IMPS Full Form, Meaning, Limit and How It Works
Independent guide. We are not part of NPCI, RBI or any bank, and we never ask for your account details, PIN or OTP.
IMPS stands for Immediate Payment Service. It is an instant bank-to-bank transfer run by NPCI that works 24×7, including bank holidays. You can send up to ₹5 lakh per transaction using the receiver's account number and IFSC, or mobile number and MMID. A sent IMPS payment cannot be cancelled.
- Full form
- Immediate Payment Service
- Run by
- NPCI
- Started
- 22 Nov 2010
- Timings
- 24×7; some banks pause briefly around midnight
- Holidays
- None, works on bank holidays
- Credit time
- Usually within seconds
- Limit
- ₹5 lakh per transaction
- Charges
- Set by your bank; often free online
How does IMPS work?
Your bank sends the money through NPCI's IMPS system to the receiver's bank, which credits it instantly.
What details do you need?
- You need: the receiver's name, account number and IFSC. Find any branch's IFSC on our IFSC finder.
- The receiver needs: nothing extra. No registration is needed to receive money this way.
- You need: the receiver's mobile number and 7-digit MMID, plus mobile banking and an MPIN.
- The receiver needs: mobile banking registration and an MMID from their bank. Each account has its own MMID.
How to send money by IMPS
You can also send IMPS from an ATM with your debit card, or at a bank branch, without registering. SMS and IVR channels have lower limits.
Timings, holidays, limit and charges
- Timings: NPCI runs IMPS 24 hours a day, 365 days a year. But your bank's side can be briefly unavailable:
- Around midnight: in our experience, some banks' IMPS stops for a short time around 12 am every day, even when the bank's website says 24×7.
- Scheduled maintenance: banks announce longer pauses, usually late at night, on their website or app (for example, Federal Bank notifications).
- Holidays: none. IMPS works on Sundays, second and fourth Saturdays, and all bank holidays.
- Limit: ₹5 lakh per transaction, except SMS and IVR. Your bank may set a lower limit.
- Charges: NPCI leaves charges to each bank. Many banks offer free online IMPS for individuals. Where a fee applies (at a branch, for some account types or for business customers), it usually starts at ₹2 + GST and rises with the amount.
Example: SBI's IMPS charges
| Amount | Online (net banking, YONO), individuals, from 15 Feb 2026 | At a branch | Online, corporate customers* |
|---|---|---|---|
| Up to ₹1,000 | Free | Free | Free |
| ₹1,001 – ₹10,000 | Free | ₹2 + GST | Free |
| ₹10,001 – ₹25,000 | Free | ₹4 + GST | Free |
| ₹25,001 – ₹1 lakh | ₹2 + GST | ₹4 + GST | ₹2 + GST |
| ₹1 lakh – ₹2 lakh | ₹6 + GST | ₹12 + GST | ₹6 + GST |
| ₹2 lakh – ₹5 lakh | ₹10 + GST | ₹20 + GST | ₹10 + GST |
Source: SBI notice on IMPS charges from 15 Feb 2026 and SBI IMPS service charges. *YONO Business and corporate internet banking, from 8 Sep 2025; waived for some current account types. Online charges for individuals apply from 15 Feb 2026 and are waived for SBI salary package accounts. Other banks set their own charges, so check your bank's schedule of charges.
How long does IMPS take to credit money?
Usually a few seconds. NPCI describes IMPS as instant, and banks credit the receiver's account immediately. Both of you get an SMS.
Occasionally the receiver's bank does not confirm in time and the status shows pending. The money is then either credited or returned to you, at the latest by the next day (T+1) under RBI rules. Don't send the same payment again while it is pending.
How to read an IMPS reference number
Every IMPS transfer gets a 12-digit reference number, also called RRN. Your bank statement may show it after a prefix, for example IMPS-OPM/630317550496. The digits record when the transfer was made:
| Digits | Meaning | In 630317550496 |
|---|---|---|
| 1st | Last digit of the year | 6 → 2026 |
| 2nd–4th | Day of the year (001–366) | 303 → 30 October |
| 5th–6th | Hour, in IST (00–23) | 17 → 5 pm to 6 pm |
| 7th–12th | Serial number of the transaction | 550496 |
This layout is described in bank payment-system documentation (Oracle Banking Payments – India IMPS). The serial is unique only within a day, so quote the full number, date and amount when you contact your bank.
UPI is different: UPI reference numbers also have 12 digits, but in our experience they don't follow this date layout, so this reader can't date them.
IMPS vs NEFT vs RTGS vs UPI
| IMPS | NEFT | RTGS | UPI | |
|---|---|---|---|---|
| Run by | NPCI | RBI | RBI | NPCI |
| Speed | Instant | Half-hourly batches | Real time | Instant |
| Amount | Up to ₹5 lakh | No RBI limit | Minimum ₹2 lakh | Set by NPCI and banks |
| You enter | Account + IFSC, or mobile + MMID | Account + IFSC | Account + IFSC | UPI ID, QR or mobile |
| Best for | Urgent payments up to ₹5 lakh | Non-urgent payments | Large urgent payments | Everyday phone payments |
All four work 24×7.
Where is IMPS used?
Family transfers
A father sends ₹8,000 to his daughter's hostel account at 11 pm on a Sunday.
Emergencies
A family sends ₹50,000 at night for a relative's hospital admission.
Rent and bills
A tenant pays rent on a bank holiday so it is not late.
Business payments
A trader pays a wholesaler ₹1.2 lakh so goods are dispatched the same evening.
Wallets
RBI-authorised wallet companies (PPIs) can send money to bank accounts through IMPS.
Money from abroad
The Indian leg of a remittance from abroad can be credited by IMPS in real time.
Residents and NRIs
- Send from any IMPS-enabled bank account or RBI-authorised wallet.
- Changed your mobile number? Update it with your bank. Changing only your telecom operator needs nothing.
- Money sent to India through an exchange house abroad can be credited to the Indian account by IMPS. The IMPS leg is instant; the total time depends on the exchange house.
- It can be credited to an NRE account.
- IMPS cannot send money out of India.
If something goes wrong
| Problem | What happens / what to do |
|---|---|
| Money debited, receiver didn't get it | The receiver's bank must reverse it by the next calendar day (T+1). If late, your bank must pay you ₹100 per day, without you asking. If not resolved, complain to your bank, then to the RBI Ombudsman on the RBI complaint portal. |
| Sent to the wrong account | IMPS cannot be cancelled. Contact your bank at once with the reference number. |
| Tricked by a fraudster | Call 1930 or report on the National Cybercrime Reporting Portal, and inform your bank. |
Never share your OTP, MPIN, card details or banking password with anyone, including callers claiming to be from your bank.
History of IMPS
Before IMPS, money moved between banks mainly through NEFT and RTGS, and only in banking hours. NPCI built IMPS for instant, round-the-clock transfers using mobile phones.
NPCI pilots IMPS with SBI, Bank of India, Union Bank of India and ICICI Bank.
Public launch in Mumbai by Smt. Shyamala Gopinath, then Deputy Governor of RBI.
Limit set at ₹2 lakh per transaction.
RBI rules start: failed IMPS money reversed by T+1, ₹100 a day for delay.
RBI raises the limit to ₹5 lakh per transaction.
Over 1,000 banks and wallet companies offer IMPS; UPI is built on it.
FAQs
How long does IMPS take?
Usually a few seconds. If the status shows pending, the money is credited or returned by the next day at the latest.
Can I cancel an IMPS transfer?
No. NPCI says an IMPS payment cannot be stopped or cancelled once you start it.
Does the receiver need to register for IMPS?
Not if you pay by account number and IFSC. To receive by mobile number and MMID, the receiver must register for mobile banking.
Are there charges for IMPS?
Each bank or wallet company decides its own charges. For example, SBI charges individuals nothing for online IMPS up to ₹25,000 and ₹2 to ₹10 plus GST above that (from 15 Feb 2026), while IMPS at an SBI branch costs ₹2 to ₹20 plus GST depending on the amount.
Is IMPS the same as UPI?
No. Both are run by NPCI and UPI is built on IMPS infrastructure, but IMPS uses account number and IFSC or mobile number and MMID, while UPI uses a UPI ID, QR code or mobile number.
Can I send money abroad with IMPS?
No. IMPS can only be used for the Indian leg of money coming into India, not for sending money out of India.
Official sources
- NPCI – About IMPS (accessed 30 Oct 2026)
- NPCI – IMPS FAQs (accessed 30 Oct 2026)
- RBI – Turn Around Time and compensation for failed transactions (20 Sep 2019) (accessed 30 Oct 2026)
- RBI – Enhancing IMPS limit to ₹5 lakh (8 Oct 2021) (accessed 30 Oct 2026)
- RBI – NEFT FAQs (accessed 30 Oct 2026)
- RBI – RTGS FAQs (accessed 30 Oct 2026)
- NPCI – UPI (accessed 30 Oct 2026)
- Oracle Banking Payments – India IMPS user guide (RRN format) (accessed 30 Oct 2026)
- SBI – Revised IMPS transaction charges on or after 15 Feb 2026 (individuals) (accessed 1 Nov 2026)
- SBI – Revised IMPS transaction charges (from 8 Sep 2025) (accessed 30 Oct 2026)
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