24 Hours Payment System By NPCI

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..... 24 Hours Payment System By NPCI
News and Press Release
Dated:- 27-11-2010

National Payment Corporation of India (NPCI) is providing Interbank Mobile Payment Service (IMPS) with seven ban .....

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..... ks viz, State Bank of India, ICICI Bank, Union Bank of India, Bank of India, Yes Bank, Axis Bank, HDFC Bank. The service allows a customer in one bank to remit funds to an account holder in another ba .....

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..... nk. Mobile phone is used as a service delivery channel of the member banks. For providing this offer, the bank needs to have authorization from Reserve Bank of India and has to be admitted as a member .....

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..... of IMPS. Till 31st March 2011, NPCI will be providing the service to the member banks free of charges. Thereafter switching fee of Rs. 0.25 per transaction will be levied by NPCI to member banks. Mem .....

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..... ber banks may levy a fee on the customers as per the policy formulated by them. However for the present, they have also been providing this service free of charges. This information was given by the .....

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..... Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Lok Sabha today.
News - Press release - PIB .....

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