IMPS (Immediate Payment Service) facilitates instant Inter Bank fund transfer on 24X7 basis. Funds can be transferred using MMID & Mobile Number or Account Number & IFSC. Service available 24x7, throughout the year including Sundays and Bank holidays.
Instant and Available 24 x 7.
Safe and secure, easily accessible and cost effective.
The customer has to do the Mobile Banking Registration if he/she wants to initiate the transaction through mobile channel.
Collect his/her MMID from bank and share with sender or alternatively share his/her Account number & IFS code for receiving money. The receiver can register his/her mobile no. for getting SMS alerts for transactions.
UPI or Unified Payments Interface is an immediate real-time payment system that helps in instantly transferring the funds between the two bank accounts through a mobile platform. Hence, UPI is a concept that allows multiple bank accounts to get into a single mobile application.
Send Money (Available through Virtual Payment Address (VPA)/ UPI ID, Mobile number, Account + IFSC, Quick Response (QR) Code).
Request Money (Available through Virtual Payment Address (VPA), Mobile Number)
Check Balance (Through Linked Bank Account in the UPI app)