Discover and read the best of Twitter Threads about #eRUPI

Most recents (7)

RBI announced no change in policy rates in its meet today. But was this MPC a non-event then?

No. Infact, this was a very progressive policy.

RBI made 4 key announcements that further strengthen India's position as a Digital superpower.

A thread

RBI Allowed:
1. FLDG between Bank/ NBFC and Fintech partners - will deepen credit & Digital lending
2. Use of RuPay Forex Cards for overseas transactions
3. Issue of eRuPi vouchers by non-bank PPI holders
4. BBPS - membership rationalisation

I''ll explain below:

RBI Meet 1: FLDG arrangement

FLDG stands for First Loan Default Guarantee. As the name suggests, it is a guarantee by Fintech (loan service provider) to compensate the Bank/NBFC up to a certain percentage of default in the loan portfolio that it originates for them.
Read 15 tweets
There is a lot of confusion on this #UPI charges and its being made to spread multiple 'fake news' in a area where there is clarity. This directly stems from fact - who is allowed to price on what?

#CashlessConsumer will attempt to decode this in a 🧵
1. What is being announced?

NPCI will charges #MDR for transactions above ₹2000 - when the payment mode by user is a wallet.

Note - this is not the same as using PhonePe / GPay.

It is applicable only when you use Wallet - PhonePe / PayTM are popular wallets still exist.
It is not applicable when you use UPI via banks.

2. Who is making this announcement?


3. Can NPCI make this announcement?
All Payment operators are at liberty to price payment products - except ATM interchange - which @RBI actively regulates.
Read 13 tweets
FAQ's on #DigitalRupee

A Thread 🧵
What is CBDC?
How will the #eRUPI work?
Read 12 tweets
What is #eRUPI?

eRUPI is a gamechanger by @narendramodi,showing his commitment to last mile delivery with zero tolerance for corruption

#eRUPI is a non-cash&contactless tool for digital payments;It acts as a voucher,based on QR code or SMS &is sent to beneficiary’s mobile phone
#MudraBank #eRUPI digitally connects service initiators with beneficiaries,sans physical interface

It also ensures payment is made to service provider only after transaction is completed

eRUPI is prepaid in nature,with timely payment to service provider without any intermediary
eRUPI’s single payment mechanism will allow users to redeem coupons at service providers without a card, digital payment application,or access to online banking

#eRUPI is developed by National Payments Corporation of India, #NPCI,on its UPI platform&will enhance #Digitisation💪
Read 5 tweets
पंतप्रधान @narendramodi यांच्या हस्ते, आज 2 ऑगस्ट रोजी दूर दृश्य प्रणालीच्या माध्यमातून ई-रूपी या व्यक्तिगत आणि उद्देश निश्चित डिजिटल पेमेंट सुविधेचे उद्घाटन होणार

⏲️ 4.30 वाजता


📡थेट पहा📡

पंतप्रधान @narendramodi यांच्या हस्ते डिजिटल पेमेंट सुविधा –ई रूपी चे उद्घाटन


#eRUPI ही रोख आणि संपर्क विरहीत डिजिटल पेमेंट सुविधा आहे

ही कयूआर कोड किंवा लघु संदेश सेवा आधारित ई-पावती, जी लाभार्थ्याच्या मोबाईलवर पाठवली जाते

Read 8 tweets
#eRUPI #UPI Vouchers for benefits is a radical departure from #DBT. Purpose and person aware #G2P payments are here. #SaveOurPrivacy… is digitized food stamps, but crucial digitization difference is it converts a bearer instrument like stamp / coupon into a person / purpose specific instrument, embedding automatic data emission about beneficiary upon use.
The naming of this is curious. When countries around the world are discussing #CBDC / issuing new digital currency, naming a private payment instrument #eRUPI is sign of things to come (?). One can only speculate at the moment.
Read 17 tweets
8.9% YoY #CoreSector growth in June 2021,rise in Exports by 48.34% in June,with #ServicesExports rising from $17bn in 2001 to $205 bn in 2021,under @narendramodi govt,V shaped recovery,is gaining traction

India's IT sector recruited 69132 people in 1QFY22

My thread on #Economy
Almost every month,over 2.5 billion transactions are done in India,via #UPI,worth Rs 5 lakh Cr+

#eRUPI,developed by NPCI under aegis of @narendramodi govt,will now add to #DigitalTransformation

#DigitalEconomy set to be a Trillion Dollar one,by 2025-26,thx to cashless payments Image
#GST Revenue at 1.16 lakh Cr in July'21 bodes well

Since Oct 2020,#GSTRevenue has been over Rs 1 lakh Cr every single month,barring June,when it dipped to 92849Cr

Biggest drop in contribution is from #Maharashtra,due to continued uptrend in #Covid,thx to inept @CMOMaharashtra👎
Read 6 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!