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The Reserve Bank of India (<keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>) on Thursday proposed to enhance the cap under <keyword id="11912975" type="General" weightage="20" keywordseo="e-rupi" source="Orion">e-RUPI</keyword> prepaid digital vouchers. The present cap of Rs 10,000 will be increased to Rs 1 lakh per voucher and such vouchers will be allowed to be used more than once, RBI Governor Shaktikanta Das said while announcing the latest monetary policy meeting outcome. This enhancement is expected to further facilitate the delivery of various government schemes to the beneficiaries more efficiently, he said. The e-RUPI pre-paid digital voucher developed by the National Payments Corporation of India (NPCI) was launched in August 2021, Das added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/icai-ca-final-exam-results-announced-heres-how-to-check/articleshow/89477021.cms">ICAI CA final exam results announced — Here’s how to check</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/two-indian-cities-are-in-global-top-10-of-the-most-congested-places-to-drive-through-take-a-guess/slidelist/89476030.cms">Two Indian cities are in global top 10 of the most congested places to drive through – Take a guess</a>

RBI proposes to raise limit on e-RUPI vouchers to ₹1 lakh

<ul><li>Prime Minister Narendra Modi will launch a new digital payment solution called <keyword id="11766571" type="UNKNOWN" weightage="20" keywordseo="e-RUPI">e-RUPI</keyword>.</li><li>Banks will issue electronic vouchers for customers to redeem welfare benefits without having to share bank account details.</li><li>The <keyword id="11772195" type="UNKNOWN" weightage="20" keywordseo="e-voucher">e-voucher</keyword> solution has the potential to eliminate fraud and corruption.</li></ul>The Prime Minister of India, Narendra Modi will be launching 'e-RUPI', an electronic voucher-based digital payment solution at 4:30 p.m IST on Monday. The person-specific, and purpose-specific, payment solution is developed by the National Payments Corporation of India (NPCI) on its Unified Payment Interface (UPI) platform in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare and the National Health Authority. What is e-RUPI? According to a statement from the Prime Minister’s Office, e-RUPI is a cashless and contactless digital payment e-voucher in the form of a QR code or SMS string delivered to the beneficiary's mobile phone. The e-voucher can be redeemed at the service provider without needing a card, digital payment app or internet banking service. The e-RUPI is a one-time payment mechanism that does not require any physical interface for transactions and is considered safe as it's prepaid in nature. It ensures that the payment to the service provider is made only after the transaction is completed without involving any intermediary. How is e-RUPI different from a virtual currency? e-RUPI can be used to make payments to a specific person, for a specific purpose, and is not transferable. On the other hand, a virtual or digital currency is just like normal currency but in digital form and can be used for any transaction. How are these vouchers issued? The vouchers will be issued by partner banks but the bank account details of the beneficiary are not needed. NPCI has built the e-RUPI system on its UPI platform and anyone who needs to issue the voucher would need to approach partner banks with issuing authority. Entities giving the e-RUPI voucher will have to submit the details of specific beneficiaries and the purpose of the payment to the banks. The beneficiary's identification will be based on their mobile number and name. What's the need for e-RUPI? The Indian government says that e-RUPI is expected to ensure a leak-proof delivery of welfare services and minimise fraud and corruption. Since it removes the middlemen and there's no direct cash involved, it eliminates the possibility of the fund being used for a purpose other than intended. It can be used for delivering services under government welfare schemes like drugs and nutritional support under Mother and Child welfare schemes, TB eradication programmes, drugs and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies etc. Not only government schemes but the voucher can also be used by the private sector for employee welfare and corporate social responsibility (CSR) initiatives. SEE ALSO - <a href="https://www.businessinsider.in/stock-market/news/windlas-biotech-to-raise-395-402-crore-through-public-listing-price-band-fixed-at-448-460/articleshow/84854594.cms">Windlas Biotech to raise ₹395-402 crore through public listing, price band fixed at ₹448-460</a> <a href="https://www.businessinsider.in/tech/mobile/news/googles-sundar-pichai-has-teased-the-whitechapel-chipset/articleshow/84853916.cms">Google teases Whitechapel chipset that may power Google Pixel 6 devices</a>

e-RUPI explained —  India’s new electronic voucher-based payment system to reduce leakage in welfare programmes

<ul><li><a href="https://uhi.abdm.gov.in/">UHI </a>is a network that can enable interoperability in health services.</li><li>Through <keyword id="1766345" type="General" weightage="80" keywordseo="uhi" source="Orion">UHI</keyword> enabled applications, patients can discover, book, conduct and pay for services via an application of their choice. </li><li>e-RUPI is a new fintech initiative for instant payment to healthcare service providers in the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.</li></ul>Just like <keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword> revolutionized payment transactions in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, Unified Health Interface or UHI will revolutionize digital health service delivery, said Dr R S <keyword id="445" type="General" weightage="80" keywordseo="sharma" source="Orion">Sharma</keyword>, CEO, <keyword id="7183605" type="General" weightage="50" keywordseo="national-health-authority" source="Orion">National Health Authority</keyword>, <keyword id="191419" type="General" weightage="50" keywordseo="ministry-of-health-and-family-welfare" source="Orion">Ministry of Health and Family Welfare</keyword> at IFTA 2022 held in Mumbai. A foundational layer of the Ayushman Bharat Digital Mission (ABDM) stack, <a href="https://uhi.abdm.gov.in/">UHI </a>is a network of open protocols that can enable interoperability in health services. Through UHI enabled applications, patients can discover, book, conduct and pay for services offered by a variety of participating providers via an app of their choice. “UHI facilitates the ease of doing business for health care service providers by granting them access to a large number of users, through the medium of a common platform. This paradigm shift in healthcare delivery also gives rise to a sea of opportunities for the emerging HealthTech ecosystem” said Dr Sharma. Some of the services that will be included in UHI are teleconsultation, lab booking and ambulance services. The healthcare system is also working on enabling payments via e-RUPI, as part of a fintech initiative for instant payment to healthcare service providers - under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, a government funded health insurance scheme. e-RUPI is a person and purpose specific digital instrument based on the architecture of UPI. It’s a one-time, cashless, contactless prepaid digital voucher which can be availed through an SMS or QR Code. It can be redeemed without a card, digital payments app, or internet banking access. “e-RUPI will have myriad use cases: to start with, health, nutrition, education and agriculture are just a few areas that are going to benefit from it. A number of states have already started using e-RUPI for various benefit delivery programmes in their states,” Dr Sharma added. It was launched by <keyword id="12394777" type="General" weightage="50" keywordseo="national-payments-corporation-of" source="Orion">National Payments Corporation of</keyword> India (NPCI) in August <a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1743056">2021</a>. Dr Sharma believes that it is time that we innovate new products in the fintech industry which could be combined with healthtech for an affordable, scalable and accessible digital healthcare ecosystem. IFTA 2022 is a fintech event hosted by <keyword id="8249528" type="General" weightage="50" keywordseo="india-fintech-forum" source="Orion">India FinTech Forum</keyword>, an advocacy group. More than 2,750 fintech companies and over 30,000 individuals are members of this forum. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/urban-company-grants-shares-worth-rs-5-2-cr-to-497-gig-workers/articleshow/95828715.cms">Urban Company grants shares worth Rs 5.2 cr to 497 gig workers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/indonesia-relaunches-multiple-entry-visa-that-was-deactivated-during-the-pandemic/articleshow/95828509.cms">Indonesia relaunches multiple entry visa that was deactivated during the pandemic</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/tips-to-make-whatsapp-more-private-and-secure/articleshow/95825054.cms">Tips to make Whatsapp more private and secure</a>

‘United Health Interface will do to service delivery what UPI did to payments’

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>'s first homegrown Messenger RNA (mRNA) Covid19 vaccine, being developed by Pune-based Gennova Biopharmaceuticals, is currently under final clinical trials, <keyword id="2665691" type="General" weightage="20" keywordseo="NITI-Aayog" source="Orion">NITI Aayog</keyword>'s Member, Health, Dr <keyword id="9781408" type="General" weightage="20" keywordseo="v-k-paul" source="Orion">V.K. Paul</keyword>, said on Thursday. Briefing the media, he said that they are hopeful that they will be able to use this vaccine soon. "We need mRNA platform because it has shown that vaccines developed on this platform, at least for Covid-19, have been effective worldwide," said Paul, adding that beyond Covid, this platform will continue to be important as an option for future for other diseases also for which vaccines have been elusive. He termed it as an great development. Indian Council of Medical Research Director General, Dr Balram Bhargava, said that this is another vaccine which really establishes that India is heading towards becoming a vaccine superpower. "Because large parts of the population are vaccinated, we are not seeing the disastrous third Covid surge in terms of hospitalisations and mortality," he said. About the ongoing pandemic situation, Dr Paul said that the world had learned a great deal about pandemic and the virus, but doesn't know everything. The world should remain united to fight this virus and should continue to use the tools that are at our disposal, he added. "Some states including Kerala, Mizoram, Himachal Pradesh are still reporting a large number of cases. We cannot lower our guard," he said SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/online-travel-booking-portal-cleartrip-to-increase-its-workforce-by-end-of-this-year/articleshow/89481099.cms">Online travel booking portal Cleartrip to increase its workforce by 400 by end of this year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbi-proposes-to-raise-limit-on-e-rupi-vouchers-to-1-lakh/articleshow/89480944.cms">RBI proposes to raise limit on e-RUPI vouchers to ₹1 lakh</a>

India's first mRNA COVID-19 vaccine under final trials, says Dr V.K. Paul

<ul><li><keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>’s factories are reopening and that has led to job creation in July 2021, for the first time in 15 months.</li><li>New export orders showed an encouraging jump, according to the survey.</li><li>The <keyword id="122232" type="ORGANIZATION" weightage="20" keywordseo="Centre-for-Monitoring-Indian-Economy">Centre for Monitoring Indian Economy</keyword>, which releases weekly data, had also suggested some improvement in job creation in July.</li></ul>India’s factories are reopening and that has led to job creation in July 2021, for the first time in 15 months. The latest manufacturing purchasing manager’s index, compiled by IHS and Markit, shows that factory activity was at its highest in the last three months. This has led to a recovery, a marginal one, in hiring. This was the first time since March 2020 that India’s factories saw a net addition in <keyword id="11018" type="COMPANY" weightage="20" keywordseo="Jobs">jobs</keyword>. <div type="image" title="IHS Markit" msid="84969490" hostid="261" caption="&amp;lt;p&amp;gt;IHS Markit&amp;lt;/p&amp;gt;"></div> “Output rose at a robust pace, with over one-third of companies noting a monthly expansion in production, amid a rebound in new business and the easing of some local COVID-19 restrictions,” <keyword id="2835710" type="PERSON" weightage="20" keywordseo="Pollyanna-De-Lima">Pollyanna De Lima</keyword>, Economics Associate Director at IHS Markit and author of the report, said. New export orders showed an encouraging jump, according to the survey. However, while production resumed, the cost of raw materials rose at a faster pace than the output. The Centre for Monitoring <keyword id="6356076" type="DEFINITION" weightage="20" keywordseo="indian-economy">Indian Economy</keyword>, which releases weekly data, had also suggested some improvement in job creation in July. “The July 2021 employment rate could end close to the March rate of 37.6 per cent. This is promising,” the report said. <div type="image" title="India&amp;#39;s employment rate" msid="84969646" hostid="261" caption="&amp;lt;p&amp;gt;India&amp;#39;s employment rate&amp;lt;/p&amp;gt;"></div> Not just that, the labour participation rate also improved to 41.1% in the week ended July 25 compared to 40% or lower in the preceding three months. There is a greater demand for jobs and most of this demand is being met, the CMIE report had added. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/e-rupi-the-e-voucher-solution-has-the-potential-to-eliminate-fraud-and-corruption/articleshow/84967798.cms">e-RUPI explained — India’s new electronic voucher-based payment system to reduce leakage in welfare programmes</a> <a href="https://www.businessinsider.in/business/corporates/news/nazara-is-building-up-esports-muscle-before-jio-dream11-and-others-attack/articleshow/84967452.cms">Nazara is building up esports muscle before Jio, Dream11 and others attack</a> <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">All you need to know about the IPO from Policybazaar, India's sixth largest fintech startup</a>

You Searched For "e rupi" and got 5 results

RBI proposes to raise limit on e-RUPI vouchers to ₹1 lakh

IANS

e-RUPI explained — India’s new electronic voucher-based payment system to reduce leakage in welfare programmes

Sudhanshu Singh

‘United Health Interface will do to service delivery what UPI did to payments’

Eetika Kapoor

India's first mRNA COVID-19 vaccine under final trials, says Dr V.K. Paul

IANS

Indian factories added jobs for the first time in 15 months

Sriram Iyer

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