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Which of the following are NOT necessary for IMPS transactions?

Asked on by | Votes 0 | Views: 32 | Tags: banking financial awareness     | financial awareness     | Add Bounty

Which of the following are NOT necessary for IMPS transactions?
1). MICR Code
2). IFSC Code
3). Name of the account holder
4). Both 1) and 3)


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1 answers

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Answered by on | Votes 1 |
IMPS stands for Immediate Payment Service. Started in 2010, it is a 24x7 facility available to all bank account holders. In order to transfer money through IMPS, account number of the receiver and IFSC Code are required.

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