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    Question

    ‘IMPS’ is a new term being used in banking sector.

    Its full form is – 
    A Indian Money Payment Service Correct Answer Incorrect Answer
    B International Mobile Payment Service Correct Answer Incorrect Answer
    C International Money Payment Service Correct Answer Incorrect Answer
    D Interbank Mobile Payment Service Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Inter-Bank Mobile Payment Service or Immediate Mobile Payment Service (IMPS) allows banks to facilitate real-time transfer and receipt of funds for account holders through their mobile phones. The funds can be transferred in same bank or different specified banks. The transfer can be done using mobile phones or the Internet banking facility at any time, including Sundays and bank holidays.

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