What is the meaning of IMPS?
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i mmediate Payment Service (IMPS) is an in st ant pay m ent inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones.
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.National Payments Corporation of India (NPCI) is responsible for managing the IMPS fund transfer mechanism. This mechanism is regulated by the Reserve Bank of India. One can define IMPS as an immediate, inter-bank real-time fund transfer mechanism enabled through electronic means.
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