New India New Economy

New India New Economy

Today, Prime Minister Narendra Modi has inaugurated BHIM Aadhaar card platform for the negociants.Through this biometric based payment system people will be able to make  payment with the help of  their thumb impression.

The Biometric based payment system launched on the occasion of the birth anniversary of the father of Indian Constitution Dr.Bhim Rao Ambedkar.

A merchant will require a smartphone and a thumb impression reader machine which is available in the market currently at a price of 2000₹. Merchant need to download bhim app from the play store in his/her smartphone and then need to connect the impression reader with it. In coming weeks there will be one more feature  through which one can withdraw money  by using one’s thumb impression.

It is beneficial for the People who are not familiar of the use of debit cards, credit cards and Mobile wallets. It is highly secure app which will use two main platforms Aadhaar payment Bridge and Aadhaar enabled payment system.Now people can simply do shopping and buy groceries in a hassle free way.  

It is very esteem step taken by Prime Minister Narendra Modi for our country. This step will help our country to grow in the area of digitization which plays requisite role in the development of our country. It will  make the digital payment easy for the people who cannot read and write.This is the most secure payment system for doing digital transactions in a country like india where a majority of population is in agricultural sector and are unaware of other electronic payment systems.With this new technology india is moving towards a less cash economy.Thus,eliminating corruption with the help of innovations.