Govt launches BHIM 2.0

Union Minister of Electronics and Information Technology (MeiTY) Ravi Shankar Prasad unveiled a slew of new initiatives and programmes, including BHIM 2.0 that packs-in new functionalities, supports additional languages and has increased transaction limits.

He also launched a host of new initiatives including MeitY Startup Hub (MSH) portal, Indian Software Product Registry and selected Incubation Centres under Technology Incubation Development for Entrepreneurs 2.0 (TIDE 2.0).

TIDE 2.0– It is aimed at strengthening nearly 2000 technology based startups in areas of national concern by taking advantage of emerging technologies as well as empowering 51 incubation centers across the country.

About Bharat Interface for Money (BHIM)

BHIM is a UPI based payment interface application that allows real time fund transfer. It is developed by National Payments Corporation of India (NPCI) and was launched in December 2016. It is in line with government’s vision of Digital India.

BHIM 2.0 Features

The upgradation has added a bunch of new functionalities and has made app more feature-rich and effective.

The new version of BHIM also supports three additional languages- Konkani, Haryanvi and Bhojpuri, over and above existing 13.

Other features-

• ‘Donation’ gateway
• Increased transaction limits for high value transactions- increasing the existing cap of Rs. 20,000 and now up to Rs. 1,00,000 from verified merchants.
• Llinking multiple bank accounts
• Offers from merchants
• Option of applying in IPO
• Gifting money

Month: Current Affairs - October, 2019