Majority of the citizens of India rely on technology to live
a comfortable lifestyle. Almost all business sectors have included it in their
day-to-day schedule to complete tasks and communicate effectively. It has
reduced the burden of manual labour and made things fast, secure and
convenient. All the services become accessible to people living in urban and
rural areas. They can quickly get their tasks done online without worrying
about wasting too much time and effort.
Payments have also become digital, thanks to the Digital
India initiative started by the Indian Prime Minister Mr Narendra Modi. He has
introduced the Bharat Interface for Money, or the BHIM app for digital
payments on Android and IOS. It is a unified payments interface which
facilitates all kinds of transactions like payments to vendors, bill payments,
mobile and DTH plan recharges, etc.
It allows users to make direct bank payments with the help
of UPI ID and PIN to any bank account on UPI. They can also scan the QR code of
shopkeepers with the BHIM UPI app to transfer money. They can also place a
request for funds during emergencies. Download the app from the Play Store or
App Store and select the preferred language. Enter the registered mobile
number. Set a four-digit password for access to the app and link the bank
account. Set the UPI PIN by entering the last six digits of the debit or credit
card along with its expiry date. The registration is complete.
Since the introduction of internet
banking, there is a reduction in the number of queues outside banks. People
can use websites and online portals to access banking services. They need to
have a stable internet connection on their PCs or laptops to transfer funds to
other’s accounts, pay bills, request for a passbook/cheque book, check their
account balance, etc.
E-banking saves a lot of time, especially for the employed
population. They hardly find time to visit the bank for meeting their needs.
Even if they do so, their work schedule becomes upset, and they cannot focus on
other essential tasks. They can now access so many features and facilities of
banking without any hassle.
People can access their bank accounts worldwide with online
banking. Consumers are not required to visit a bank branch for banking
transactions. They can also request for a new bank account, bank statements,
debit or credit cards, etc. They can also report frauds.
Download the mobile banking application, set the PIN and
enter the OTP to have secured banking experience and track all the finances.
