Demonetisation impact: Modi govt's BHIM has hit the bulls' eye

But it will face its first big challenge from Google in the days to come, and will take a while before it can wean Indians off their love for cash

The government’s BHIM (Bharat Interface for Money) application announced by Prime Minister Narendra Modi on December 31, 2016, has seen remarkable growth over the past few months. Named after Dalit icon Bhimrao Ambedkar, the digital payment application was also launched for non-smartphone users on his birth anniversary in April this year. During the first nine months of operation, BHIM has reported transactions worth more than Rs 11,000 crore and now accounts for almost half of all United Payment Interface (UPI) transactions in the country.
 
National Payments Corporation of India figures show that in September this year, more than Rs