Finance minister Arun Jaitley today said that the Bharat Interface for Money (BHIM) app will unleash the power of mobile phones for digital payments and financial inclusion. As many as 12.5 million people have downloaded the BHIM app so far. To use the BHIM app, you need to have a bank account with a UPI member bank, a registered mobile number, internet access and an Android smartphone. There are no charges for making payments through BHIM app. The UPI-based BHIM app was launched on December 30.

Source: Mint February 01, 2017 09:30 UTC