In a major thrust for the digital and cashless payments ecosystem in India, the Central government on Monday (21 October) launched the BHIM 2.0 Universal Payments Interface (UPI), reports Livemint.
Developed by the National Payments Corporation of India (NPCI) in 2016, the BHIM 2.0 comes loaded with a host of functionalities, including support for additional languages, and also enhanced transaction limits.
The new version of BHIM supports three additional languages - Konkani, Bhojpuri and Haryanvi - over and above the existing 13.
The new developments in the application also include options of investing and applying in Initial Public Offerings (IPOs), gifting of money, linking multiple bank accounts etc. The application also comes equipped with a dedicated gateway for donations.
The state-of-the-art payments system was launched by Union Minister Ravi Shankar Prasad at a startup summit organised by the Ministry of Electronics and Information Techology. He also launched a StartUp Hub portal to add support and muscle to the booming startup economy of the nation.
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