IMPS - (India's Magical Payment System )Member Banks reaches the 50 mark

The IMPS enabled member bank list has reached 50, with Punjab and Maharashtra Co-operative Bank joining IMPS on 23-Jul-12.

July 12 had been a particularly busy period for IMPS network, with 6 Banks becoming part of the IMPS family.

The following Banks have joined IMPS in July 12.

• Punjab and Maharashtra Co-operative Bank on 23-Jul-12
• Standard Chartered Bank on 22-Jul-12
• ING Vysya Bank on 21-Jul-12
• Karnataka Bank on 20-Jul-12
• Janata Sahakari Bank, Pune on 12-Jul-12
• United Bank of India on 4-Jul-12

All the above banks have are still in the soft launch stage. Once the IT Applications are stabilized, and Operations Team familiar with the in and out of the IMPS flow, the respective Bank Customers will be invited to avail the IMPS benefits.

Janata Sahakari Bank Ltd., Pune offers IMPS.

Janata Sahakari Bank Ltd., Pune established on 18th October 1949, with over 37 branches spread in the 7 districts in and around Pune has entered the IMPS network.

Late Moropant Pingale, an RSS Pracharak was the main inspiration in the establishment of the Bank. To remember his memories, the Bank has instituted an award in his name. The award is given to a Organization engaged in Social work.

With the beauty of IMPS, JBS-Pune customers can now receive and send funds instantly to all the 46 Banks customers on the IMPS network. This dramatically increases the reach of the JBS customers.