Digital payments app Bharat Interface for Money (BHIM)has reached 2 crore downloads and recorded transactions worth Rs 1,500 crore so far, said Union Minister of Electronics and Information Technology Ravi Shankar Prasad.
“The BHIM app has been downloaded by 2 crore people and there has been close to 50 lakh transactions only on the BHIM app worth Rs 1,500 crore,” the minister said, while Responding to a mention made by SP member Jaya Bachchan during the Zero Hour in Rajya Sabha.
BHIM is a Mobile App developed by National Payments Corporation of India (NPCI) and it allows transactions using Unified Payments Interface (UPI).
Highlighting the issue, Member of Parliament (Rajya Sabha) Jaya Bachchan congratulated the government for its initiatives towards promoting digital and cashless payments, said that lack of adequate infrastructure has been hampering digital payments.
She further said that demonetisation wasn’t planned properly and it caused “confusion and hardship” to people in the country.
“There were only 15.1 lakh PoS (Point of Sales) machines in the country, while the requirement was of 20 lakh,” she added.
Quoting a data generated by public lender State Bank of India, Bachchan said”Lack of digital preparedness is already threatening to hit consumption growth.”
For curbing the menace of fake currency and black money, last year Prime Minister Narendra led government rollout demonetisation of high denomination notes(Rs 500/1000).