BHIM App Users Have Spent 361 Cr So Far: Govt

NEW DELHI: Transactions worth 361 crore have so far been made using the newly-launched Bhim application for mobile phones, Lok Sabha was informed today.

Minister of State for Planning Rao Inderjit Singh also said the BHIM (Bharat Interface for Money) app has brought various banks under one umbrella, making it conventient for the users.

Earlier, consumers had to use different applications offered by various banks for digital transactions.

Responding to supplementaries during Question Hour, he said while Scandinavian countries have achieved a rate of 90 pct in digital transactions, in India the figure was three pct.

If the figure reaches 22 pct, it will help cut down black money from the economy, Singh said.

To a poser on whether security was in place for digital economy, he said though no system is "101 pct fool-proof", India being a software-rich nation, it will be able to plug the flaws on its own.

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