IMPS Transfers using Mobile Number to be enabled by NPCI from Feb 1

IMPS transaction using mobile number and bank name to be enabled by NPCI from February 1, 2024 onwards

By Manu Sharma - On January 30, 2024 1:26 pm - 2 mins read

IMPS - NPCI - Mobile Payment System - TAXSCAN

In a significant move towards simplifying and enhancing the Instant Mobile Payment System (IMPS), the National Payments Corporation of India (NPCI) has issued a directive to its member banks. This directive, referenced as NPCI/IMPS/OC No. 18/2013-14 dated July 24, 2013, emphasizes the adoption of “Mobile Number + Bank Name” based transactions to facilitate easy and…

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