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30 Dec 2016

Happy New (digital) Year: Modi launches Aadhaar-based BHIM app

TT, New Delhi, Dec. 30 (Agencies): Prime Minister Narendra Modi said Friday a biometric payment-system based on the Aadhaar platform would be in place in two weeks, and urged citizens to adopt digital currency from the new year.
Payments through the new system can be made by just a thumb impression after the bank account is linked with the gateway of the Aadhaar unique identity system, Modi said at a DigiDhan Mela, an event organised to celebrate the success of digital currency push.
The app, available in the Android store, has been named BHIM, after the main architect of the Indian Constitution, Bhim Rao Ambedkar. BHIM is also an acronym for Bharat Interface for Money.
Modi used wit and humour to take swipes at his political opponents for criticising demonetisation, saying the drive was aimed at catching the “mice” that eats away the nation's wealth.
Though he did not name anyone, his comments were directed towards Opposition parties, which have been criticising the demonetisation move for falling flat on its biggest promise, of unearthing huge stashes of black money.
BHIM has been developed by National Payment Corp or India, and is interoperable with all applications in the Unified Payment Interface.
BHIM requires a smartphone, internet access and an Indian bank account that supports UPI payments, and a moble number linked to the bank account.

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