Question
Recently Cabinet provides additional Rs ____ cr to RuPay debit card, BHIM transactions for FY23 that aims at promoting digital payments across the country.
Solution
The Union Cabinet doubled the allocation for promotion of RuPay debit cards and low-value BHIM-UPI (Unified Payments Interface) transactions to Rs 2,600 crore for FY23 that aims at promoting digital payments across the country. Bharat Interface for Money (BHIM) is an app that helps make simple, easy and quick payment transactions using Unified Payments Interface (UPI). instant bank-to-bank payments, pay and collect money using just Mobile number or Virtual Payment Address (UPI ID) can also be made.
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