Consider the following statements regarding 'e-RUPI':

1. e-RUPI is a voucher to facilitate cashless payment.
2. In some special circumstances, e-RUPI can be permitted for cash out or cash back on redemption.
3. The NPCI (National Payment Corporation of India) has boarded banks that will be the issuing authority for e-RUPI voucher.

Choose the correct statement/s:

Question

Consider the following statements regarding 'e-RUPI':

1. e-RUPI is a voucher to facilitate cashless payment.

2. In some special circumstances, e-RUPI can be permitted for cash out or cash back on redemption.

3. The NPCI (National Payment Corporation of India) has boarded banks that will be the issuing authority for e-RUPI voucher.

Choose the correct statement/s:

Quintessence Classes · Accepted Answer

The correct answer is 1 and 3 only. Here is a detailed breakdown of the statements:Statement 1 is Correct: e-RUPI is a cashless and contactless digital payment medium. It is delivered to the mobile phones of beneficiaries in the form of a QR code or SMS string, acting as an e-voucher for a specific purpose.Statement 2 is Incorrect: e-RUPI is designed for a specific purpose and person. It does not permit cash-out or cash-back. The voucher is redeemed directly by the service provider (like a hospital or pharmacy) without the need for a bank account or digital wallet on the beneficiary's end.Statement 3 is Correct: The National Payments Corporation of India (NPCI) developed the e-RUPI platform on its UPI infrastructure. It has boarded several banks (both public and private) to act as the issuing entities for these vouchers.Key Features of e-RUPIPurpose-Specific: If a voucher is issued for a vaccination, it can only be redeemed at a vaccination center.No Intermediaries: It ensures that the benefits reach the intended person directly, reducing leakages in welfare delivery.Device Independent: Unlike UPI apps, the beneficiary does not need a smartphone or an internet connection to use the SMS string version, making it highly inclusive.

Answer

1 only

Answer

2 and 3 only

Answer

1 and 2 only

Answer & Explanation

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JKPSC JKAS 2022 Prelims

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