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Q. IMPS full form?
a) Immediate Payment Service
b) Inter-Bank Payment Service
c) Intermediate Payment Service
d) Immediate Payment System
Answer:- a) Immediate Payment Service.
- Notes:
- IMPS allows instant and secure money transfers between bank accounts, 24/7, 365 days a year.
- You can use IMPS through various channels like mobile banking apps, internet banking, and ATMs.
- IMPS is managed by The National Payments Corporation of India (NPCI).
- IMPS supports various transaction types, including person-to-person (P2P) and person-to-account (P2A) transfers.