BI India
Over 4.6 billion transactions worth ₹37,06,363 crore were carried out through IMPS in the financial year 2022. Meanwhile, 3.2 billion transactions worth ₹29,41,495 crore were carried out through IMPS in the previous year.
Immediate Payment Services, or IMPS, is an instant interbank electronic fund transfer service through mobile phone. One can access IMPS through multiple channels like mobile banking, SMS, net banking and even ATM. While there is no cap on the minimum transfer amount, the maximum amount you can transfer per day through IMPS is ₹200,000.
The highest IMPS transactions through IMPS were in December 2021, when ₹3,96,411 crore were transferred through 442 transactions.