Daily Transfer Limit from 2 Lakhs to 5 Lakhs with IMPS
Recently Reserve Bank of India has made a decision to change the transfer limit of money through IMPS from 2 Lakhs to 5 Lakhs.
IMPS is an immediate Payment System which allows the transfer of money between different banks of India economically and safer.
With IMPS an account holder could transfer amount 24×7 at any time. One can use mobile banking, bank branch, ATM, SMS etc. to do IMPS transaction.
Earlier there was a limit of transferring at maximum 2 lakhs only at a time but with latest announcement by RBI, the limit has been changed to 5 lakhs.
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