Govt to Launch Promotional Schemes for BHIM App

In a period of one month, the government will be launching two new promotional schemes called the Referral Bonus Scheme for individuals and Cash-Back Scheme for merchants, all to promote and spread the word about the BHIM app.

The Bharat Interface for Money (BHIM) app is an application developed by the National Payments Corporation of India (NPCI). BHIM is a common, single point platform for all UPI based services that are offered by banks. Unified Payment Interface is a system that enables money transfer between any two banks/ bank accounts using a smartphone.

BHIM is available on both, iOS and Android platforms. The BHIM app is based on the Immediate Payment Service (IMPS). BHIM was named after Dr. Bhim Rao Ambedkar, who dedicated his life working for the upliftment and well being of the poor and the Dalits.

Amitabh Kant, the CEO of Niti Aayog said in a press meet that the inter- ministerial discussions have been completed and the cashback schemes that were announced in the budget 2022-18, will flow through in a month’s time.

Mr. Kant also said that so far there have been 17 million downloads of the BHIM app.

Mr. Arun Jaitley, the Finance Minister of India, said in his Budget 2022-2022 speech that there has been an increase in digital transactions. The BHIM app will increase the power and use of mobile phones in terms of digital transactions, payments and financial inclusion.

With an aim to fight corruption and proliferation, Prime Minister Narendra Modi, on Sunday, in his monthly radio broadcast, ‘Mann Ki Baat’,  urged citizens to make use of the new BHIM app for transactions and also encouraged each citizen to teach at least 125 more citizens how to operate the BHIM app for digital payments and transactions.