WHAT IS IMPS?
IMPS or Immediate Payment Service is one of the electronic funds transfer systems started in Nov.-2010 in India. IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS is an emphatic tool to transfer money instantly within banks across India through mobile, internet and ATM which is not only safe but also economical both in financial and non financial perspectives. AS of now only up to Rs. 50,000 we can send through IMPS.
IMPS facility is provided by NPCI (National Payments Corporation of India) through its existing NFS (National Financial switch).
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