Aadhaar Set to Revolutionise Indian Economy: PM Modi

Posted April 14, 2017

With the help of this aap, payments can now be made with the help of thumb impression, and PM said that now people's mobile phone will soon become their ATMs.

"Whether you appreciate the idea of a cashless society or not, you will definitely be angry about corruption, which is something Bhim-Aadhaar app will fight against", he said. The service has been named as the as BHIM-Aadhaar Sewa. Privacy experts are also concerned that the government is extending the use of Aadhaar from its orginal objective of identifying beneficiaries for government schemes for the poor, to requiring the Aadhaar number for a variety of other purposes including payment of income tax and the distribution of free mid-day meals to school children.

The Aadhaar card is an identity card based on their biometric and demographic data.

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The Aadhaar Pay is the advanced version of the prior Aadhaar Enabled Payment System (AEPS), especially useful for merchants. NITI-Aayog is a government-backed think tank.

The app aids the illiterate, non-tech friendly and digitally backward population of the country.

After enrolling, a person is given an Aadhaar number, which they enter when making a transaction. In 2016, the Twiplomacy study was expanded to cover all key social media platforms and has massively enhanced Burson-Marsteller's digital reputation worldwide. Hence, helping the government accelerate its digitization campaign further. It does not even require an Internet connection or a PoS machine for its functioning. Then, the Merchants Discount Rate or MDR that is paid to the bank by the merchant will also be waived off. To start with there will be no extra charges levied on the payment, as with other digital payment modes like Debit card, Credit card or e-wallets. However, a merchant validating payments through the BHIM-Aadhar app now no longer requires paying MDR to banks. BHIM Aadhar Pay smartphone payment app would also eliminate the fee now being charged by the private card companies such as "MasterCard" and "Visa".

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"When Gandhi returned to India from Africa and began public life from Sabarmati Ashram 100 years, Bapu met Ganga Baa who gifted him the "Charkha" ...

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