Banking & Finance

BHIM (Bharat Interface for Money)

About:

  • 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.
  • The payments through BHIM app can be made by just a thumb impression after the bank account is linked with Aadhaar gateway. Money can also be sent to non UPI supported banks.
  • It is developed and managed by National Payments Corporation of India.

Impact:

  • Financial equality: BHIM will bring banking services within the reach of even those who are financially illiterate as it is simple to use and ....

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