CASHLESS TRANSACTION-Through BHIM app

CASHLESS TRANSATION- through BHIM APP.


Though today there are various options of cashless payment eg Pay TM,PhonePay,Credit,Debit Card and many other Payment App whereas BHIM is one of popular app of payment.


According to the data released by RBI, the cost of printing notes doubled to Rs 7,965 crore in FY'17 from Rs 3,421 crore in FY'16 on account of new currency printing post noteban. As per news agency PTI, RBI says7.62 lakh pieces of counterfeit currency notes detected in FY'17 as against 6.32 lakh in FY'16.


There are approximate 24% users who are using only credit card, 24% using only debit card, 5% using only smart card, 6% using only store card while there are few card holders who holds more than one type of card.


This way of using transactions is a huge amount of national saving in printing cost and is a most convenient way of carrying money.

Apart from above ie a huge saving in tune of approximately ₹4000crore,It gives us the credit
line also.


Here under are few steps to follow for registering the BHIM App of payment:-


Step 1- Go to Google Store and Download BHIM APP


Step 2-Install the app on your device(Mobile).This consume only 6mb data.


Step 3-Proceed as directed by the app itself using your mobile number connected to any of your S/V account where you are using internet banking and would like to transfer money to RWA account.


Step 4- BHIM APP ask for PASSCODE of Four Digit.Enter any four digit as password for BHIM APP & remembe it.


Step 5-Select Add Beneficiary.

You will get list of Banks.

Click XXXXX BANK;

which will ask IFSC CODE and BANK ACCOUNT

Enter IFSC CODE AS "XXX0001268"

S/B Account as 1234500000XXXX


Step 6- Reset PIN.This is the Six digit of Debit/ATM card pin with expiry date of internet banking Account.This will sync from Bank account from which you want to transfer money to RWA.


Step 7-Select Beneficiary as your bank and transfer the desired money.

Money will be transfer.You wil get the reference of Transaction Details.

For any query please write us.


-Pramodara