India Prime Minister Narendra Modi.

SAN FRANCISCO (Diya TV) — Indian Prime Minister Narendra Modi Friday announced the launching of a new mobile payment application called BHIM, a rebranded version of the country’s previous UPI platform.

The announcement was made during the Digi Dhan Mela event in Talkatora stadium in New Delhi.

“Be it a smartphone or feature phone of Rs 1,000-1,200, BHIM app can be used,” Modi said. “There is no need to have Internet connectivity. One only needs a thumb. Your thumb is your bank now. It has become your identity.”

Modi also dedicated the app to Dr. B.R. Ambedkar. “The mantra of Dr. Ambedkar was to work for the uplift of the poor. And the biggest power of technology is that it can empower the poor,” Modi said.

He said boosting digital connectivity will “do wonders for our nation,” adding that the day was not far off when the cash-based transaction will turn completely digital.

Modi also said that prizes will be awarded to those who make transactions of more than Rs 50 and less than Rs 3000 using digital payment methods.

The prime minister proceeded to thank the nation as its residents struggle with the transition of the demonetization of Rs. 500 and 1,000 notes in the country, the two notes represented 86 percent of the circulated cash in the country. Modi reminded everyone his actions were being taken in an effort to combat corruption in the nation.