Question

what is imps and what are its aplications
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Answer 1

Answer:

Immediate Payment Service (IMPS) is an instant payment inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones. Unlike NEFT and RTGS, the service is available 24/7 throughout the year including bank holidays

APPLICATIONS:

1.IMPS Funds Transfer facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put high inter-bank fund transfers in a secured manner with immediate confirmation features.

2. IMPS funds transfer – Person to Person(P2P) Using IFSC and Account Number

Answer 2

Answer:

IMPS

Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones. Our IMPS service helps you access your Bank Account and transfer funds instantly. The beneficiary account is credited immediately when a Fund Transfer request is made through your Mobile phone / Internet Banking. This service is available 24x7, throughout the year including Sundays and any bank holiday. Below is the list of participating banks.

IMPS Funds Transfer facility is available through iMobile and Internet Banking. You will need a 7 digit MMID* (Mobile Money Identifier) number to transfer funds via IMPS