IMPS is the instant payment facility offered by the National Payment Corporation of India (NPCI) NPS subscribers can now deposit their contributions under D-Remit via IMPS facility
New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) has said that NPS subscribers can now deposit their contributions under Direct Remittance (D Remit) through the Immediate Payment System (IMPS). Currently, National Pension System (NPS) subscribers can deposit their contributions under D-Remit only by using NEFT and RTGS.
IMPS is the instant payment facility offered by the National Payment Corporation of India (NPCI).
The Pension Fund Regulatory and Development Authority (PFRDA) circular issued on 10 March said, “The functionality of accepting IMPS has been released from 1 March 2021. However, unlike the contributions received through NEFT/RTGS which are returned on the same day in case of a return, the IMPS contributions in case of a return shall be effected