Tech Updates

India’s New UPI App BHIM Launched : 10 Unknown Facts you must Know


With regards to his push to control India towards an advanced economy, Prime Minister Narendra Modi today propelled another E-Wallet Application BHIM, named in the wake of establishing father Dr BR Ambedkar, to make it less demanding to execute on the web. The Aadhaar-based portable installment application will permit individuals to make advanced installments straightforwardly from their financial balances. The PM additionally repeated that advanced exchanges will be compensated with pool like money prizes from the administration.

bhim upi app by Narendra Modi

Bhim UPI App Launched by PM Narendra Modi

  1. The BHIM application is being enhanced so that in time, “just your thumb will be expected to make an installment,” said the PM, including “you will in the long run not be reliant on the web, on cell phones, your thumb will be your bank.”
  2. The 50-day due date to submit invalid 500 and 1,000-rupee notes closes today. The Reserve Bank of India or RBI has solicited banks to submit subtle elements from the stores made in the prohibited money. Almost 90 for each penny of the scratched off notes have been as of now stored in banks, which implies that the administration’s expectation of expelling dark cash may have missed its stamp. PM Modi will address the nation tomorrow night to talk about the effect of his sudden demonetization drive.
  3. In this way, there has been no declaration of whether the money confinements at ATMs and withdrawals from banks that were presented after demonetization will stay set up in the new year.
  4. On November 8, PM Modi’s stun declaration rendered 86 for each penny of India’s money void, giving individuals until today to swap their old 500 rupee and 1,000-rupee bills for new ones.
  5. The PM has been broadly hailed for his ambush on duty avoidance yet long lines outside banks, a money crunch and arrangement flip-flops have prompted to a coordinated assault from the restriction.
  6. The unsafe bet is required to affect the decision in Uttar Pradesh, which is relied upon to be held in February. Many top industrialists and money related specialists have applauded the PM’s call to move towards an advanced economy, yet a few businesses have came to a standstill and laid off staff, highlighting India’s gigantic reliance on money.
  7. As the right around two-month window attracts to a nearby, serpentine lines outside banks have weakened yet a solitary 2,000 rupee note is still all that most ATMs apportion to clients.
  8. Until March 31, old notes can be saved with the Reserve Bank of India however today is the last chance to do as such at different banks. After the March due date there will be a base 10,000 rupees punishment for holding old notes.
  9. Examiners say the money crush will genuinely gouge India’s monetary development in the short term, a forecast tested by Finance Minister Arun Jaitley. Evaluations office Fitch reexamined down its GDP gauge for the final quarter of 2016 to 6.9 for every penny from 7.4 for each penny.
  10. Financial specialists anticipate that the economy will profit in the long haul because of an expansion in expense incomes however just once there is an abundant supply of those tricky new notes available for use. Numerous Indians have said they wouldn’t fret the hours of lining on the off chance that it constrained the rich to pay charges.

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

About the author

Tamal Basak

Tamal Basak is a MCA Student from Malda, West Bengal. He's the Founder, Developer & CEO of Friendly Deals with Several Other Blogs. He loves to Develop Blogs on Technology, Social Issues, Events and He also Enjoys the Challenge of Crafting Beautiful and Intuitive Experiences Out of Seemingly Complex Interactions.

Leave a Comment

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!