new indigenously developed payment app 'BHIM' (Bharat Interface for
Money) has been named after the main architect of Indian
constitution, Bhim Rao Ambedkar. Through this app, Bharat Ratna Bhim
Rao Ambedkar's name will take the centre-stage in India's economy. The
day is not far, when people will conduct their business through this
app. This app will create financial equality in the Country, as
envisaged by Dr. B.R. Ambedkar ’ said Ramesh Jigajinagi , Union Minister
of State, Ministry of Drinking water and sanitation.
Prime Minister Shri Narendra Modi has been introducing many welfare
Schemes for the Developments of Dalits, backward classes and financially
backward class people. Indeed, BHIM will curb black money system and
create equality in the society. It will support them, he said.
BHIM is a biometric payment system app using Aadhar platform, and is
based on Unified Payment Interface (UPI) to facilitate e-payments
directly through bank. It was launched to stress on the importance of
technology and digital transactions. It can be used on all mobile
devices, be it a smartphone or a feature phone with or without internet
connection, he added.
payments through the new system (BHIM App) can be made by just a thumb
impression after the bank account is linked with Aadhaar gateway.
Indeed, the technology through BHIM will empower poorest of the poor,
small business and the marginalised section.
Recalling that India, once described as golden bird (Sone ki Chidiya),
became poor due to certain mistakes, Our PM’s visions to regain the
Country’s potential and its past glory once again. The Prime Minister
also appealed to the people to undertake at least five transactions
daily through mobile phones and let the country lead the digital
new app is expected to minimise the role of plastic cards and point of
sale machines. The app will eliminate fee payments for service providers
like MasterCard and Visa, which has been a stumbling block in people
switching to digital payments.
app can be used to send and receive money through smartphones. Money can
also be sent to non UPI supported banks. Bank balance can also be
checked through the app. Currently Hindi and English are supported in
the app, with more languages coming soon. Indicating that the e-wallet
app will feature fingerprint verification in future, "Only thumb will be
needed to make a payment. Thumb will be your bank now". People should
utilize the app and support this to curb black money and to create
financial equality, he appealed.