New Delhi: The Union Minister for Communications, Electronics & Information Technology Ravi Shankar Prasad on Monday launched the latest version of the government’s United Payments Interface (UPI) payment app, ‘BHIM 2.0’.
BHIM—the Bharat Interface for money—is developed by the National Payments Corporation of India (NPCI), and was first launched on December 20, 2016. BHIM 2.0, first announced in 2018, adds new features including allowing users to use funds from their overdraft account, invest in Initial Public Offerings (IPOs) via UPI, donate to NGOs and various state and central relief funds via a dedicated ‘Donate’ portal, and schedule payments to be made-later using the ‘Mandates’ facility.
The ability to make IPO payments using UPI is not limited to BHIM alone but can be done using the person’s UPI id.
BHIM 2.0 also adds support for more languages, as well as options for users to verify payments beforehand by adding an invoice facility for payments to verified merchants.
Prasad launched the new version of BHIM at the 'Ministry of Electronics and IT (MeitY) StartUp Summit' in Delhi, where he called for Digital India to lead the growth in rural India.
"I want Digital India platform to transform rural India and create aspirations in tier 3 and tier 4 cities and towns," the Minister said. Citing success stories of technology platforms Unified Payments Interface (UPI) and GSTN (GST-Network), the Minister said government entities such as NIC, STPI should also become competitive.
"For Digital India to succeed, the government entities must also become competitive. I have told the National Informatics Centre (NIC) that your people have to become competitive and innovative...they have changed. Software Technology Parks of India (STPI) also must change," the Minister said.
Digital India program is finding global resonance, the Minister said, adding that there is digital appetite across India which needs to be tapped.
He asked technology companies to come forward and support the government in the Digital Villages program. "I appeal to the tech giants...we are going to set up one lakh digital villages in the coming few years. Should I expect some of you to patronise and mentor those digital villages in your own way. They should become the centre of empowerment and entrepreneurship," the Minister said.
The Minister also instructed senior officials in his Department to digitally map innovative products by small entrepreneurs and artisans in villages across India. The initiative on having such a digital catalogue of enterprises and entrepreneurs should be coordinated by CSC, and other entities, he said.
India should become a big centre for patent and Intellectual Property, the Minister said adding that patent clearance timelines should be brought down to a maximum of one year. Responding to the industry's concerns of patent clearances taking almost 4.5 years at times, the Minister said "our patent clearance must be completed in a year's time" and assured the industry of his full support on the issue.
India should be a center for deep technology, Prasad said. Highlighting the crucial role of startups in India, the Minister said there are 23,000 startups and 800 are technological startups. "21 are 'unicorns'...But when I see the global number of unicorns, that number is 400 plus and so there is a case for greater mentorship and encouragement," he said.
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