get ₹ 100 in the case because the money disappears in the middle of the case. Therefore, by creating a QR code of ₹ 100 through this platform, the government will reach that person. Due to which no person can disappear money in the middle.
Full Form of QR/NPCI/UPI
QR full form, NPCI full form & UPI full form.
The full form of QR is “Quick Response“
Full form of NPCI is “National Payment Corporation of India“
The full form of UPI is “Unified Payments Interface“
Benefits/Advantages of e-RUPI
Now we have known about erupi in full detail, now let’s talk about its benefits. If you use this application then you get many benefits from it. But in today’s post, we will know about some of its important benefits.
- You do not need any bank account to use it. Even if you do not have a bank account, you can still use this application.
- The money given by the government will be used in the right place. Earlier the person used to invest those money in another place. But now whatever the government will make them a QR code, they can spend that money.
- If the government has taken out a plan of ₹ 100 for a person, then a QR code of ₹ 100 will be given to that person. By which that money will reach that person safely.
- With its arrival, the government’s money will not disappear in the middle and the person for whom the government withdraws money will definitely get that much money.
- Suppose you work in a company and you get five thousand rupees for staying in Taj Hotel in Mumbai. So now the company will give you a QR code of five thousand instead of money, which will run only in Taj Hotel.
- Its best thing is that in this you do not need any document like pan card, aadhar card, voter card, passport.
- It is completely safe to transact with this and in the coming time all the companies will transfer funds through it.
- This is the advance version of UPI and through this you can transfer money to the right place. Meaning no one can steal your money.
How to use e-RUPI
A few years ago today, you had to go to the bank to transfer money. And to deposit and withdraw money in the bank, one had to stand in the bank line for hours. But you all know that now many such UPI apps have come into the market. Through which you can also withdraw money from the bank in a few seconds and also deposit it in the bank. But to use all these applications, you must have an Android smartphone.
If you do not have an Android smartphone. So you cannot use all these UPI apps. And to use all these apps it was necessary to have an internet connection on your mobile. But now with E-RUPI, you can transact money from any mobile through an SMS. For this, your mobile number must be linked with your bank account. And the best thing about it is that you do not need the internet in it.
It is very easy to use, but you can use it for the same thing that you have a QR code. EXAMPLE If someone has made you a QR code to buy the book. So you can buy only a book with that QR code. If you want to buy fruits from him, then when you pay the bill, at that time your ur code will be disabled. But if you do it for the payment book, then the payment will be done from your ur code.
How to Make e-RUPI QR Code
All of you have come to know that what is e-rupi. But this question must be coming to your mind right now that how the E-RUPI QR code is generated. But there is no need for all of you to panic because through this post all your doubts will definitely be cleared. I hope you all have enjoyed reading the post so far. Now we know how to create a QR code to make payments.
You cannot create an E-RUPI QR code and only the bank can make it. The bank will give you a QR code of so many rupees if you want to make a QR code of any number of rupees. This application has just been launched, so there are very few banks that generate QR codes. But in the coming time, there will be no such bank in India that does not generate QR codes. Because when any new technology comes, that technology is not available everywhere at the same time.
But over time you will get this service in all banks. In the coming time, it may also happen that a person can make the payment by creating a QR code himself. Because it cannot be said that how much technology is going to be developed in India in the coming time. With the passage of time, there are many online payment applications available in India.
Similarly, E-RUPI technology will take time to move forward. But gradually with time, this technology will be available to everyone. Due to which you will be able to make payment and you can transfer payment without risk.
Bank Live With E-RUPI
NCPI will take all the charges of e Rupi every process of e Rupi will be done under the NCPI and with the linkage of banks and some banks have already become a part of e Rupi and List of Banks which work with E Rupi are given below:
|Name of the Banks||Acquirer||Issuer||Name of Application acquired|
|State Bank of India||Yes||Yes||YONO SBI Merchant|
|ICICI Bank||Yes||Yes||Bharat Pe and Pine Labs|
|Axis Bank||Yes||Yes||Bharat Pe|
|Union Bank of India||No||Yes||N/A|
|Punjab National Bank||Yes||Yes||PNB Merchant Pay|
|HDFC Bank||Yes||Yes||HDFC Business Application|
|Bank of Baroda||Yes||Yes||BHIM Baroda Merchant Pay|
How e-RUPI Works
The government is going to benefit a lot through this platform. Because of all the schemes that the government takes out for the people, more than half of the money disappears before reaching the people. But now through this platform, the money of the government will reach the people directly. Due to which all the people who are missing money in the middle, can no longer withdraw money. The biggest benefit of this will be given to those people who get subsidies and relief fees from the government.
But you can spend the money given through it at the same place. The place where the government has given you to spend. For example, if you have been given money to build a house by the government, then you can only build a house with that money. If you think that you can do some other work with that money, it is not possible. Because the government will no longer transfer money directly to your account.
Suppose you are going to get 2.5 lakh rupees from the government for building a house. So now the government will give you a QR code of those 2.5 lakh rupees. By which that money director will reach you.
if you use the money of that QR code in any other work, then money will not come out of it. Because the government has given you money to build a house. The government will send a copy of that QR code to all the builders. Due to which that money can be transferred only to the builder.
e-RUPI Official Websites
For the information of all of you, I want to tell you. There is no official website of E-RUPI yet. But in the coming time, it cannot be said that in how much time an official website can be made. But if you want to know the latest updates about its official website. So you must “Allow” the notification given on this post. Because as soon as the official website of e-RUPI is made, you will get its update.
How to Download e-RUPI App
There are many people among all of you who must have searched the E-RUPI App on the google play store. But you would not have had any result show because no app has been made for it yet. But very soon the app of e-rupi will be available on the Google play store very soon.
If you want to download the E-RUPI App, then you will have to wait for a little for that. Because this application is not available on the play store yet. Whenever the developers build this application, only then it will be available on the Google Play Store. If you want to know about its update, then definitely allow the notification given on the website. With this, you will continue to get information about any trending updates.
e-RUPI 2 was launched in August 2021.
UPI was launched on 11th April 2016.
It has been made to reach the right amount of compensation to the people through E-RUPI.
e-RUPI does not have any official website. But as soon as its official website comes, you will get the first update through this post.
You cannot spend the money of e-RUPI for other work. Because in this you are given payment through QR code. With which you can use it for the same work for which you have been paid.
What is E-RUPI and how to use it? What is the QR code of E-RUPI and who will get it. And from which bank you can get it done. Today we all have got complete information about RUPI. I sincerely hope that you all must have liked today’s post. How did you all like this post, definitely tell in the comment section? And tell all of you how the government’s plan is in the comment section.
If you want to know the latest updates to our website Prokeeda.com. So for that, you have to “Allow” the notification given on our website. After that, you can know about trading updates. I sincerely hope that you will definitely allow the notification to know trading updates. If you use Telegram, you can also follow us on Telegram.
If you all like this article, then you must share it with your friends, relatives, and family members. You can use any social media platform to share. Like you can share using WhatsApp, Facebook, Instagram, Telegram, etc. If you need information about any trending topic then you must tell in the comment section.