1. IMPS was started in the year 2010 as a pilot project where the participants were State Bank of India, Bank of India, ICICI and Union Bank Of India. Since mobile banking is on the rise, IMPS is highly beneficial due to its round the clock availability. IMPS is also beneficial for small amounts to be transferred.

  2. Electronic money transfer is the call of the day. Everyone wants their money instantly. Here you go, we have got the NEFT and IMPS. IMPS is even better because that enables to have your money immediately. So even if you want to transfer money on a holiday it is possible with IMPS because it functions 24*7. But many may not be aware of IMPS services.

  3. NEFT and RTGS are common modes of transport these days. I was not clear about IMPS. But, this article is very informative. Is IMPS available in all the banks? The faster money can be transferred, the happier people are. And it’s a good point that money is transferred on holidays too, especially if urgent.

  4. IMPS is more efficient than NEFT cause it works 24/7 as opposed to NEFT. But are there any extra charges levied for IMPS? IMPS has many practical advantages over NEFT like no extra charges for transfer, transfer of money even on holidays.


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