• The new indigenously developed payment app ‘BHIM’  (Bharat Interface for Money)    has been named after the main architect of Indian constitution,    Bhim Rao Ambedkar.
• Through this app, Bharat Ratna Bhim Rao Ambedkar’s  name will take the  centre-stage in India’s economy. The day is not far, when people will conduct their business through this app. 
• This app will create financial equality in the Country, as envisaged by Dr. B.R. Ambedkar.

About BHIM:

• BHIM is a biometric payment system app using Aadhar platform, and is based on Unified Payment Interface (UPI) to facilitate e-payments directly through bank.
• It was launched to stress on the importance of technology and digital transactions.
• It can be used on all mobile devices, be it a smartphone or a feature phone with or without internet connection, he added.  
• The payments through the new system (BHIM App) can be made by just a thumb impression after the bank account is linked with Aadhaar gateway. Indeed, the technology through BHIM will empower poorest of the poor, small business and the marginalised section.
• The new app is expected to minimise the role of plastic cards and point of sale machines.
• The app will eliminate fee payments for service providers like MasterCard and Visa, which has been a stumbling block in people switching to digital payments.
• The app can be used to send and receive money through smartphones.
• Money can also be sent to non UPI supported banks. Bank balance can also be checked through the app.
• Currently Hindi and English are supported in the app, with more languages coming soon. Indicating that the e-wallet app will feature fingerprint verification in future, “Only thumb will be needed to make a payment. Thumb will be your bank now”.  People should utilize the app and support this to curb black money and to create  financial equality