Ambedkar’s name to take Centre - Stage in India's economy : Ramesh Jigajinagi
The new indigenously developed payment app 'BHIM' (Bharat Interface for Money) has been named after the main architect of Indian constitution, Bhim Rao Ambedkar. Through this app, Bharat Ratna Bhim Rao Ambedkar's name will take the centre-stage in India's economy. The day is not far, when people will conduct their business through this app. This
app will create financial equality in the Country, as envisaged by Dr.
B.R. Ambedkar ’ said Ramesh Jigajinagi , Union Minister of State,
Ministry of Drinking water and sanitation.
Prime Minister Shri Narendra Modi has
been introducing many welfare Schemes for the Developments of Dalits,
backward classes and financially backward class people. Indeed, BHIM
will curb black money system and create equality in the society. It will
support them, he said.
BHIM
is a biometric payment system app using Aadhar platform, and is based
on Unified Payment Interface (UPI) to facilitate e-payments directly
through bank. It was launched to stress on the importance of technology
and digital transactions. It can be used on all mobile devices, be it a
smartphone or a feature phone with or without internet connection, he
added.
The
payments through the new system (BHIM App) can be made by just a thumb
impression after the bank account is linked with Aadhaar gateway. Indeed, the technology through BHIM will empower poorest of the poor, small business and the marginalised section.
Recalling
that India, once described as golden bird (Sone ki Chidiya), became
poor due to certain mistakes, Our PM’s visions to regain the Country’s
potential and its past glory once again. The Prime Minister also
appealed to the people to undertake at least five transactions daily
through mobile phones and let the country lead the digital movement.
The
new app is expected to minimise the role of plastic cards and point of
sale machines. The app will eliminate fee payments for service providers
like MasterCard and Visa, which has been a stumbling block in people
switching to digital payments.
The
app can be used to send and receive money through smartphones. Money
can also be sent to non UPI supported banks. Bank balance can also be
checked through the app. Currently Hindi and English are supported in
the app, with more languages coming soon. Indicating that the e-wallet
app will feature fingerprint verification in future, "Only thumb will be
needed to make a payment. Thumb will be your bank now". People should utilize the app and support this to curb black money and to create financial equality, he appealed.
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(Release ID :156095)
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