Current context: NPCI BHIM Services Limited (NBSL), a subsidiary of the National Payments Corporation of India (NPCI), has launched BHIM 3.0, the latest version of its digital payment platform.

About BHIM

• Full Form: Bharat Interface for Money
• Launch Year: 2016
• Purpose: UPI-based payment interface enabling real-time fund transfers via a single identity (mobile number or name).

Significance:

• Promotes digital payments and financial inclusion in India.
• Key initiative to support India’s digital economy.

Key Features of BHIM 3.0

• Language Expansion: Now available in 15+ Indian languages.
• Connectivity Optimisation: Ensures seamless transactions in low-internet areas.
• Money Management Tools: Includes expense tracking, bill splitting, and spending analytics.
• Family Mode: Enables shared expense management and assigning payments within families.