PM Narendra Modi on 30
th Dec launched UPI (United Payments Interface) based app called BHIM, short for Bharat Interface for Money.
The BHIM app is a straightforward UPI app, which would allow anyone to make simple digital payments directly from their bank account, and it is now available for download.
The UPI-based BHIM app allows anyone to pay or receive money through online banking, unlike a wallet where you have to first load the money before you can use it.
Be it a smartphone or feature phone of Rs 1,000-1,200, BHIM app can be used. There is no need to have Internet connectivity.
With the BHIM app, anyone can send or request money through the app to make a digital payment.
The app is linked to your bank account, so you don't have to load money in it unlike a wallet, and a merchant does not have to worry about transferring the money back to their bank account.
It can be downloaded by the National Payments Corporation of India (NPCI) on Google Play to start using the free Android app.
BHIM app is presently now available on Android and will come to iPhone 'soon'.
All the major banks are supported by the BHIM app - as long as the bank supports UPI, you will be able to access your money through the BHIM app.
The list of banks supported by the BHIM app is
as follows:Banks Accepting BHIM1. Bank of India
2. Vijaya Bank
3. United Bank of India
4. Union Bank of India
5. Syndicate Bank
6. State Bank of India
7. Standard Chartered Bank
8. South Indian Bank
9. Bank of Maharashtra
10. RBL Bank
11. Punjab National Bank
12. Oriental Bank of Commerce
13. Kotak Mahindra Bank
14. Canara Bank
15. Karur Vysya Bank
16. Karnataka Bank
17. IndusInd Bank
18. Indian Overseas Bank
19. Indian Bank
20. IDFC Bank
21. IDBI Bank
22. ICICI Bank
23. HDFC Bank
24. Catholic Syrian Bank
25. Federal Bank
26. Dena Bank
27. DCB Bank
28. Central Bank of India
29. Bank of Baroda
30. Axis Bank
31. Andhra Bank
32. Allahabad Bank
Know More About BHIM- There is a maximum of INR. 10,000 per transaction permitted, and INR. 20,000 within 24 hours.
- The BHIM app comes with basic features such as the ability to send or receive money, linking of accounts, saving profile of the user, changing the language, recording beneficiary details and providing balance enquiry.
- Banks that currently have individual UPI apps can either endorse the common BHIM app or only allow their customers to use the in-house app which may be loaded with more features.
