IMPS stands for Immediate Payment Service, NPCI's instant, 24x7 transfer between banks, which you can send from mobile banking, internet banking, a branch, an ATM or by SMS. An IMPS line on your statement is a transfer that reached the other bank in real time.
The reference number
On the statements Fynora has read, an IMPS line carries a 12-digit reference number. It is what your bank asks for if you need to trace the transfer.
MMT
Some banks print MMT, mobile money transfer, for an IMPS transfer sent from a phone.
IMPS, NEFT and RTGS in one line each
IMPS (Immediate Payment Service): NPCI's instant transfer between banks, 24x7.
NEFT (National Electronic Funds Transfer): the RBI's bank-to-bank transfer system, available round the clock on all days.
RTGS (Real Time Gross Settlement): for ₹2,00,000 and above, available 24x7 since December 14, 2020.
Example lines
Made-up lines in the usual shape. Your bank's wording will differ.
IMPS/P2A/100000000001/EXAMPLE PAYEEAn IMPS transfer to an account number (P2A: person to account).MMT/IMPS/100000000002/EXAMPLE PAYEEThe same kind of transfer, printed as MMT.
How Fynora reads it
When IMPS, NEFT, RTGS, MMT or TPT starts a line on a bank account statement you import, Fynora counts the payment as "Bank transfer" in the How you paid section of Reports.
Questions
Does IMPS work on weekends and holidays?
Yes. NPCI describes IMPS as an instant interbank transfer available 24x7, all year.