Tuesday 3 January 2017

BHIM : Indian Government's Massive Digital Transaction Push

Question 1 : Recently, the government of India has launched a digital payment application - BHIM to encourage cashless transactions in the country. Which of the following statements is incorrect in the context of BHIM?

Reference : BHIM

a) The BHIM or Bharat Interface for Money is named after a mythological character in an epic - Mahabharata.
b) BHIM is an Unified Payment Interface (UPI)-based digital payment application.
c) Transactions can be fulfilled via IFSC code, MMID (Mobile Money Identifier) code and UPI account.
d) Currently the app is only available for Android users.

Answer

1) a, The BHIM or Bharat Interface for Money is named after Babasaheb Dr. Bhimrao Ambedkar.

Further Reading

Unified Payment Interface

Babasaheb Dr. Bhimrao Ambedkar.

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