PM Narendra Modi announces 3 major upgrades in BHIM app: Check them here

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New Delhi : On the occasion of 126th birth anniversary of Bhimrao Ramji Ambedkar, Prime Minister Narendra Modi announced three major upgrades in the path-breaking BHIM application.

Prime Minister Narendra Modi on Friday said that the BHIM-Aadhaar digital payments platform can revolutionise the Indian economy.

Here are the three major announcements:

# BHIM-Aadhaar link

The users will need to link their Aadhaar cards with their bank accounts and then use their thumb impressions at retail stores for payments. The BHIM-Aadhaar will be like a SmartPhone with a biometric reader.

# No internet is needed to use BHIM app. 

"Any citizen without access to SmartPhone, Internet, debit or credit cards will be able to transact digitally through the BHIM-Aadhaar platform," Modi said. 

"It will make digital payments easy for people who cannot read or write, thus realising Babasaheb Ambedkar's vision of social and financial empowerment for all," he said.

# Referral Bonus

Modi launched two new incentive schemes for the BHIM-Cashback and Referral Bonus with an outlay of Rs 495 crore for a six-month period to ensure digital payments culture permeates down to the grassroots.

Under the Referral Bonus Scheme, both the existing user who refers BHIM and the new user who adopts it would get a cash bonus of Rs 10 credited directly to their accounts.

(With IANS inputs)