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Important Facts For Prelims

BHIM 2.0

  • 22 Oct 2019
  • 1 min read

The Ministry of Electronics and Information Technology (MeitY) has launched a new version of of Bharat Interface for Money (BHIM) app i.e. BHIM 2.0.

  • BHIM app, that was developed by the National Payments Corporation of India (NPCI), was launched in December, 2016.
  • It is a Unified Payment Interface (UPI) that allows real time fund transfer.
  • The new version of BHIM supports three additional languages -- Konkani, Bhojpuri and Haryanvi -- over and above the existing 13.
  • Under BHIM 2.0, the existing cap of Rs. 20,000 has been increased to Rs. 1,00,000, from verified merchants.
  • Other features include a ‘donation’ gateway, linking multiple bank accounts, option of applying in Initial Public Offering (IPO), gifting money, etc.

Source: Mint

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