Immediate Payment Service

Immediate Payment Service

Operating area	India
Founded	22 November 2010
Owner	National Payments Corporation of India
Website	IMPS

Immediate Payment Service (IMPS) is an instant real-time inter-bank electronic funds transfer system of India. IMPS offers an inter-bank electronic fund transfer service through mobile phones. Unlike NEFT and RTGS, the service is available 24/7 throughout the year including bank holidays.

It is managed by the National Payments Corporation of India (NPCI) and is built upon the existing National Financial Switch network. In 2010, the NPCI initially carried out a pilot for the mobile payment system with 4 member banks (State Bank of India, Bank of India, Union Bank of India and ICICI Bank), and expanded it to include Yes Bank, Axis Bank and HDFC Bank later that year. IMPS was publicly launched on November 22, 2010.

List of participating banks in IMPS

• Allahabad Bank
• Andhra Bank
• Axis Bank
• Adarsh Co-Operative Bank Ltd.
• Bandhan Bank
• Bank of Baroda
• Bank of India
• Bank of Maharashtra
• Bassein Catholic Co-op Bank
• BNP Paribas
• Canara Bank
• Catholic Syrian Bank
• Central Bank of India
• Citibank
• City Union Bank
• Corporation Bank
• Cosmos Co-operative Bank
• Dena Bank
• Development Bank of Singapore
• Development Credit Bank
• Dhanalakshmi Bank
• Dombivli Nagarik Sahakari Bank
• Federal Bank
• HDFC Bank
• HSBC
• ICICI Bank
• IDBI Bank
• Indian Bank
• Indian Overseas Bank
• IndusInd Bank
• ING Vysya Bank
• Jammu & Kashmir Bank
• Janata Sahakari Bank, Pune
• Karnataka Bank
• Karur Vysya Bank
• Kerala Gramin Bank
• Kotak Mahindra Bank
• Lakshmi Vilas Bank
• Mehsana Urban Co-operative Bank
• Nainital Bank
• NKGSB Co-operative Bank
• Oriental Bank of Commerce
• Pragathi Krishna Gramin Bank
• Punjab and Maharashtra Co-op Bank
• Punjab and Sind Bank
• Punjab National Bank
• Rajkot Nagrik Sahkari Bank Ltd
• RBL Bank
• Saraswat Bank
• South Indian Bank
• Standard Chartered Bank
• State Bank of Bikaner and Jaipur
• State Bank of Hyderabad
• State Bank of India
• State Bank of Mysore
• State Bank of Patiala
• State Bank of Travancore
• Syndicate Bank
• Tamilnad Mercantile Bank
• Thane Janata Sahakari Bank
• The A.P Mahesh Urban Co-op Bank
• The Greater Bombay Co-op Bank
• UCO Bank
• Union Bank of India
• United Bank of India
• Vijaya Bank
• Yes Bank

See also

• Payment and settlement systems in India
• National Electronic Fund Transfer
• Real Time Gross Settlement

References

Banking in India
Reserve bank	Reserve Bank of India
Public sector banks	Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Bharatiya Mahila Bank Canara Bank Central Bank of India Corporation Bank Dena Bank IDBI Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Post Bank of India Punjab & Sind Bank Punjab National Bank State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of India State Bank of Mysore State Bank of Patiala State Bank of Travancore Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank
Private sector banks	Axis Bank Bandhan Bank Catholic Syrian Bank City Union Bank DCB Bank Dhanlaxmi Bank Federal Bank HDFC Bank ICICI Bank IDFC Bank IndusInd Bank Jammu & Kashmir Bank Karnataka Bank Karur Vysya Bank Kotak Mahindra Bank Lakshmi Vilas Bank Nainital Bank RBL Bank (Ratnakar Bank) South Indian Bank Tamilnad Mercantile Bank Limited Yes Bank
Cooperative banks	Buldhana Urban Cosmos Bank Repco Bank Saraswat Bank Shamrao Vithal Co-op. Bank TNSC Bank Rajkot Nagrik Sahakari Bank
Foreign banks	ABN AMRO Abu Dhabi Commercial Bank Antwerp Diamond Bank Australia and New Zealand Banking Group Bank Internasional Indonesia Bank of America Bank of Bahrain and Kuwait Bank of Ceylon The Bank of Tokyo-Mitsubishi UFJ Barclays Citibank India Credit Suisse Deutsche Bank HSBC The Royal Bank of Scotland Scotiabank Standard Chartered
Regional Rural Banks	Andhra Pragathi Grameena Bank Kerala Gramin Bank Bangiya Gramin Vikash Bank Gramin Bank of Aryavart North Malabar Gramin Bank Pallavan Grama Bank Pandyan Grama Bank Paschim Banga Gramin Bank Sarva UP Gramin Bank South Malabar Gramin Bank Uttar Bihar Gramin Bank Vananchal Gramin Bank List of regional rural banks in Uttar Pradesh
Interbank networks	BANCS Cashnet Cirrus IMPS UPI MITR NFS PLUS RuPay
Defunct banks	Alliance Bank of Simla Arbuthnot & Co Bank of Bombay Bank of Calcutta Bank of Chettinad Bank of Cochin Bank of Hindostan Bank of Madras Bank of Madura Bank of Rajasthan Bank of Thanjavur Bareilley Corporation Bank Bengal Central Bank Bharat Overseas Bank Centurion Bank of Punjab Chartered Bank of India, Australia and China Commercial Bank of India Dass Bank Exchange Bank of India & Africa Global Trust Bank Grindlays Bank Hindustan Commercial Bank Imperial Bank of India ING Vysya Bank Lakshmi Commercial Bank Lord Krishna Bank Madhavpura Mercantile Cooperative Bank Mercantile Bank of India, London and China Miraj State Bank Nath Bank Nedungadi Bank New Bank of India Oriental Bank Corporation Oudh Commercial Bank Palai Central Bank Pandyan Bank Sikkim Bank State Bank of Indore State Bank of Saurashtra Times Bank United Industrial Bank United Western Bank
Related topics	Banks Board Bureau Banking Codes and Standards Board of India ATM usage fees in India De-Materialisation (DEMAT) Foreign Exchange (FOREX) Indian Financial System Code (IFSC) List of banks in India National Electronic Fund Transfer (NEFT) National Payments Corporation of India Real Time Gross Settlement (RTGS) Structured Financial Messaging System (SFMS) Prepaid Payment Instruments in India