Pathbreaking : Forget mobiles, cards and internet, entire bank will be in your thumb after 2 weeks

In a major step towards making India a cashless economy, Prime Minister Narendra Modi today launched the digital payment app Bharat Interface for Money (BHIM) which will facilitate electronic transaction even without internet and high-end smart phones. After 2 weeks, all that will be needed for electronic transaction will just be biometric thumb impression, linked via Aadhar.

Be it a smartphone or feature phone worth Rs 1000-1200, BHIM app can be used. There is no need to have internet connectivity. In two weeks, payment through use of biometric fingerprint will begin in India. One only needs a thumb. Once the work on security features have been worked out, you will only require your thumb to pay. In the past, illiterate people were called ‘angutha-chaap’ but now your thumb is your bank. It has become your identity now,” PM Modi said at the DigiDhan Mela in Delhi.

Prime Minister Narendra Modi today launched UPI based mobile payment application called BHIM (Bharat Interface for Money), which is a rebranded version of UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data), at the Digi Dhan Mela event in Talkatora stadium in New Delhi. The BHIM app can be downloaded from Android app store. PM Modi said that the work to link all the bank accounts in the country with Aadhar is almost on the verge of completion. He also added that almost every adult in India has his or her Aadhar card. He told that a few children below the age of 14 years do not yet have their aadhar cards and the government is working hard to register every single citizen under Aadhar. He expressed confidence that very soon, every single citizen of India will have an Aadhar card.

He listed out the benefits of cashless economy in combating black money, corruption, terrorism and illegal activities. “Boosting digital connectivity will do wonders for our nation. The day is not far off when the cash-based transaction will turn completely digital.” The Prime Minister also thanked the media for highlight issues related with digital payments.

Kshitij Mohan