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Immediate Payment Service (IMPS)

IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS is an emphatic tool to transfer money instantly within banks across India through mobile, internet and ATM which is not only safe but also economical both in financial and non-financial perspectives Immediate Payment Service (IMPS) public launch happened on 22nd November 2010 by Smt. Shyamala Gopinath, DG RBI at Mumbai and this service is now available to the Indian public.

Objectives of IMPS

  • To enable bank customers to use mobile instruments as a channel for accessing their banks accounts and remit funds
  • Making payment simpler just with the mobile number of the beneficiary
  • To sub-serve the goal of Reserve Bank of India (RBI) in electronification of retail payments
  • To facilitate mobile payment systems already introduced in India with the Reserve Bank of India Mobile Payment Guidelines 2008 to be inter-operable across banks and mobile operators in a safe and secured manner
  • To build the foundation for a full range of mobile based Banking services.

The key features of IMPS Funds Transfer are as follows:

  • Instant Funds Transfer
  • 24*7*365 availability except branch channel which is available during working hours on a Bank working day.
  • Credit and debit confirmations to sender and receiver.
  • Simple & Easy to use
  • Fast, inexpensive, safe & secure, accessible

The participants for IMPS are as follows:

  • Remitter (Sender)
  • Beneficiary (Receiver)
  • Banks
  • National Financial Switch - NPCI

Pre-Requisites for IMPS

Registration for Remitter:

  • Register yourself with the mobile banking service of the bank.
  • Get Mobile Money Identifier (MMID) and MPIN from the bank
  • Download Software (Application) for mobile banking (ensure the compatibility of mobile with the application) or use the SMS facility in your mobile if your bank provides IMPS on SMS

Registration for Beneficiary:

  • Link your mobile number to the account in the respective bank.
  • Get Mobile Money Identifier (MMID) from the bank

Funds Transfer / Remittance

  • Using Mobile number & MMID (P2P)
  • Using Account number & IFS Code (P2A)
  • Using Aadhaar number (ABRS)

Using Mobile number & MMID (P2P)

IMPS offer an instant,24*7 interbank electronic fund transfer service capable of processing person to person, person to account and person to merchant remittances via mobile, internet and atms. It is a multichannel and multidimensional platform that make the payments possible within fraction of seconds with all the standards and integrity maintained for security required for even high worth transactions.

Sender & Receiver

- Have to register for Mobile Banking & get a unique ID called "MMID"
  • Generation of MMID is a One-time process.
  • Remitter (Sender) transfer funds to beneficiary (Receiver) using Mobile no. & 7digit MMID of beneficiary.

Additional information's:

MMID - Mobile Money Identifier (7 digit code)
Each MMID is linked to a unique Mobile Number. Different MMIDs can be linked to same Mobile Number

Using Account number & IFS Code (P2A)

Presently, IMPS Person-to-Person (P2P) funds transfer requires the Remitter customer to make funds transfer using Beneficiary Mobile Number and MMID. Both Remitter as well as Beneficiary needs to register their mobile number with their respective bank account and get MMID, in order to send or receive funds using IMPS.

There may be cases where Remitter is enabled on Mobile Banking, but Beneficiary mobile number is not registered with any bank account. In such cases, Remitter shall not be able to send money to the Beneficiary using Mobile Number & MMID.

Hence on the merit of the feedback received from the banking community as well as to cater the above mentioned need, the IMPS funds transfer has been made possible using Beneficiary account number and IFS code as well, in addition to Beneficiary mobile number and MMID.

Additional information's:

IFS Code - 11 digit alphanumeric number, available in the users Cheque book.
Using Aadhaar number (ABRS)

In ABRS, a remitter can initiate IMPS transaction using the beneficiary's AADHAAR number, which acts as a financial address & which will be linked to the beneficiaries account number. ABRS facilitates in simplifying the IMPS payment initiation process as in this service the customer will have to input only AADHAAR number of the beneficiary for initiating an IMPS transaction. Another important utility of this service will be in disbursal of subsidy payment i.e. Electronic Benefit Transfer (EBT)/ Direct Benefit transfer (DBT) by the Government. ABRS will act as a catalyst in expanding financial Inclusion reach.

Query Service on Aadhaar Mapper (QSAM)

To facilitate the effective implementation of ABRS, a new feature is being added to the existing NUUP (USSD based platform on *99#) service. Under this new service, known as "Query Service on Aadhaar Mapper" the customer will be able to know : -
  • Whether his/her AADHAAR number is seeded/linked to any bank account number or not?
  • If yes, then with which bank and when was it last updated?

** KEY POINTS to Remember

For transactions initiated using Mobile, transactions will be authenticated using mobile number & MPIN.
Currently, our Bank is offering Funds Transfer under the following products –
  1. Person–to–Person (P2P)
  2. Person–to-Account (P2A).

Delivery Channels for IMPS Funds Transfer.

Following delivery channels has been enabled for IMPS funds Transfer –
  1. SMS Channel .
  2. Internet Banking.
  3. Mobile Banking.

Funds transfer limit – Existing Limits will remain applicable as under -

S.No Particulars Amount (in Rs.)
1. Max. Amount Per Transaction 5,00,000/-
2. Max. Amount Per Day 5,00,000/-
3. No. of Transaction per Day No Limit.
Bank How to Register for mobile banking ? How to get MMID ?
Central Bank To register SMS banking (Mobile) application Visit home branch and submit SMS banking registration form, After 7-8 days collect the MPIN from branch and change it MMID can be generated by using mobile banking application OR Send SMS <MMID> to 9967533228 Response from Bank: Your MMID allotted for the A/c No. XXXXXX1234 is 987654. You can send and Receive Money through IMPS option in Mobile Banking.
S.No. Description Code
6a Generate the MMID for IMPS MMID
6b send the Money through the IMPS IMPS <Beneficiary Mobile No> <Beneficiary MMID> <Amount> <Mpin>
  How to do IMPS (SMS Format)  
  <MMID> to 9967533228  
  Example: IMPS 9988771234 987654 100 1234