What Does IMPS means?

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IMPS stands for "Immediate Payment Service". IMPS is one the predominant fund transfer option for the net banking users now a days. The Actual foundation of this starts at 22 November 2010 and this service is only available in India for the user to transfer funds quickly.

IMPS is founded by NPCI(National Payments Corporation of India). check the official website of IMPS here(IMPS [Click Here]).

If you are a user of NEFT or RTGS you will know the problems such as late transfer and even delay during peak hours and holidays. So in order to eliminate this gap between transfer a quick transfer system by IMPS is introduced. Basically IMPS offers inter-bank electronic fund transfer through mobile phones. But now through web also it is possible.

This service is available 24/7 throughout the year including bank holidays.

Initially this was initiated by 4 banks.
1. State Bank of India
2. Bank of India
3. Union Bank of India
4. ICICI Bank

To know the list of banks that support [Click Here]

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