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On Ambedkar Jayanti, PM Modi launches Bhim-Aadhaar biometric interface to push digital payments

India TV Politics Desk Nagpur 14 Apr 2017, 15:33:54 IST
India TV Politics Desk

On the occasion of Ambedkar Jayanti, Prime Minister Narendra Modi today launched BHIM-Adhar biometric interface to push the digital payments. 

The platform allows one to make digital payments without having a mobile phone, Internet connection, debit or credit card. The new interface was launched in Nagpur to mark the 126th birth anniversary celebrations of Bhim Rao Ambedkar. 

Speaking on the occasion, the PM also announced a reward of Rs 10 for every time a user of the Bhim app successfully refers the app to someone else.

"If you add a person to the BHIM app, after 3 transactions by the person, Rs 10 will be added to your account. The scheme will continue till October 14," he said.

"There was a time when using your thumbprint was seen as a sign of illiteracy. Today, technology has made the thumbs a source of power. People use their thumbs on phones ... which is great for cashless economy," he added.

According to NITI Aayog, the BHIM-Adhaar merchant interface will pave the way for making digital payments on the Aadhaar platform using biometric data like thumb imprint on a merchant's biometric enabled device.

"Any citizen without access to smart phones, Internet, debit or credit cards will be able to transact digitally through the BHIM-Aadhaar platform, thus realizing Ambedkar's vision of social and financial empowerment for all," it said in a statement, adding that 27 major banks were already on board with around three lakh merchants.

The Prime Minister further said that he looks forward to the day when people walk around with absolutely no money in their pockets.

"If the cashless economy is a chariot, the BHIM app is the charioteer. It's unstoppable," the PM said. 

"I see five policemen guarding one ATM and I'm astonished. If we dealt without so much cash, your mobile phone will become your ATM. A day isn't far away when banks have no premises or paper," he added.