As per a report made to the Lok Sabha by the Indian Government , the UPI based BHIM application has already seen transactions worth over Rs 361 crores. The app was officially launched on the 30th of December in a bid to ease the demonetization process and take India forward towards being a truly cashless economy. While there are quite a few skeptics of the Digital India initiative, it has no doubt led the users to reconsider cash transactions.
Speaking about theBHIM app and its progress, Minister of State for Planning, Rao Inderjit Singh said that India is currently at 3% digital transactions and that the figure needs to touch 22% to weed out black money from the country to some extent. He also mentioned that a handful of Scandinavian nations have already touched the 90% mark by now.
The BHIM app has led to all banks being accessible under one application using secure credentials that are unique for every user. While the iOS version of BHIM is yet to be officially available, the Android version has seen immense popularity in the country. Millions of users have already downloaded the application and the number will only increase once the iOS version is made available by the government.
On a separate note, theNPCI (National Payments Corporation of India) has claimed that all the remaining state run banks will have a presence on BHIM by the end of February. This will make the experience more streamlined for all users.
Speaking about the
The BHIM app has led to all banks being accessible under one application using secure credentials that are unique for every user. While the iOS version of BHIM is yet to be officially available, the Android version has seen immense popularity in the country. Millions of users have already downloaded the application and the number will only increase once the iOS version is made available by the government.
On a separate note, the
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