A: IMPS can be carried out 24*7 irrespective of the day of the week or time of the day. When you initiate an IMPS transfer, the money is immediately debited from your account and credited to the beneficiary.

Can IMPS be done anytime?

Immediate Payment Service (IMPS) is a real-time electronic fund transfer method through which money is credited immediately to the payee/beneficiary account. IMPS transfers can be done at anytime on a 24/7 basis and on all 365days in a year, including on Sundays and other bank holidays.

When can IMPS be done?

The transfer process can be initiated between 7 a.m. to 6 p.m. and 7 a.m. to 7:45 p.m. for inter-bank transfers. Also, RTGS is specific for transactions worth Rs. 2 lakh and above. In contrast, the upper limit of IMPS transactions is Rs.