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 mechanismSolution
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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