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Mansi Khandelwal

JWB Blogger

Forget Chota Bheem! PM’s App BHIM Will Blow Away All Your Cash Worries

  • JWB Post
  •  January 2, 2017


Modi ji please do not announce anything more!

Isn’t this what everyone wished before 2016 ended? Well, to all the good and bad demonetization did, everybody has been really scared for any further announcements by the Prime Minister.

But ‘Hope is being able to see that there is a light despite all of the darkness.” So when we were desperately praying for the year to peacefully end, Modi ji launched a mobile payment app named BHIM (Bharat Interface for Money) at a Digi Dhan program in New Delhi.

After reading up, it actually reminded me of Chota Bheem! Just like our kiddo’s hero, this app will also help people fight the Black money monster and help overcome the demonetization blues!

Amidst the chaos, this app is launched to encourage cashless payments, quicker, reliable, and 24/7 transactions with the help of just a smartphone, internet access, and an Indian bank account.

Ain’t it nice?

Not just this, there was another announcement PM made. He said that a biometric payment system based on the Aadhaar platform will be launched within two weeks, through which people will just have to use just their thumbprints for transactions.

Here are some of the features you need to know:

  1. The app is named after Dr. Bhim Rao Ambedkar and is currently available on Android (version 8 and above) and iOS mobiles (version 5 and above). It will be available on other phones soon.
  2. It will operate on Unified Payment Interface (UPI) and will help in retail banking operations such as transfer of money, checking balance, etc.

UPI enables users to make payments using mobile phones. Users just have to create a ‘virtual payment address’, which is the phone number to use this.

  1. BHIM app will be easier to use as compared to e-wallets because users can link their mobile numbers to their bank accounts.

This app will save your time because you will not have to fill bank details for every transaction. One can make instant bank-to-bank payments using the mobile number of the beneficiary.

  1. Users will need to set their UPI-PIN after downloading the app.

The set UTI-PIN option is found in the main menu of the app where a user has to enter the last six digits of the debit/ATM card with expiry date followed by the OTP.

  1. In a 24-hour cycle, users can make a maximum transaction not exceeding Rs. 10,000 and there is an upper limit of Rs. 20,000 on transactions.
  2. If the beneficiary bank account is linked to UPI, the transaction can be done simply by entering the mobile number. If not, it can be done using IFSC code or bank account details
  3. While individual banks might charge users a UPI or IMPS transfer fee, the app is free of cost.
  4. Users don’t need mobile banking services for using the app. The only requirement is that their mobile number should be linked to their bank accounts. About 30 banks that are live on UPI have been listed in the app.

Inputs are taken from The Better India.

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