Transactions worth Rs 361 crore have so far been made using the newly-launched Bhim application for mobile phones, Lok Sabha was informed.
Minister of State for Planning Rao Inderjit Singh also said the BHIM (Bharat Interface for Money) app has brought various banks under one umbrella, making it convenient for the users.
Earlier, the consumers had to use different applications offered by various banks for digital transactions.
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Saksham Bharat 2026
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Responding to supplementaries during Question Hour, he said while Scandinavian countries have achieved a rate of 90 per cent in digital transactions, in India the figure was three per cent.
If the figure reaches 22 per cent, it will help cut down black money from the economy, Singh said.
To a poser on whether security was in place for digital economy, he said though no system is “101 per cent fool-proof”, India being a software-rich nation, it will be able to plug the flaws on its own.
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India will chair the Common Criteria Development Board from April 2026, gaining influence over international IT security certification standards recognised by 38 countries.
