Govt to give cashback for using BHIM app; Jaitley says

Jaitely said, "The government will launch two new schemes to promote usage of BHIM app and these are Referral Bonus Scheme for individuals and a Cashback Scheme for merchants."

Govt to give cashback for using BHIM app; Jaitley says
Cabinet said, so far 125 lakh people have adopted the BHIM app. Photo: Official Website
Written By: ZeeBiz WebTeam
Updated: Wed, Feb 01, 2017
03:20 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
'India-made' mobile phones to become expensive by 1-2% 'India-made' mobile phones to become expensive by 1-2%
Budget 2017 disappoints on income tax slabs rebate, experts say Budget 2017 disappoints on income tax slabs rebate, experts say
Budget 2017: Companies can now carry their tax credit under MAT, AMT for 15 years Budget 2017: Companies can now carry their tax credit under MAT, AMT for 15 years
Union Budget 2017: FM Jaitley gives relief to NPS subscribers Union Budget 2017: FM Jaitley gives relief to NPS subscribers

Giving a push to digitalisation, FM Arun Jaitely in his Union Budget 2017-18, said that two new schemes will be introduced for enhancing the usage of Bharat Interface for Money (BHIM) app. 

Jaitely said, "The government will launch two new schemes to promote usage of BHIM app and these are Referral Bonus Scheme for individuals and a Cashback Scheme for merchants."

Cabinet said, so far 125 lakh people have adopted the BHIM app. 

BHIM app was launched on December 30, 2016, in a move to strengthen Modi's digital payment push. It is  currently available on Google's Play Store. 

The app is based on the Unified Payments Interface (UPI) from the National Payments Corporation of India (NPCI) - which is the umbrella organisation for all retail payments systems in India.

The app is also supposed to support Aadhaar-based payments, where transactions will be possible with just a fingerprint impression, but that facility is yet to start. 

Cabinet said, Aadhar Pay, a merchant version of Aadhar Enabled Payment System, will be launched shortly. 
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.