Question

Write a Short note on IMPS.

Answer 1

The acronym IMPS stands for Immediate Mobile Payment Service. It's an acronym for real-time inter-bank electronic fund transmission. A bank customer can use this service to send a specific amount to anyone else who has a bank account with any other bank. The National Payments Corporation of India (NPCI) provides this service 24 hours a day, 7 days a week, 365 days a year.