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.

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