Bank of Baroda Introduces P2P eRUPI Digital Gifting through UPI

1. Feature Overview

• Bank: Bank of Baroda (BoB)
• Platform: It was launched on the bob इ Pay UPI application.
• Functionality: An online digital gifting platform between a person and another person on the basis of NPCI e-RUPI vouchers.
• Significance: It is the first-of-its-kind in the Indian banking industry.

2. Key Characteristics & Usage

• Purpose: This gives customers the option of sending purpose-specific, prepaid digital vouchers through the app to anyone.
• Value Range: Vouchers may be sent to the value between 1 rupee and 10000 rupees.
• Security Features:
  • Vouchers are not transferable.
  • The money is automatically returned to the fund in case it was not redeemed subject to the validity period.
• Limitations: There is no restriction on the number of vouchers dispatched, yet there are normal daily transaction limits of UPI.

3. Benefits

• Offers a convenient, safe and non-cash system of gifting.
• Ensures inclusiveness and privacy.
• Ensuring that the gifted money is spent in accordance with its purpose.

About Bank of Baroda (BoB)

• Founded: 1908
• Head office: Vadodara, Gujarat.
• MD & CEO: Debadatta Chand
• Tag line: international bank of India.