wordpress blog stats
Connect with us

Hi, what are you looking for?

IMPS amount transacted decreased by 42% in June 2017

The Immediate Payment Service (IMPS) saw a 1.2% decrease in the total transactions taking place between May and June 2017. There was a slight increase in total number of Mobile Money IDs (MMID), according to data published by the National Payments Corporation of India, which owns and operates IMPS. The NPCI is the bank-owned organization that also runs the Unified Payments Interface (UPI).

The IMPS transaction volumes declined on a monthly basis to 70.21 million ( 70,209,471 transactions) from 71.04 million transactions (71,036,744 transactions) while the amount transacted decreased 42% on a monthly basis to Rs 64,384 crore. The average transaction amount declined by 41.76% on a monthly basis to Rs 9,170 .

Month-wise details

Bank Status

53 commercial banks have signed up for IMPS.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

A survey by the National Payments Corporation of India (NPCI) found that at least 80% of households now use digital payment apps like Paytm,...

News

In an affidavit filed before the Supreme Court, the Reserve Bank of India (RBI) has said that companies like WhatsApp, Google and Amazon have...

News

The Reserve Bank of India (RBI) has constituted an internal working group to recommend regulations for digital lending platforms and mobile applications, it said...

News

While digital payment adoption began to grow significantly post demonetisation, the COVID-19 pandemic accelerated this shift over the last year, according to PwC India’s...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ