New Delhi [India], August 2 (ANI): Prime Minister Narendra Modi on Monday launched e-RUPI, a person and purpose-specific digital payment solution, and said it will play a huge role in making DBT more effective and give a new dimension to digital governance.

Addressing the event through video conference, he said cashless and contactless instrument for digital payment will help in targeted, transparent and leakage-free delivery.

The Prime Minister said that the world is recognising India's strength in digital infrastructure and digital transactions due to the work done in the last six-seven years. "Specially in Fintech, a huge base has been created. This is not there is big countries also," he said.

He said India is proving to the world that it is second to none in adopting technology and adapting to it.

"Whether it is innovations, use of technology in service delivery use of technology in service delivery, India has the ability to give global leadership along with other major countries of the world," he said.

The Prime Minister said some people use to say earlier that technology is for the rich and India is a poor country and does not need it and when his government talked of making technology a mission, it was questioned by the political leaders and certain types of experts.

"But today the country has proved this thinking wrong and fallacious. Today the country thinks differently. Today technology is seen as a tool for the progress of the poor," he said.

PM Modi said e-RUPI is a symbol of how India is progressing by connecting people's lives with technology and the "the futuristic reform initiative" has come at a time when the country is celebrating the Amrit Mahotsav to mark the 75th anniversary of independence.

Noting that if any organization wants to help persons in their treatment, education or for any other work, they will be able to give an eRUPI voucher instead of cash, he said it will ensure that the money given is used for the work for which the amount was given.

The Prime Minister noted that technology is bringing transparency and integrity in transactions and creating new opportunities.

He said the foundation for solutions like e-RUPI was laid over the years through JAM which connected mobile and Aadhaar.

He said the benefits of JAM took some time to be visible to people and helped the needy during the COVID-induced lockdown when other countries were struggling to help their people.

He noted more than Rs 17.5 lakh crore have been transferred directly to the accounts of the people through Direct Benefit Transfer.

Noting that more than 300 schemes are using DBT, he said 90 crore people are being benefited in some way in the form of schemes and programmes related to LPG, ration, medical treatment, scholarship, pension or wage disbursal.

He said that money under PM Kisan Samman Nidhi has been sent through DBT and Rs 85,000 crore for government purchase of wheat were also disbursed in this manner.

"The biggest benefit of this all is that Rs 1.78 lakh crore were prevented from going to the wrong hands, '' he added.

The Prime Minister noted that the development of digital transactions in India has empowered the poor, small businesses, farmers and tribal population.

He said this can be felt in the record of 300 crore UPI transactions in July amounting to Rs 6 lakh crore.

The Prime Minister said that the PM Svanidhi Yojana has helped more than 23 lakh street vendors in small towns and large cities of the country. During this pandemic period, about Rs 2300 crore has been disbursed to them. (ANI)