1. raid is a payment service provided by banks to allow real-time inter-bank fund transfer.

2. It is a service which is available 24X7 including Sundays and Holidays.

3. Generally, the maximum limit prescribed for IMPS is Rs 2 lakh per day.

4. One needs a mobile number and mobile money identifier or bank account and IFSC Code Or Aadhaar To make payment through IMPS.

5. Payment can be made using Internet Banking, Mobile Banking or ATM.

(Content on this page is courtesy of Center for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Aarti Bhargava and Labh Mehta.)