National Payments Corporation of India (NPCI), State Bank of India (SBI), and the government of Karnataka’s department of e-governance have partnered to enable and implement e-RUPI, a cashless and contactless payment solution, for students under the government’s scholarship program.
The Karnataka government will adopt e-RUPI to enable a leak-proof delivery of education fees to eligible students by paying digitally to the colleges/institutes. The government will provide e-vouchers to eligible students on their mobile phones. The voucher code can also be received via a feature phone. Students will be able to redeem e-RUPI at the designated colleges/institutions for the purpose of paying fees.
Challa Sreenivasulu Setty, Managing Director, retail and digital banking, State Bank of India, stated that the Prime Minister announced e-RUPI (UPI prepaid voucher) on August 2, 2021, with Covid-19 vaccination as the first use case. “Due to its hassle-free usage coupled with secured and cashless features, the government has envisaged extending the use of e-RUPI to other use cases like DBT, scholarships, kerosene oil distribution, subsidised distribution of food grains, donations, and groceries. State Bank of India is one of the leading banks in the implementation of e-RUPI for other use cases by providing an end-to-end solution to the government of Karnataka for the distribution of scholarships to students for their education,” he said.