Wednesday, February 8, 2017

BHIM app users have spent Rs 361 cr so far

Government Minister of State for Planning Rao Inderjit Singh also said the BHIM (Bharat Interface for Money) app has brought various banks under one umbrella, making it conventient for the users. |  BHIM app users have spent Rs 361 cr so far: Government Transactions worth Rs 361 crore have so far been made using the newly-launched Bhim application for mobile phones, Lok Sabha was informed today. Minister of State for Planning Rao Inderjit Singh also said the BHIM (Bharat Interface for Money) app has brought various banks under one umbrella, making it conventient for the users

Earlier, the consumers had to use different applications offered by various banks for digital transactions. Responding to supplementaries during Question Hour, he said while Scandinavian countries have achieved a rate of 90 percent in digital transactions, in India the figure was three percent. If the figure reaches 22 percent, it will help cut down black money from the economy, Singh said. To a poser on whether security was in place for digital economy, he said though no system is "101 percent fool-proof", India being a software-rich nation, it will be able to plug the flaws on its own.


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