Android Century
  • Home
  • Android Zone
    • Android Apps
    • Android Games
    • Apps APk Files
    • Games Apk Files
    • Apps Hack Tricks
  • Reviews
  • Fantasy Zone
    • Entertainment
    • Quotes and Status
    • Life Style
    • Home Made Tips
    • Hair Care
    • Skin Care
    • Fantasy Tips
  • Tricks
    • Free Recharge
    • Free Internet
    • shopping Cashback
    • Recharge Cashback
  • Tech
  • Mobiles
  • Gadgets
  • News
  • How To's
  • Software
Breaking
Loading...

Featured post

How to Take Great Photos With Apple's iPhone X

Recent Posts

Labels

  • Android Apk Files
  • Android Apps
  • Android Games
  • Apps Apk Files
  • Entertainment
  • Fantasy Tips
  • Gadgets
  • Hair Care
  • HomeMade Tips
  • How To's
  • News
  • Quotes
  • Quotes & Status
  • Recharge Cashback
  • Recharge Promo Codes
  • Shopping Cashback
  • Technology
  • skin care
Home / News / Now Major Indian banks yet to enable Aadhaar payments on BHIM app

Now Major Indian banks yet to enable Aadhaar payments on BHIM app

Latest Govt. Jobs 21:24:00 News Edit
Major Indian banks yet to enable Aadhaar payments on BHIM appEven as the government is working on a war footing to launch the much touted Aadhaar Pay -the biometric-based payment system announced by Prime Minister Narendra Modi in December -the country's top banks are dragging their feet on its precursor which is the Aadhaar payment option in the BHIM app.

The feature, which enables payment to an Aadhaar number linked to a bank account, was made live on the BHIM app about a month ago.However, only 14 banks -relatively small in size -have enabled the feature so far. Almost all the large banks such as the State Bank of India (SBI), HDFC Bank or Punjab National Bank (PNB) are yet to come on board.

The delay has miffed some in the establishment who feel that since almost 112 crore people have Aadhaar and 40 crore bank accounts are already linked to the unique identity number, the payment option can provide a big boost to digital drive.

Industry insiders say delay could be because, due to the government digital drive banks are being asked to activate so many features simultaneously , such as the recently launched BharatQR code, and Aadhaar-enabled payments, leading to a lot of burden on them. People on the other side, however, said that banks are not in favour of these new transaction methods since it may cannibalise on their debit card or credit card usage which gets them a per-transaction fee.

“When 14 small banks can go live in a month's time, why can't the big banks do it," a government official said, adding that even before BHIM, when banks had to launch their individual UPI apps, the feature was not enabled by them.

Major Indian banks yet to enable Aadhaar payments on BHIM app

When asked, spokespersons of SBI and HDFC Bank told ET that the integration work is in progress and the feature will go live “soon", without specifying any timeline.The official said that the unavailability of big banks was really scuttling the drive since a major chunk -90-95% -of the Aadhaar-linked bank accounts are with the large banks. “Unless the SBIs, PNBs or the Bank of Barodas of the world don't enable the feature, how will the transactions happen?"

While 17 million people have downloaded the BHIM app so far, Rs.361 crore worth of transactions have happened through it. The value of transactions has also increased from Rs.21.3 lakh per day on December 30 to Rs.25.73 crore on February 13. The official added that transactions through the Aadhaar feature on BHIM are “minimal" so far. “Out of the 40-crore linked accounts, 39 crore are with the big banks, if they are not on board, where will the transactions come from?" said the person.

Announcing the Union Budget, finance minister Arun Jaitley had set a target of achieving 2,500-crore digital transactions in 2017-18.

Fearing transaction failures, the government is also resisting from launching a media campaign to educate people about the feature till a majority of the large bank come on board.

“Suppose we go all out with feature and people try to send money to a bank, which has not enabled it, then they will say BHIM is not working. We don't want that to happen," added the official. Only one large bank, ICICI, has enabled the feature so far, and the integration has also happened only this week.
Share on Facebook Share on Twitter Share on Google Plus

RELATED POSTS


Vodafone partners with Tecno to off...

LG G7 with iPhone X-like notch

Oppo F7 India launch confirmed
Now Major Indian banks yet to enable Aadhaar payments on BHIM app Now Major Indian banks yet to enable Aadhaar payments on BHIM app Reviewed by Latest Govt. Jobs on 21:24:00 Rating: 5

0 comments:

Post a Comment

Newer Post Older Post Home
Subscribe to: Post Comments ( Atom )

Search This Blog

TEST BOOK FOR GOVT ENTRANCE TEST

TEST BOOK FOR GOVT ENTRANCE TEST
Find All Latest book for preparation of SSC,RAILWAYBANK PO,RBI,BANK CLERK,GATE ME,GATE CE are available here in less prices, to check out the books click here

Translate

  • Popular Post
  • Random posts
  • Category

Popular Posts

  • Teen Patti Offer 2018: Refer and Earn Flipkart Vouchers Free
    Teen Patti Offer 2018: Refer and Earn Flipkart Vouchers Free
    Teen Patti Refer & Earn Offer:  Hey Guys! Today I make an article about Teen Patti Referral ...
  • Hands-on with the home windows 10 Creators update for the Xbox One: Beam recreation streaming arrives
    The Windows 10 Creators Update is here, now—yes,  now —but not (officially) on the PC. The ...
  • Taotronics TT-BH22 Headphones Review
    We make it a addiction to now not look up pricing of a product sooner than reviewing and if ...
  • Pentagon strongly condemns North Korea missile test
    The Pentagon on Monday strongly condemned North Korea’s latest missile test, adding that the ...
  • Reliance Jio to offer sharp tariff discounts for customers signing up by March-end
    Reliance Industries' Jio unit will charge a tariff for its services from April, but will offer ...
  • Bank wallets growing faster than e-wallets
    In the  bank  versus  e-wallets  sweepstakes,  lenders  have now gained lost ground. As of ...

Random Posts

  • Samsung Gear S2 18K Rose Gold, Platinum edition Unveiled in India [GoAndroidAuthority.Com]
    Samsung Gear S2 18K Rose Gold, Platinum edition Unveiled in India [GoAndroidAuthority.Com]
    28.03.2016 - 0 Comments
    Samsung unveiled its Two new variants of Gear S2 classic in India, one is plated with 18K Rose…
  • 9 Nintendo Switch tips and tricks for getting the most out of your console
    9 Nintendo Switch tips and tricks for getting the most out of your console
    11.03.2017 - 0 Comments
    Nintendo''s new console, the Nintendo Switch ,  is here, and like any other piece of…
  • Zapya WebShare – File Transfer
    Zapya WebShare – File Transfer
    17.02.2016 - 0 Comments
    Zapya, the world’s fastest file sharing tool, has been well received on multiple platforms since its launch.…
  • Samsung Galaxy S9 to Nokia 9 and Moto X5, and other top mobiles expected
    Samsung Galaxy S9 to Nokia 9 and Moto X5, and other top mobiles expected
    21.01.2018 - 0 Comments
    Samsung Galaxy S9, Galaxy S9+, Nokia 9, Moto X and more: Here’s what to expect at the Mobile World Congress…
  • 10 Android Tips and Tricks
    10 Android Tips and Tricks
    21.02.2016 - 0 Comments
    Many android users don’t know much about the hidden features of android phones. Today we are sharing an…

Labels

Android Apk Files Android Apps Android Games Apps Apk Files Apps Hack Tricks Entertainment Free Internet Freecharge Gadgets Games Apk Files How To's Laptops Guide Mobiles Reviews Technology Viral's android zone free recharge

Entertainment

Tricks

Popular Posts

  • Teen Patti Offer 2018: Refer and Earn Flipkart Vouchers Free
    Teen Patti Offer 2018: Refer and Earn Flipkart Vouchers Free
    Teen Patti Refer & ...
  • Hands-on with the home windows 10 Creators update for the Xbox One: Beam recreation streaming arrives
    The Windows ...
  • Facebook co-founder learned programming language in 2 days www.goandroidapps.in
    Facebook co-founder learned programming language in 2 days www.goandroidapps.in
    Facebook co-founder ...
  • Meet Bat Bot, the new flying batlike drone
    Holy drone ...
  • Xiaomi Mi LED Smart TV 4 Review
    As a brand in ...
  • Thanks to Bitcoin, Buying a PC Is Better Than Building One (for Now)
    High-end ...
  • Lenovo Yoga Book launched in India at Rs 49,990: First Impressions
    Lenovo  has ...

Random Posts

  • Hair Care Tips for Men
    Hair Care Tips for Men
    15.02.2016 - 0 Comments
    I've always found ads for products promoting "healthy hair" to be a bit funny. There's no such thing…
  • TOP Best free iPhone apps of 2017 (itunes)
    TOP Best free iPhone apps of 2017 (itunes)
    20.02.2017 - 0 Comments
    There are now hundreds of thousands of apps available for your iPhone…
  • How To Transfer Data From iPhone To Android
    How To Transfer Data From iPhone To Android
    12.01.2017 - 0 Comments
    Are you planning to switch your smartphone? If you are planning to have a new Android phone then you…
  • Pebble Time Steel vs. Pebble Steel: The Pebble Brand is DEAD...
    Pebble Time Steel vs. Pebble Steel: The Pebble Brand is DEAD...
    12.02.2017 - 0 Comments
    The Pebble or the Pebble Time? That is the question. Mike takes a look at both to see which is…
  • Rewardme – Get FreRewardme – Get Free Samples Of Shampoo And Creams From Rewardmee Samples Of Shampoo And Creams From Rewardme
    Rewardme – Get FreRewardme – Get Free Samples Of Shampoo And Creams From Rewardmee Samples Of Shampoo And Creams From Rewardme
    09.04.2016 - 0 Comments
    Rewardme Offer – Get free samples of Shampoo and creams from Rewardme. This is an freebie loot offer. Offer…

Most Popular

  • Teen Patti Offer 2018: Refer and Earn Flipkart Vouchers Free
    Teen Patti Offer 2018: Refer and Earn Flipkart Vouchers Free
    Teen Patti Refer & ...
  • SAMSUNG GALAXY J7 (2016) REVIEWS
    SAMSUNG GALAXY J7 (2016) REVIEWS
    SAMSUNG GALAXY J ...
  • Top 5 Best SmartPhones under 7000 Rs (March 2017)
    Looking for the ...
  • Apple, IBM, Cisco are huge because of Indians, do not deny them H-1B visa: RBI Governor Urjit Patel
    ...
  • SAMSUNG GALAXY J7 (2016) Specifications
    SAMSUNG GALAXY J ...
  • BlackBerry Teases Marshmallow Beta Testing for Priv by Next Week
    Blackberry ...
  • LG Q6 Review
    LG Q6 Review
    2017 is ...

Contact Form

Name

Email *

Message *

Offers Zone

Created By Android Century Distributed by Android Century
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms of use
  • Advertise here
Subscribe Via Email Subscribe To Android Century By Email And Get Free Updates. ;-)


Your email address is safe with us!