IMPS :: The Electronic funds transfer systems of India

IMPS :: The Electronic funds transfer systems of IndiaJanuary | Wednesday | 06, 2016 :: Immediate Payment Service (IMPS) is one of the electronic funds transfer systems of India. Started in Nov.-2010.

IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS is an emphatic tool to transfer money instantly within banks across India through mobile,internet and ATM which is not only safe but also economical both in financial and non financial perspectives.

In the above context, NPCI has carried out a pilot on mobile payment system initially with 4 member banks viz State Bank of India, Bank of India, Union Bank of India and ICICI Bank in August 2010. Yes Bank, Axis Bank and HDFC Bank have joined this pilot in month of September, October and November 2010 respectively. Immediate Payment Service (IMPS) public launch happened on 22 November 2010 by Smt. Shyamala Gopinath, DG RBI at Mumbai.

This facility is provided by NPCI through its existing NFS switch.

   * Andhra Bank

   * Axis Bank

   * Bank of Baroda

   * Bank of India

   * Bassein Catholic Co-op Bank

   * BNP Paribas

   * Canara Bank

   * Catholic Syrian Bank

   * Central Bank of India

   * Citibank

   * City Union Bank

   * Corporation Bank

   * Cosmos Co-operative Bank

   * Dena Bank

   * Development Bank of Singapore

   * Development Credit Bank

   * Dhanalakshmi Bank

   * Dombivli Nagarik Sahakari Bank

   * Federal Bank

   * HDFC Bank

   * HSBC

   * ICICI Bank

   * IDBI Bank

  *  Indian Bank

   * Indian Overseas Bank

   * IndusInd Bank

   * ING Vysya Bank

   * Jammu & Kashmir Bank

   * Janata Sahakari Bank, Pune

   * Karnataka Bank

   * Karur Vysya Bank

   * Kerala Gramin Bank

   * Kotak Mahindra Bank

   * Lakshmi Vilas Bank

   * Mehsana Urban Co-operative Bank

   * Nainital Bank

   * NKGSB Co-operative Bank

   * Oriental Bank of Commerce

   * Pragathi Krishna Gramin Bank

   * Punjab and Maharashtra Co-op Bank

   * Punjab and Sind Bank

   * Punjab National Bank

   * RBL Bank

   * Saraswat Bank

   * South Indian Bank

   * Standard Chartered Bank

   * State Bank of Bikaner and Jaipur

   * State Bank of Hyderabad

   * State Bank of India

   * State Bank of Mysore

   * State Bank of Patiala

   * State Bank of Travancore

   * Syndicate Bank

   * Tamilnad Mercantile Bank

   * Thane Janata Sahakari Bank

   * The A.P Mahesh Urban Co-op Bank

   * The Greater Bombay Co-op Bank

   * UCO Bank

   * Union Bank of India

   * United Bank of India

   * Vijaya Bank

   * Yes Bank

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