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IMPS News

31 Jan 2024

New IMPS Rules From Feb 1: Check How Sending Money Will Get Simpler

Users can transfer funds using just a mobile number and the recipient's bank account name. The NPCI issued a circular on October 31, 2023. It allows for 24x7 instant domestic funds transfer through various channels.

05 Dec 2023

UCO Bank Fraud: Two Engineers Transfer 820 Crore INR From 7 Private Banks

Uco Bank filed a complaint with the CBI, alleging that two sports engineers working in the bank transferred 820 crore INR from seven private banks to their bank accounts between November 10, 2023, and November 13, 2023.

16 Nov 2023

UCO Bank Net Banking Update: Online IMPS Transfers Stopped; Bank Says THIS

UCO Bank said that all other critical systems are operational and available, however could not ascertain the financial impact, if any, due the glitch.

17 Oct 2023

Send Up To Rs 5 Lakh With Just Mobile Number And Bank Name: Here's How

IMPS stands for Immediate Payment Service. It is accessible 24 hours a day, 365 days a year. The IMPS charges are depending on the amount of money you are transferring using this technique.

28 Jan 2022

SBI Big Update: IMPS charges to change from next month; check new rate

SBI customers can use the bank’s net banking, mobile banking and YONO facilities. Previously, SBI allowed customers to do online IMPS transactions worth up to Rs 2 lakh. SBI has now increased the limit to Rs 5 lakh.

State Bank of India

14 Jan 2022

SBI transaction rules changing from next month --All you want to know

SBI enhanced the limit on IMPS transactions. IMPS Limit hiked from Rs 2 lakh upto Rs 5 lakh. Bank to charge customers along with GST on IMPS.

State Bank of India

05 Jan 2022

Check SBI’s service charges on IMPS, NEFT and RTGS transactions– See chart

Though SBI will charge customers along with GST on IMPS through bank branches from next month, there will be no charges on transactions through Digital Channels.

State Bank of India

04 Jan 2022

SBI alert! You will have to pay more for IMPS transaction from THIS date

SBI will charge you Rs 20 + GST, for IMPS transactions. IMPS transactions between Rs 2 lakh and Rs 5 lakh. The charges will be effective from February 1, 2022.

25 Oct 2021

Transferring money online? All you need to know about IMPS, NEFT and RTGS

The National Payments Corporation of India is in charge of the Immediate Payment Service (IMPS). This service is available every day of the week, including holidays, 24 hours a day, seven days a week. The RBI has changed the maximum transaction limit for IMPS, which was formerly Rs 2 lakh.

08 Oct 2021

IMPS vs RTGS vs NEFT: What is the difference and minimum transaction amount?

Since July 2019, RBI stopped levying charges on transactions through NEFT and RTGS, with an aim to promote digital transactions in the country.

08 Oct 2021

Banking update! IMPS transaction limit increased from Rs 2 lakh to Rs 5 lakh

Immediate Payment Service (IMPS) offers instant domestic funds transfer facility 24x7 through various channels.

23 May 2021

NEFT not working? Here’s how you can still transfer money online

Technical upgradation of NEFT has led to the temporary suspension of the service. Customers might face difficulties in transferring money online. They can use IMPS to send/receive money online.

10 Mar 2020

Yes Bank account holders can pay their loans, credit card dues using NEFT

The moratorium on withdrawals and difficulty in withdrawing amounts from bank ATMs and branches has put the customers in a lot of difficulties.

Digital payment increase

25 Sep 2017

Digital payments up, debit card use declines: Report

According to the report, the usage of debit card has been weak and the total debit card transactions have seen a modest decline -- both in terms of value and volume.

National Payments Corporation of India (NPCI)

04 Aug 2017

NPCI hits 1 billion transaction mark in July

He said highest growth has been seen in the mobile payments and Aadhaar-based payments.

13 Jul 2017

SBI reduces NEFT, RTGS charges up to 75%

After lowering the Immediate Payment Service (IMPS) charges, the State Bank of India (SBI) on Thursday reduced charges for National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) transactions upto 75 percent effective July 15.

12 Jul 2017

SBI revises IMPS fund transfer charges- know details here

Country's largest bank SBI has waived charges for fund transfer of up to Rs 1,000 through its IMPS (Immediate Payment Service) to promote small transactions.

07 Apr 2017

HDFC Bank launches its UPI on Chillr

Launch of HDFC Bank`s UPI on Chillr will benefit customers of 44 banks that will now be able to conduct digital transactions seamlessly using the Chillr app.

21 Dec 2016

Demonetisation: Govt limits charges on electronic fund transfer

In order to further promote digital and card payments, Finance Ministry on Wednesday directed all public sector banks(PSBs) not to charge fees for transactions settled on IMPS and UPI in excess of rates charged for NEFT for transactions above Rs 1000, with service tax being charged at actual.

17 Dec 2016

Charges on debit card transactions of up to Rs 2,000 to be lowered by RBI

In order to promote digital payments, the Reserve Bank of India (RBI) lowered merchant discount rates or payments made by debit cards under Rs 2,000

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