The Reserve Bank of India (RBI) has increased the maximum amount of e-Rupi from Rs 10,000 currently to Rs 1 lakh. Earlier the e-voucher had a one-time payment mechanism but now it can be used multiple times until the amount is fully redeemed. This will ensure the effective delivery of benefits of central and state government schemes. It’s not mandatory for beneficiaries to have a bank account to receive e-RUPI. Further, the delivery is contactless.
E-RUPI can be used by the micro, small and medium enterprises (MSMEs) and private sector for business-to-business transactions and deliver employee benefits.
e-Rupi can be used by private corporations as well as for various customer segments including larger value corporate gifting, transit/payroll/student cards, forex travel cards. Experts believe that the expansion of e-RUPI has the potential to make advances into particular spheres addressed by gift cards and there can be a link between the proposed Digital rupee and e-RUPI programmes.
