Full Form of EPY

What is EPY?

The Electronic Payment Yojana (EPY) is a government initiative launched to promote digital and cashless transactions across India, particularly in rural and semi-urban areas. Under the Digital India campaign, EPY aims to reduce the dependency on physical cash by encouraging the use of electronic payment methods such as UPI, debit cards, mobile wallets, and internet banking. This scheme provides incentives and awareness programs to individuals and small businesses, making digital payments accessible and secure. EPY is implemented through banks, fintech companies, and common service centres, and is often used during government benefit transfers, scholarship disbursements, and subsidy payments. It plays a key role in financial inclusion, helping bring unbanked populations into the formal banking system. The Yojana also supports the government's vision of a less-cash economy, improving transparency and reducing leakage in welfare schemes. For competitive exams like UPSC and SSC, questions related to EPY are often part of the current affairs and economic development sections, testing candidates' knowledge of digital financial inclusion policies.

EPY का फुल फॉर्म

Example

Through the EPY, the state government ensured that all LPG subsidy amounts were directly credited to beneficiaries' bank accounts via digital mode.

EPY — frequently asked questions

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