Technology trends in Banking, e-RUPI, Fintech - RegTech, SupTech, Hashtag banking etc | PAPER II – PRINCIPLES & PRACTICES OF BANKING | MODULE C: BANKING TECHNOLOGY
Technology Trends in Banking Technology Trends in Banking 1. e-RUPI e-RUPI is a digital voucher-based payment system initiated by the Government of India. It is a prepaid digital instrument that enables cashless and contactless transactions. e-RUPI ensures targeted and leak-proof delivery of welfare services, such as health and education benefits, directly to the beneficiaries without intermediaries. Example: Suppose a government provides a healthcare voucher worth ₹1,000 to a beneficiary for medical treatment under a government scheme. The beneficiary receives an SMS or QR code with the voucher, which they can use to redeem at a hospital or healthcare provider that accepts e-RUPI. 2. Fintech, RegTech, and SupTech Fintech (Financial Technology) refers to the integration of technology into offerings by financial services comp...