Prime Minister Narender Modi today launched an
Aadhaar Based mobile App. This app is named as BHIM (Bharat Interface For Money)
to promote a cashless economy in India,
the government is initiating different steps towards digital payment. On 8th
November 2016, when government of india demonetized rupees 500 and 1000 notes in India , since then various steps have
been taken to make India as a cashless Economy
PM Modi has
introduced this facility to improve digital Payment in the country. This app is
a re-branded version of USSD (Unstructured Supplementary Service Data) and UPI
(Unified Payment Interface) App. BHIM is developed in India by National Payment
Corporation of India NPCI. The app is dedicated to serve the
Today at the Digi Dhan Mela event in Talkatora stadium in New
Delhi, PM launched BHIM app. Smart phone users can download this app from
Google Play Store for free of cost. Modi also distributed prizes to the winners
of Lucky Grahak Yojana. Narender Modi himself made payment through the newly
launched app. It is assumed that this new app will minimize the role of plastic
cards like debit or credit card. The app is likely to reduce the burden on PoS
machines. This app may be helpful for both the customer and the shopkeeper.
Most of the shopkeepers hesitate to accept digital payment via debit or credit
card, because these master/visa cards take fees for their service from
shopkeepers. This app can also be used in the remote area where PoS machines
are difficult to install.
How the app works
First, a smartphone user has to install the app from the play
store. After installation the user has to register his bank account/accounts in
this app using his Mobile number that is registered with the bank account. The
app will automatically retrieve user's bank account information. After that the
user can make payments using QR code or mobile number of the other user who has
also registered his mobile number at BHIM. A user can add all his bank accounts
in this single app. He can make transaction from any of his accounts. A
customer can send or receive money from his friends, family members or any
other person using the mobile number or payment address. He can also pay using
banks IFSC code and account number of the person.
Customer can also check balance of his accounts on the go.
Maximum transaction limit is 10000 per transaction and 20000 for
24 hours.
Supported Banks are:-
1. Allahabad Bank
2. Andhra Bank
3. Axis Bank
4. Bank of Baroda
5. Bank of India
6. Bank of Maharashtra
7. Canara Bank
8. Catholic Syrian Bank
9. Central Bank of India
10. DCB Bank
11. Dena Bank
12. Federal Bank
13. HDFC Bank
14. ICICI Bank
15. IDBI Bank
16. IDFC Bank
17. Indian Bank
18. Indian Overseas Bank
19. IndusInd Bank
20. Karnataka Bank
21. Karur Vysya Bank
22. Kotak Mahindra Bank
23. Oriental Bank of Commerce
24. Punjab National Bank
25. RBL Bank
26. South Indian Bank
27. Standard Chartered Bank
28. State Bank of India
29. Syndicate Bank
30. Union Bank of India
31. United Bank of India
32. Vijaya Bank
