Immediate Payment Service (IMPS) is a real-time money transfer system available 24/7 through various channels like mobile, internet, branch, ATM, and SMS.
It offers a quick and secure way to transfer funds between banks in India and is known for being economical.
The service includes two-factor authentication, and while there are limits on fund transfers through IMPS,
registration for mobile banking is not necessary when initiating transactions via ATM or online channels.