Federal Bank - IMPS live

Federal Bank  - IMPS live

Federal Bank, has joined IMPS on 15/02/2011 with a soft launch and by 7^th march 2011, has gone live for a public launch.

This is a very fast TAT. Normally, if you observe, the gap between the Soft Launch and the Public Launch is at least a month. oH However, Federal Bank could shorten the average TAT.

The details can be accessed @

http://www.federalbank.co.in/General_ProductandServices_Inter-bankMobilePaymentSyst.aspx

For the time being, it is a plain vanilla product. However, 1 additional feature is that the Federal Bank customers can transfer funds on the IMPS Channel via the SMS Mode too and not be dependent on the Mobile Banking Application.

This is a good option.