BHIM app make a new record, crossed 140 Lakh reistrations- IT minister

The recently launched Bharat Interface for Money (BHIM) app has seen more than 140 lakh registration, IT Minister Ravi Shankar Prasad said in New Delhi on Friday.

“The recently launched BHIM app by the government of India will unleash the power of mobile phones for digital payments and financial inclusion. So far, over 140 lakh people have adopted the BHIM app,” Prasad said.

He added that the government will launch two new schemes to promote the usage of BHIM – Referral Bonus Scheme for individuals and a Cashback Scheme for merchants.
Aadhaar Pay, a merchant version of Aadhaar Enabled Payment System, will also be launched shortly. This will be specifically beneficial for those who do not have debit cards, mobile wallets and mobile phones.

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“Digital economy aims for speed, accountability and transparency. We are also creating an eco-system to make India a global hub for electronics manufacturing,” the minister said, adding: “Over 250 investment proposals for electronics manufacturing have been received in the last two years, totalling an investment of Rs. 1.26 lakh crores.”

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Here’s an insight into what BHIM app actually is:

* BHIM is a mobile wallet app and is similar to Paytm, Mobikwik, Freecharge and others.

* BHIM or Bharat Interface for Money is an initiative to enable fast, secure and reliable cashless payments through mobile phone.

* BHIM is interoperable with other unified payment interface (UPI) applications and bank accounts.

* BHIM has been developed by the National Payment Corporation of India (NPCI).

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Other features:

* Balance in your bank account can be checked and the transaction details can be obtained within no time.

* You can scan a QR code for faster entry of payment addresses. Merchants can easily print their QR code for display.

* Maximum of Rs 10,000 per transaction and Rs 20,000 within 24 hours can be made through the BHIM app.

* The app supports both Hindi and English language however, addition will be made soon.

List of banks it supports:

• 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

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