BHIM App Payments Touch Rs 11,000 Crore In FY18 Amid Cashback Offers

BHIM or Bharat Interface for Money app has led to a 'spectacular growth in digital payments', said Union Minister Ravi Shankar Prasad on Monday. "There has been a spectacular growth in digital payments through BHIM UPI over a span of one year, thus showing that India is rapidly moving towards a digital economy. #DigitalIndia," Mr Prasad, the Minister of Electronics and Information Technology, tweeted from his verified Twitter handle, @rsprasad. In financial year 2016-17 the total amount transferred using BHIM was only Rs 695 crore and it touched a staggering Rs 10,983 crore, further mentioned the tweet.