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Feb 2024 CA > IMPS using mobile number and bank name > Flashcards

IMPS using mobile number and bank name Flashcards

1
Q

What does IMPS stand for ?

A

Immediate Payment Service

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2
Q

What is the new development in IMPS ?

A

Now. the customers can transfer funds to another person with only knowing their mobile number and name of the bank. The 11 digit account number need not be mentioned

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3
Q

What is the limit on the transaction ?

A

Upto 5 lakhs

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4
Q

IMPS is a service by which company ?

A

NPCI

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Feb 2024 CA (404 decks)

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