What is the expansion of BHIM?

Correct option is A

The correct answer is (a) Bharat Interface for Money.
· BHIM (Bharat Interface for Money) is a digital payment application developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI).
· It was launched by the Government of India to promote cashless transactions and financial inclusion.
· The app allows users to make direct bank transfers using a mobile phone, with ease of use and minimal steps involved. It supports real-time payments between bank accounts through UPI.
Information Booster:
· BHIM was launched in December 2016 to support the Government's initiative of Digital India.
· It simplifies digital payments and can be used for sending or receiving money using UPI.
· The application supports multiple Indian languages for ease of access by users across the country.
· It is secured with multi-layered encryption and supports transactions between any two UPI-enabled banks.