What is Immediate Payment Service (IMPS)

What is Immediate Payment Service (IMPS)
Ans.  Immediate Payment Service (IMPS) is an instant, inter bank (like to NEFT) electronic fund transfer service that can be initiated only through mobile phones and service introduced by National Payments Corporation of India (NPCI). If anyone want to send money using IMPS, he/she should have the mobile number and MMID(Mobile Money Identifier is a seven digit number issued by banks to their customers) of the beneficiary 

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Complete Solution for Banking Exams in India
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