BHIM app clocks over 10 million downloads, 2 million transactions
- US stocks flat, investors await Fed decision on policy rates
- Drug price regulator fixes ceiling price of 39 more drug formulations
- Jimmy Kimmel rips Republican health bill for failing ‘Kimmel test’
- Bihar govt orders probe as canal wall awaiting Nitish inauguration collapses
- UK fund sells Bank of Baroda shares worth Rs1,115 crore
New Delhi: Within 10 days of its launch, Bharat Interface for Money (BHIM), a government app, has clocked over 10 million downloads and 2 million transactions, indicating people are becoming more receptive to cashless payments.
BHIM was launched on 30 December by Prime Minister Narendra Modi to promote digital transactions using the Unified Payments Interface (UPI), a bank-to-bank fund transfer system backed by the Internet and smartphones, using phone numbers linked to banks.
The app is one of several measures aimed at promoting digital transactions in the aftermath of the 8 November demonetisation of high-value banknotes, which triggered a cash crunch.
ALSO READ: New version of BHIM app launched
On Monday, Modi tweeted that the app had made transactions faster and easier. He also emphasized the popularity of the app, especially among the young.
“The BHIM app is a fine example of Make in India and how technology is being effectively used to end the menace of corruption and black money”, Modi said in a statement.
ALSO READ: BHIM app: A one-minute guide
The app developed by the National Payments Corp. of India (NPCI) is available for download in the Google PlayStore for Android smartphones. An iOS version is expected to be launched soon.
The app, which is currently available in Hindi and English, is expected to be launched in other regional languages soon. BHIM is now linked to 35 private and public sector banks.