BHIM app launched as a means for cashless initiative

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BHIM app launched to make digital transaction

To push Country towards digital economy Prime-minister Modi on Friday launched BHIM (Bharat Interface for Money) app, named Dr BR Ambedkar. The app was launched in a DigiDhan Mela held at Talkatora Indoor Stadium in New Delhi.

What you need ti know about BHIM ?

BHIM stands for Bharat Interface for money. BHIM is a UPI (Unified Payment Interface) based payment solution, which would allow anyone to make simple digital payments directly from their bank account.

App is available for android smartphones on Google play for free use.The app will be soon available for iOS platform. Apart from an app, the interface can be accessed using USSD (Unstructured Supplementary Service Data) from feature phones – you will need to dial *99# to access it. With this method, an Internet connection will not be required.

“Be it a smartphone or feature phone of Rs 1,000-1,200, BHIM app can be used. There is no need to have Internet connectivity,” says PM Modi. “One only needs a thumb. There was a time when an illiterate was called ‘angutha chaap’. Now, time has changed. Your thumb is your bank now. It has become your identity now”,he further added.

Image result for bhim app

Government has permitted  maximum of Rs. 10,000 per transaction permitted, and Rs. 20,000 within 24 hours through the interface.

Through the app, you can send or receive money to a phone number, check balance, or scan a QR code to make a payment without sharing a phone number.

Money can also be sent to non-UPI banks through IFSC, like you do with net banking.

Bank which support the interface

All the major apps are supported by the BHIM app. The list include :Allahabad Bank, Andhra Bank, Axis Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Catholic Syrian Bank, Central Bank of India, DCB Bank, Dena Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, IDFC Bank, Indian Bank, Indian Overseas Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Kotak Mahindra Bank, Oriental Bank of Commerce, Punjab National Bank, RBL Bank, South Indian Bank, Standard Chartered Bank, State Bank of India, Syndicate Bank, Union Bank of India, United Bank of India, Vijaya Bank.

The PM also reiterated that digital transactions will be rewarded with cash prizes from the government. So get ready to be digitised and win some exiting cash prices.