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Government is launching these two schemes to promote BHIM app

 Image result for Government is launching these two schemes to promote BHIM appThe government will launch within a month two schemes -- the Referral Bonus Scheme for individuals and Cash-back Scheme for merchants -- to promote the indigenous digital payments app BHIM.


"We have completed inter-ministerial discussion. Cashback schemes announced in the Budget 2017-18 would be implemented in one month," Niti Aayog CEO Amitabh Kant said at a press meet.

PM Modi launches e-wallet app BHIM: 10 things to know

PM Modi launches e-wallet app BHIM: 10 things to know
Rebranded version of UPI and USSD
Developed by NPCI
2MB in size
Maximum transaction limit is Rs 20,000 per day
Available for download on Google Play store
Can link only one bank account
How it works
Need to register debit card details
Saves on fee payment to card companies
​ "World's biggest wonder"

PM Modi launches e-wallet app BHIM: 10 things to know

The Government of India's mobile payment app is here. Dubbed BHIM (Bharat Interface for Money), the app was launched by Prime Minister Narendra Modi at the Digi Dhan Mela event in Talkatora stadium in New Delhi earlier today.

BHIM aims to promote digital transactions and tackle the various stumbling blocks, like payment to service providers, in country's way to become a cashless economy.

Here's all you need to know about the app that takes on Paytm, Freecharge and other e-wallet apps.

Rebranded version of UPI and USSD

The app is a rebranded version of UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data). As UPI is built on top of Immediate Payment Service (IMPS), this means transactions that you will do on BHIM app will take only seconds.

Developed by NPCI

The app has been developed by National Payments Corporation of India (NPCI).

2MB in size

BHIM app is about 2MB in size.

Maximum transaction limit is Rs 20,000 per day

As for limits, users can transfer as low as Re 1 and a maximum of Rs 20,000 per day. However, there's a cap of Rs 10,000 for a single transaction.

Available for download on Google Play store

BHIM app is currently only available for Android (version 4.1.1 and above). However, the official website claims that the app will be made available on other mobile platforms (including iOS) soon.

Can link only one bank account

Currently, BHIM supports linking of one bank account only. At the time of account set-up, you can link your preferred bank account as the default account. In case you want to link another bank account, you can go to Main menu, choose bank accounts and select your default account. Any money that is transferred to you using your mobile number or payment address will be credited into your default account.

How it works

Once downloaded, users need to register his/her bank account details and set up a UPI Pin. The user’s mobile number becomes the payment address. Once registered, you are all set to get going. To set UPI PIN, go to Main Menu -Bank Accounts -Set UPI-PIN for the selected account. You will be prompted to enter the last 6 digits of your Debit/ATM card along with the expiry date. You will then receive an OTP which you will enter and set your UPI PIN.

Need to register debit card details

At the time of registration you will be providing us with the debit card details and with the use your mobile number registered to your bank account, we will pre-fetch the details from your bank. Government claims that all the information exchange happens over secure banking networks and no information whatsoever is stored.

Saves on fee payment to card companies

The app helps eliminate the fee payments to service providers like card companies such as Mastercard or Visa, which has been a big stumbling block in adoption of cashless paymemts by merchants.

​ "World's biggest wonder"

PM Modi said that BHIM app will become the world's biggest wonder in times to come. "The day is not far when all transactions will run through the BHIM app," he added.
PM Modi launches e-wallet app BHIM: 10 things to know
Rebranded version of UPI and USSD
Developed by NPCI
2MB in size
Maximum transaction limit is Rs 20,000 per day
Available for download on Google Play store
Can link only one bank account
How it works
Need to register debit card details
Saves on fee payment to card companies
​ "World's biggest wonder"


The Bharat Interface for Money (BHIM) app was launched on the iOS platform earlier this month. It is also available on the more popular Android platform.


"There has been over 17 million downloads of the BHIM app so far," Kant said.
Finance minister Arun Jaitley in his Budget speech for 2017-18 had said, "Already there is evidence of increased digital transactions. The BHIM app has been launched. It will unleash the power of mobile phones for digital payments and financial inclusion."

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