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Prime Minister Narendra Modi on Friday unveiled two schemes to incentivise digital transactions on the BHIM app, terming the DigiDhan movement a mission to fight corruption.
The Prime Minister also launched the BHIM-Aadhaar Pay app, a cashless payment system that identifies users and enables transactions using thumb impressions. The app will help usher in an Aadhaar-enabled payment ecosystem, an official statement said.
The BHIM Cashback and Referral Bonus schemes have been given a 6-month outlay of ₹495 crore.
Under the Referral Bonus Scheme, both existing users who refer the BHIM app and new users will get a cash bonus, which will be credited to their bank account. The Cashback Scheme provides merchants a cashback for every transaction made on BHIM.
The existing Lucky Grahak Yojana and the DigiDhan Vyapar Yojana have come to an end 100 days after their launch. Under the schemes, some 16 lakh users won ₹258 crore of prize money.
Digi volumes shoot up The volume of all digital transactions has risen 23 times, now standing at 63.8 lakh transactions for a value of ₹2,425 crore in March 2017. This is against 2.8 lakh transactions worth ₹101 crore till November 2016, an official statement said.
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