Prime Minister Shri Narendra Modi launched digital payment solution e-RUPI, a person and purpose specific digital payment solution, today via video conference. e-RUPI is a cashless and contactless instrument for digital payment.
Category: Direct Benefit Transfer (DBT)
Things are moving fast with the COVID-19 novel coronavirus. On March 12 WHO declared that the virus is now a pandemic and President Trump announced 30 day ban on all travel from EU to the US. If the virus spread continues the Analysts fear that the Global Economy may slip into recession. If the Economy slips into recession it will slip for two consecutive quarters i.e. six months period. The Supply chains are affected. Various sectors such as Chemical, Pharmaceutical, Service, Transportation, Tourism, Hospitality industry etc will badly impacted. Digital Banking and Online Shopping will increase.
Covid-19 relief package: FM announces Rs 1.7 trn plan for poor and migrants under the Pradhan Mantri Gareeb Kalyan Scheme.. Package announced includes both food security and cash transfer components.