“BHIM” mobile app has been launched by Union Government to make digital payments easier. What does “BHIM” stands for?
[A]Build Interface for Money
[B]Built-up Interface for Money
[C]Bi-aural Interface for Money
[D]Bharat Interface for Money
Bharat Interface for Money
Prime Minister Narendra Modi has recently launched an Aadhaar-based mobile app “Bharat Interface for Money (BHIM)” to promote easier digital payments and transactions at Digi Dhan Mela at talkatora stadium in New Delhi. The Bhim app is named after Dr B R Ambedkar and will empower small traders, tribals and farmers. The app is inter-operable with Unified Payments Interface (UPI) and it connects directly to your bank account. The application is developed by the National Payment Corporation of India (NPCI). The application allows users to check the bank balance directly from the app. There is a limit of Rs 10,000 per transaction and a 24-hour limit of Rs 20,000.