IMPS, which stands for Immediate Payment Service is a revolutionary interbank electronic funds transfer system in India. Launched by the National Payments Corporation of India (NPCI), IMPS allows you to transfer funds instantly and securely through mobile banking, internet banking, or even ATMs.
Immediate Payment Service, which is the IMPS full form in banking, is a payment service for instant money transfers. It is facilitated by NPCI (National Payment Corporation of India). Through IMPS, one can send or receive funds instantly and do inter-bank transactions using mobile or online banking.
NEFT is a centralised payment system operated by the Reserve Bank of India (RBI), whereas IMPS is a money transfer service managed by the National Payments Corporation of India (NPCI). Both methods of fund transfer are safe and fall under the purview of the Reserve Bank of India.
The IMPS Reference Number is provided after you complete an IMPS transaction. It acts as a tracking code to monitor the status of your transaction. The reference number is a combination of alphabets and numbers generated by the bank for processing an IMPS transaction.
What is NEFT / RTGS / IMPS / UPI - Malayalam / ബാങ്ക് ട്രാൻസ്ഫർ രീതികൾ മലയാളം
Is IMPS transfer safe?
Fast, safe, and reliable: Known for its immediate fund transfer capability, IMPS is also highly secure, providing a reliable platform for transactions. Accessibility: IMPS is accessible through various channels like mobile apps, internet banking, and even ATMs.
If you have access to internet banking or mobile banking, log in to your account and navigate to the transaction history section. Look for the specific IMPS transaction in question and locate the sender details associated with it.
NEFT transactions are processed in half-hourly batches and can take up to a few hours to complete. RTGS transactions are processed individually and are usually completed within a few minutes. On the other hand, IMPS allows for real-time funds transfer, ensuring instant transactions.
The maximum limit per transaction is ₹5,00,000. The total limit for daily transfers is ₹25,00,000, allowing you to make multiple transactions throughout the day, as long as the total does not exceed this amount.
Register yourself with the mobile banking service of the bank. Get Mobile Money Identifier (MMID) and MPIN from the bank. Download Software (Application) for mobile banking (ensure the compatibility of mobile with the application) or use the SMS facility in your mobile if your bank provides IMPS on SMS.
As per NPCI circular, the maximum amount that can transferred is Rs 2 Lakhs per transaction. Any transaction more than Rs 2 Lakhs will not get processed and will be credited back into your account.
In case the IMPS transaction is not completed for any reason - technical or business, the reversal of the remitter funds will happen immediately. If such a transaction becomes a subject matter of reconciliation wherein the fate of transaction is not determined immediately, the reversal of funds will happen in T+1 days.
National Payments Corporation of India (NPCI), which owns and operates the IMPS transfer system, plays the vital role of being the coordinator of the IMPS network.
The IMPS reference number is crucial for tracking the status of your transaction. It provides a unique identifier that allows you to verify whether the funds have been successfully transferred and received.
If you need to transfer money quickly, a wire transfer or peer-to-peer payment app will be the speediest option. Security and convenience: When transferring money, there is some risk of scams or fraudulent activity. ACH transfers and wire transfers tend to be the safest ways to move money between accounts.
As of 2025, the Indian Bank IMPS fees are as follows, based on available information: Up to ₹1,000 : NIL. ₹1,001 to ₹10,000 : ₹2.50 + GST per transaction. ₹10,001 to ₹25,000 : ₹4.50 + GST per transaction.
Did you pay with a credit card or debit card? Contact the company or bank that issued the credit card or debit card. Tell them it was a fraudulent charge. Ask them to reverse the transaction and give you your money back.
Finding the sender details of an IMPS transaction can typically be done by following these steps: Check your transaction history: Look for the specific IMPS transaction in your banking or financial institution's transaction history. It should provide information such as the sender's name or account number.
