The answer to the above question is (c). Explanation: 'e-RUP | ECONOMY by VIVEK SINGH

The answer to the above question is (c).

Explanation:

"e-RUPI" is not a digital/virtual currency. It is not a currency at all. Its just an electronic voucher backed by Indian rupee.

"e-RUPI" can be issued by Govt. agency or private corporate entities THROUGH banks. This means that a Govt. agency can use this electronic voucher (e-RUPI) facility if they want to implement welfare schemes. For example, if the price of Rice is Rs. 25/kg in the market and Govt. wants to provide it in Rs. 3/kg to a particular beneficiary, then Govt. agency will approach a (partner) bank and will provide the details of that particular person/beneficiary to the bank. The bank will send the e-RUPI (SMS string or QR code) to the mobile No. of that beneficiary. The beneficiary can then use this e-RUPI (electronic voucher) and go to specified shops and this e-RUPI will be scanned at that particular shop and the beneficiary will get one KG rice by paying just Rs. 3. The shopkeeper (after scanning) will get Rs. 25 - Rs. 3 = Rs. 22/kg from the bank. The bank will get Rs. 22/kg from the Govt. agency.
In the same way a private corporate entity can also use this if they want to provide any benefit to its employees.

So, basically "e-RUPI" can be issued by Govt. Agency/Corporate entity (which means that Govt./private agency can use this system) but the e-RUP (SMS string/ QR code) will be sent by BANKS to the beneficiaries.

e-RUPI cannot be transferred or converted into cash.

And please read the following links, each and every point has been explained.
https://t.me/VivekSingh_Economy/3123
https://t.me/VivekSingh_Economy/3129

A CAUTION for students: By seeing your answers, it seems that you guys are just focussing on the NEWs HEADLINES rather than reading the newspaper properly. It was very clear in the newspaper article/explanation that "e-RUPI" is just a electronic voucher and not digital currency. Newspapers just want to highlight the headlines through buzzwords like "Digital Currency". Do not fall into that trap. Similar was the case when few TRAINS were give to IRCTC to run/operate and every newspaper said... Trains are being PRIVATIZED, which was wrong.