BHIM App Launched by PM Modi: Here’s Everything That You Need To Know

By December 31st, 2016 AT 6:30 AM

To make the route to demonisation easier, Prime Minister Narendra Modi launched the app called BHIM, which stands for “Bharat Interface for Money”. The app is based on UPI (United Payments Interface) and aims at easing out everyday digital transactions directly from bank accounts. The app is connected to your bank account.

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The BHIM app enables everyone with a bank account to pay or receive money via online banking. Unlike digital wallet, this app does not ask the user to transfer the money to the wallet first. At the launch, Modi said,”Be it a smartphone or feature phone of Rs 1,000-1,200, BHIM app can be used. There is no need to have Internet connectivity. One only needs a thumb. There was a time when an illiterate was called ‘angutha chhap’. Now, time has changed. Your thumb is your bank now. It has become your identity now.”

How to download BHIM app?

The app is available on Android, click here for downloading the app. It will soon be made available on iOS too. For the feature phone users, you can access the app without the internet by dialling *99#.

How to use the BHIM app?

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After successfully installing the app on your Android phone, open the app and register your bank details and also select a UPI PIN for security. The app uses your mobile number as the payment address, which automatically enables the user for transactions on the app. On BHIM app, the user can send money to a phone number, bank account, check account balance, or also pay by scanning a QR code (similar to PayTM). All these transactions do not even require the user to share his/her phone number. One can also create Custom Payment Address in addition to their phone number.

Also, users can send money to non-UPI banks by entering IFSC codes, similar to the internet banking.

What is the transaction limit on the BHIM app?

A user can transfer up to Rs. 10,000 per transaction and up to Rs. 20,000 in a day.

Names of the banks listed under BHIM app?

The app supports all the major banks in India. If your bank supports UPI, then it will be eligible for transactions on BHIM app. Here are the Banks that are backed by the BHIM app:

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Allahabad Bank
Andhra Bank
Axis Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Catholic Syrian Bank
Central Bank of India
DCB Bank
Dena Bank
Federal Bank
HDFC Bank
ICICI Bank
IDBI Bank
IDFC Bank
Indian Bank
Indian Overseas Bank
IndusInd Bank
Karnataka Bank
Karur Vysya Bank
Kotak Mahindra Bank
Oriental Bank of Commerce
Punjab National Bank
RBL Bank
South Indian Bank
Standard Chartered Bank
State Bank of India
Syndicate Bank
Union Bank of India
United Bank of India
Vijaya Bank

The Prime Minister also said that biometric payment system based Aadhar Payment app will also go live within two weeks. Given the speedy launch of government-backed digital payments apps, it would be interesting to see how successfully the rural population adapts these methods.

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