New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Which electronic funds transfer system in India is

    available 24/7 throughout the year, including on holidays also?
    A MIPS Correct Answer Incorrect Answer
    B NEFT Correct Answer Incorrect Answer
    C RTGS Correct Answer Incorrect Answer
    D SWIFT Correct Answer Incorrect Answer
    E IMPS Correct Answer Incorrect Answer

    Solution

    Immediate Payment Service   (IMPS) is an instant real-time inter-bank  electronic funds transfer  system in  India. IMPS offers an inter-bank electronic fund transfer service through mobile phones. Unlike  NEFT  and  RTGS, the service is available 24/7 throughout the year including bank holidays. Current, Chairman of DIPP is Ramesh Abhishek.

    Practice Next