Question: Recently a mobile payment app BHIM (Bharat Interface for Money) was launched by-
(a) Arun Jaitley
(b) Arvind Panagariya
(c) Narendra Modi
(d) Rajnath Singh
Ans:(c)
Related facts:
- On 30 December 2016; At a Digi Dhan programme in New Delhi, Prime Minister Narendra Modi launched mobile payment app BHIM (Bharat Interface for Money).
- The application is developed by the National Payment Corporation of India (NPCI).
- The indigenously developed mobile application — BHIM — has been named after Dr Bhimrao Ambedkar.
The app verifies the phone number automatically. - Note that the phone number used for the transactions has to be the same phone number registered with the bank for the account you intend to use.
- As of now, transactions are supported for only one account per user.
- The bank account menu allows users to change the bank account at any time.
- There are three ways to transfer money, through a QR code, through a phone number, or through the UPI address.
- A QR code is available by default in the profile section.
- This can be saved to the phone as an image, or directly shared through instant messengers or email.
- A phone number based UPI address is generated automatically, but users have the option of creating and saving additional UPI addresses.
- Security is through a UPI pin that has to be set up on start, and can be changed later on.
- Every time the app is launched, the pin is demanded, but not on screen unlock. IFSC and MMID transactions are supported for banks without UPI.
Reference:
http://www.pmindia.gov.in/en/news_updates/pms-speech-at-digidhan-mela-in-new-delhis-talkatora-stadium/?comment=disable
http://www.thehindu.com/news/national/Modi-launches-mobile-payment-app/article16964375.ece1