E-RUPI A New Monetary Transaction For Farmers


Brief Description Of e-RUPI: e-Rupi is considered to be a contactless payment and a medium through which a specific farmer can buy from a specific seller anywhere in the country.

A QR code has been generated through which the payment will be done. Who co-ordinate with government to develop this system?The platform, developed by the National Payments Corporation of India in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority, claims to be a person and purpose-specific digital payment solution. Why this drastic changes were made?

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@1- If the government will directly send money to the farmer’s account, he may use it in other ways like fooding, households, etc. Appropriate item he may not buy.@2 Government can send money to district officers so that they can buy the appropriate product and send it to the farmers. But the mediator may not use the money fully he may not buy good qualities of the product.

To avoid these problems government has come up with this remarkable idea which will help the farmer. How the farmer will buy the product. The farmers have to go to a pesticides retailers and show them the QR code and the funds will transfer to the retailers account.The main important thing is this QR code is available on keypad phones as well as smartphones. The QR code will come through a message to your respective mobile. Merits Of e-Rupi

1.There will be leak proof delivery of welfare service farmers. 2. There will no chances of diversion of mind by seeing a huge amount in hand.3. The fund will be used only for that purpose for which it has been given.4. Zero chances of misuse of funds. 5. Corruption would be less as it is an end to end service. The code will made by NPCI under the coordination of different centralized banks.

Source: Satyajit Sahu, ABM utkal university)

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