Match the following: A) IMPS P) Fund transfer

Solution

Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. It is also being extended through other channels such as ATM, Internet Banking, etc Negotiated Dealing System - NDS' an electronic trading platform, used to facilitate the exchange of government securities and other money market instruments. UPI is built over IMPS for transferring funds using Virtual Payment Address. Aadhaar Payments Bridge System (APBS) set up by NPCI pertains to transactions of those beneficiaries whose accounts have already been linked to Aadhaar number. The payments pertained mainly to MNREGA, student stipends, scholarships, and few other district welfare schemes.