e-RUPI voucher limit to be enhanced to ₹1 lakh

The limit on the e-RUPI digital voucher will now be increased to ₹1 lakh from the current cap of ₹10,000. This was announced by RBI Governor in a statement following the monetary policy meeting.

Governor said, “It is now proposed to increase the cap of e-RUPI vouchers issued by the Central government and State government from ₹10,000 to ₹1,00,000 per voucher and permit such e-RUPI vouchers to be used more than once”.

The move will further facilitate the delivery of different government schemes to the beneficiaries more efficiently, he added. The e-RUPI prepaid digital voucher, developed by the NPCI, was launched on August 21 and runs on the UPI platform. It is a person-specific and person-specific cashless voucher and can be used by individuals, corporates, or governments. At present, it is used largely for covid vaccination purposes. Experts said the move can help expand the scope of e-RUPI vouchers.

Harish Prasad, Head of Banking, India, FIS, said, “The scope of application of e-RUPI vouchers expands and deepens significantly across the board. This also has the strength to make inroads to certain areas addressed by gift cards”.

Dilip Modi, Founder, Spice Money said, “The move to allow the use of e-RUPI vouchers several times will help in addressing the challenges faced by the rural population including low internet penetration and provide secured payment solutions”.