Question

Which of the following is NOT correct about IMPS ( Immediate Payment Service) ?

i. It is available 24x7x365 including on holiday

ii. This service is managed by RBI

iii. Credit and debit confirmations is sent to the sender and receiver of funds

iv. It provides simple to use and instant fund transfer mechanism

A Only i Correct Answer Incorrect Answer
B Only i & ii Correct Answer Incorrect Answer
C Only ii Correct Answer Incorrect Answer
D Only iii Correct Answer Incorrect Answer
E Only i & iii Correct Answer Incorrect Answer

Solution

IMPS is managed by the National Payments Corporation of India (NPCI) and is built upon the existing National Financial Switch network.

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