Modi launches cashless payment mode BHIM Aadhaar, other projects in Nagpur

Nagpur, April 14, 2016

Govt. committed to address issue of poverty: Modi
Prime Minister Narendra Modi today launched BHIM Aadhaar, a cashless payment mode based on biometric identification of a person's thumbprint, and launched several development projects and schemes during a visit to Nagpur on the occasion of the birth anniversary of Dr. Bhimrao Ambedkar, the architect of the Indian Constitution.
Mr. Modi offered floral tributes to Dr. B. R. Ambedkar at Deekshabhoomi, a holy spot closely associated with him, and also released a commemorative postage stamp on it.
He visited Koradi Thermal Power Station, where he unveiled a plaque to mark its inauguration. He also visited the Operations Control Room of the power station.
At the Mankapur Indoor Sports Complex, he unveiled digital plaques to mark the laying of foundation stones for the Indian Institute of Information Technology (IIIT), the Indian Institute of Management (IIM) and the All India Institute of Medical Sciences (AIIMS) at Nagpur.
Speaking at the launch of BHIM Aadhaar, Mr. Modi said Dr. Ambedkar did not have even a trace of bitterness or revenge in him and this was his speciality.
In the context of the Koradi Power Station, he said that the energy sector is of great importance in the 21st century. He said the Government is devoting significant effort to the renewable energy sector.
Recalling the sacrifices made by people so that India could attain freedom, the Prime Minister asserted that all Indians must have their own house, equipped with electricity, water and other basic facilities.
Mr. Modi said the BHIM App is positively impacting several lives across the nation. He said that the Digi-dhan movement is also a cleansing mission to fight the menace of corruption.
Mr. Modi also launched cash back and referral bonus schemes for BHIM and declared that 75 townships across the country had gone less-cash. He also felicitated the winners of the draw for two incentive schemes to promote digital payments  -- Lucky Grahak Yojana and Digidhan Vyapaar Yojana.
He said BHIM-Aadhaar, the merchant interface of the BHIM App, will pave the way for making digital payments by using the Aadhaar platform. Any Indian citizen can pay digitally using their biometric data like their thumb imprint on a merchant's biometric enabled device which could be a smart phone having a biometric reader. Any citizen without access to smart phones, internet, debit or credit cards will be able to transact digitally through the BHIM Aadhaar platform. Already, 27 major banks are now on board with 7.15 lakh merchants so that they can start accepting payments using BHIM Aadhaar. 
The incentive schemes -- cash back and referral bonus -- have an outlay of Rs. 495 crore for a period of six months. They are aimed at popularising the culture of digital payments at the grassroot level. Under the referral bonus scheme, both the existing user who refers BHIM and the new user who adopts BHIM would get a cash bonus credited directly to their account. Under the cashback scheme, merchants will get a cash back on every transaction using BHIM.
Both schemes are to be administered by the Ministry of Electronics and Information Technology (MEITY) and implemented by the National Payments Corporation of India (NPCI).
The initial two incentives schemes, Lucky GrahakYojana and DigiDhanVyaparYojana, came to an end after 100-day information, education and communication campaign led by NITI Aayog to make digital payments a mass movement in India. Under the scheme Rs. 258 crore of prize money was won by 16 lakh winners, including customers and merchants.
Twenty-year-old Shradha Mohan Mengshette, a second year student of Electrical Engineering from Latur district in Maharashtra, emerged as the winner of Rs. 1 crore mega draw for consumers. She won the reward for making a transaction of Rs. 1590 through her Rupay card online, to pay the monthly EMI for her new mobile phone. The second prize of Rs. 50 lakh, under the Lucky Grahak Yojana for consumers, was won by Hardik Kumar from Khambhat in Gujarat. The 29-year-old is a primary school teacher who used hisRupay card for making a transaction of Rs. 1100. Another RuPay card transaction, of just Rs.100, won Bharat Singh from the Sherpur village in Uttarakhand an amount of Rs. 25 lakh.
The 1st prize of Rs. 50 lakh, under the Digi-Dhan Vyapar Yojana category for merchants, was won by Anand Ananthapadmanabhan for accepting a payment of Rs. 300 at GRT Jewellers in Tambaram, Tamil Nadu. The 2nd prize of Rs. 25 lakh was won by Ragini Rajendra Uttekar, owner of a small beauty parlour in Thane, Maharashtra. She accepted a payment of Rs. 510 which won her this amount. The 3rd prize of Rs. 12 lakh was won by 33- year-old Shaik Rafi who runs a wholesale clothing store in Ameerpet, Telangana. He accepted a payment of Rs. 2000 on his PoS machine.
An official press release said the BHIM App has created a world record by registering 1.9 crore downloads in just four months since its launch in December, 2016. Until November 2016, the volume of all digital transactions was 2,80,000 which amounted to Rs.101 crore in value terms. In just four months, by March this year, volume of payments using various digital payment modes saw an increase of about 23 times amounting to 63,80,000 digital transactions for a value of  Rs. 2425 crore, it said.
Aadhaar Enabled Payments have increased from 2.5 crore in November 2016 to over 5 crore in March 2017. Immediate Payment Service (IMPS) transactions have also increased from 3.6 crore to 6.7 crore during the same period, the release said.
No stories found.