Question
Which electronic funds transfer system in India is
available 24/7 throughout the year, including on holidays also?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.
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