Question : Money transfer through mobile is called_______________.
Option 1: IFSC
Option 2: ATM
Option 3: IMPS
Option 4: IFS
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Correct Answer: IMPS
Solution : The correct answer is IMPS.
In India, money transfer by mobile is commonly referred to as IMPS, which stands for Immediate Payment Service . IMPS is a real-time interbank electronic payment transfer service that allows people to send and receive money using their phones. People in India have found it to be a popular and easy way to conduct immediate payments and financial transactions using their mobile devices.
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