Bank with thumb using BHIM app: Modi

Prime Minister Narendra Modi on Friday launched an ewallet app BHIM named after Dr BR Ambedkar to make online transactions easier saying it was the best newyear gift to people

Updated At : 07:30 AM Dec 31, 2016 IST

Prime Minister Narendra Modi on Friday launched an e-wallet app, BHIM (named after Dr BR Ambedkar), to make online transactions easier, saying it was the best new-year gift to people.
The Aadhaar-based mobile payment application will allow people to make digital payments directly from their bank accounts. The PM said digital transactions would be rewarded with cash prizes. The app can be downloaded from Android app store.
“The app can be used on all smartphones and feature phones costing Rs 1,000-Rs 1,200. There is no need to have Internet connectivity. One only needs a thumb. Your thumb is your bank now,” he said.
Modi, speaking at an event of Digi Dhan Mela at Talkatora Stadium in New Delhi, said during the previous Congress rule, money lost in scams made news but now the nation was talking about money coming back into the system.
He said boosting digital connectivity would “do wonders for the nation”, adding that the day was not far when the cash-based transaction would turn completely digital.
“The day is not far when the poor farmers and small traders will get loans in just five minutes,” Modi said.
The PM asked people to do at least five digital transactions from January 1. TNS