5000 (around USD100).We have also enabled money transfers from a bank account with cash pay-out to the receiver at an ATM or a Business Correspondent with a cap on the transaction value. 6.
To enhance the efficiency of the mobile banking system, we had approved a unique initiative, the Inter Bank Mobile Payment System (IMPS) which provides a centralized interoperable infrastructure and enables money transfers between customer accounts in different banks through mobile phones in real time.