IMPS is an abbreviation for instant payment service. It is maintained by National Payments Corporation of India (NPCI), and is built upon the existing National Financial Switch network, and started on 22 November 2010. This allows you to authenticate your bank account and transfer funds instantly and securely. You can send money using Net-banking to an Internet-powered laptop or PC. This enables you to transfer funds from your account to any account. When a fund transfer is requested on your behalf, the beneficiary account is immediately credited.