1. IMPS is a payment service provided by banks to allow real-time inter-bank fund transfer.
2. It is a service which is available 24 X 7 including on Sundays and holidays.
3. Typically, the maximum limit set for IMPS is Rs 2 lakh per day.
4. One needs a mobile number and mobile money identifier or bank account and IFSC code or Aadhaar to make payments through IMPS.
5. Payments can be made using internet banking, mobile banking or ATMs.
(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
