The end-to-end transaction is fully
automated, with minimal human intervention required.
Customers of 67 banks in India can
transfer instantly any time of day or night through the IMPS mode
In addition to the 67 banks, 3
cooperative banks are on IMPS network
The conventional electronic transfer
channels i.e NEFT/RTGS/Clearing Grid are closed on 02 Oct 2014 & 03 Oct 14.
Physical bank branches thought India are closed.
Net banking will function, however
as NEFT/RTGS are closed, the funds transfer through this mode will not work.
The only electronic funds transfer
which will work on 02 Oct 2014 & 03 Oct 14 is IMPS. Nothing more, Nothing
less.
Be 100% sure of the beneficiaries’
bank account number, IFS Code before initiating the IMPS transaction. There is
a very remote chance of funds callback
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