PM Narendra Modi asks all ministries, states to boost BHIM app use

Prime Minister Narendra Modi has asked all central ministries and departments as well as states and union territories to set targets for digital transactions through the state-run BHIM (Bharat Interface for Money) mobile application and aim to achieve them by August 15.

This comes in the wake of the fall in share of BHIM among payment platforms based on the United Payment Interface (UPI) to 6.3% transactions in April from 9.5% in 2017-18, according to data on the website of the National Payments Corporation of India (NPCI). BHIM app has seen an increase in transactions since its launch by the PM on December 30, 2016 but has been losing out of late to other popular UPI platforms such as Google Tez, PhonePe and Paytm.

Increase in digital transactions through platforms such as BHIM app could figure in the PM’s Independence Day address on August 15, said people aware of the matter.

Such charges on small transactions through BHIM app have already been waived by the government.

In the meeting, the PM especially asked the ministries of railways, and food and public distribution, which handle large volumes of payments, to make efforts to boost usage of BHIM app.

In April, there were 12.6 million transactions worth Rs 4,973 crore on BHIM app, while in the previous financial year it recorded 87.91 million transactions worth Rs 30,018 crore. The falling share of BHIM app had prompted the government to launch, on April 14, more attractive cashback schemes for customers and merchants using the platform. These included Rs 51 cashback on successfully completing first financial transaction for BHIM app users and up to Rs 750 cashback in a month through other transactions. A merchant can earn up to Rs 1,000 cashback every month through various transactions. Referrals also yield a cashback.

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