{"id":118623,"date":"2021-07-14T18:35:22","date_gmt":"2021-07-14T13:05:22","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=118623"},"modified":"2021-07-15T19:08:46","modified_gmt":"2021-07-15T13:38:46","slug":"finance-minister-of-india-and-bhutan-jointly-launches-bhim-upi-in-bhutan","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/finance-minister-of-india-and-bhutan-jointly-launches-bhim-upi-in-bhutan\/","title":{"rendered":"Finance Minister of India and Bhutan jointly launches BHIM\u2013UPI in Bhutan"},"content":{"rendered":"<p><strong>Source: <\/strong><strong><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=1735075\">PIB<\/a><\/strong><strong>\u00a0<\/strong><\/p>\n<p><strong>What is the News?<\/strong><\/p>\n<p>The Union Minister of Finance of India along with the Finance Minister of Bhutan has jointly launched BHIM\u2013UPI in Bhutan.<\/p>\n<h5><strong>Significance of this launch:<\/strong><\/h5>\n<ul>\n<li><strong>Bhutan <\/strong>is now the first country to adopt UPI standards for its QR deployment. It will also be the first country in our immediate neighbourhood to accept mobile-based payments through the BHIM App.<strong>\u00a0<\/strong><\/li>\n<li><b>Further, Bhutan\u00a0<\/b>is also the second country after Singapore to have BHIM-UPI acceptance at merchant locations<\/li>\n<\/ul>\n<h5><strong>What is BHIM?<\/strong><\/h5>\n<ul>\n<li><strong>Bharat Interface for Money(BHIM) <\/strong>was developed by the National Payments Corporation of India(NPCI) in 2016.<\/li>\n<li><strong>It is a payment app<\/strong> that lets you make simple, easy and quick transactions using Unified Payments Interface (UPI).<\/li>\n<\/ul>\n<h5><strong>What is UPI?<\/strong><\/h5>\n<ul>\n<li><strong>Unified Payments Interface(UPI) <\/strong>is an instant real-time payment system developed by NPCI facilitating inter-bank transactions.<\/li>\n<li><strong>The interface <\/strong>is regulated by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform.<\/li>\n<\/ul>\n<h5><strong>About NPCI:<\/strong><\/h5>\n<ul>\n<li><strong>NPCI<\/strong> is an umbrella organisation for operating retail payments and settlement systems in India.<\/li>\n<li><strong>It is an initiative<\/strong> of the Reserve Bank of India (RBI) and Indian Banks Association(IBA) under the provisions of the Payment and Settlement Systems Act, 2007 for creating a robust Payment and Settlement Infrastructure in India.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Source: PIB\u00a0 What is the News? The Union Minister of Finance of India along with the Finance Minister of Bhutan has jointly launched BHIM\u2013UPI in Bhutan. Significance of this launch: Bhutan is now the first country to adopt UPI standards for its QR deployment. It will also be the first country in our immediate neighbourhood&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/finance-minister-of-india-and-bhutan-jointly-launches-bhim-upi-in-bhutan\/\">Continue reading <span class=\"screen-reader-text\">Finance Minister of India and Bhutan jointly launches BHIM\u2013UPI in Bhutan<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[],"class_list":["post-118623","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1700483817},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/118623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=118623"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/118623\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=118623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=118623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=118623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}