RBI raises daily transaction limit for IMPS from 2 to 5 lakh

[Navjot Singh]

IMPS daily transaction limit increased to ₹5 lakh from ₹2 lakh, says RBI

IMPS is an instant interbank electronic fund transfer service which can be accessed through mobile phones, internet banking, bank branches, ATMs, SMS and IVRS. IMPS is an important payment system providing 24x7 instant domestic funds transfer facility.

www.hindustantimes.com

The Reserve Bank of India (RBI) on Friday said that the limit to transfer money under Immediate Payment Service (IMPS) has been increased from ₹2 lakh to ₹5 lakh. The announcement was made by RBI governor Shaktikanta Das at a press briefing on the monetary policy committee outcomes.

The per-transaction limit for SMS and IVRS channels is ₹5000.

 

[Sushubh]

IMPS new money transfer rules: Soon, send up to Rs 5 lakh with mobile no. & bank name; add beneficiary, IFSC, account not needed - Times of India

India Business News: New IMPS system aims to enhance the ease and accuracy of financial transactions. To understand how this revamped IMPS will operate and what happens wh

timesofindia.indiatimes.com

 

[Navjot Singh]

Fraudsters ki chaandi.