Current Affairs Today

Andhra Bank launches IMPS for money transfer

Andhra Bank has launched Immediate Payment Service (IMPS) at all its branches across the country to provide inter-bank electronic fund transfer service.

The customer-friendly service was launched by Andhra Bank in association with the National Payments Corporation of India (NPCI).

It also supports real time instant fund transfer system for inter-bank remittances. However the maximum caps of transaction of remittances will 2 lakh rupees and the charges will be at the rate of Rs.5 per transaction.

Immediate Payment Service (IMPS)