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IMPS

FPS

Immediate Payment Service — India's 24/7 interbank electronic fund transfer system operated by NPCI. Predecessor to UPI, providing real-time transfers via mobile, internet, and ATM channels.

NowHours: computing from the published schedule…Service condition: not monitored details

ClearingPost does not assess whether IMPS is running normally.

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Dated items ClearingPost holds, each with its source and whether the date is confirmed

No supported upcoming items in ClearingPost's records for IMPS.

ClearingPost holds sourced upcoming items for 13 of 149 systems; an empty list is a statement about ClearingPost's records, not about a system's plans.

Changed

All recorded changes →

Material, sourced changes ClearingPost recorded; corrections to its own record are labelled as such

  • Data update
    IMPS average daily transactions decreased to ~11.61M/day (August 2026) · IMPS average daily value decreased to ~₹22,701 crore/day (~$2.7B) (August 2026)
    recorded 13 Sep 2026 · NPCI IMPS Product Statistics – August 2026
  • Data updateIMPS participant count increased to 979 members (banks & PPIs, Aug 2026)
    978 members (banks & PPIs, Jun 2026) changed to 979 members (banks & PPIs, Aug 2026)
    recorded 24 Aug 2026 · IMPS (Immediate Payment Service) – Instant fund transfersource ↗
  • Data update
    IMPS average daily transactions increased to ~11.75M/day (July 2026) · IMPS average daily value increased to ~₹22,958 crore/day (~$2.7B) (July 2026)
    recorded 3 Aug 2026 · Business Standard

Sources No status page recorded · 5 of 14 fields carry a source and a recorded date · latest sourced entry recorded 12 Nov 2026 · evidence details ↓

Record · IMPS

Country
India (IN)
Currency
Indian Rupee (INR)
Operator
NPCI
Type
FPS
Operating Window
24/7/365
Year Established
2010
Tier?
Tier 2
ISO 20022?
Legacy
Region
Asia-Pacific
Settlement Type?
Net
Participants
979 members (banks & PPIs, Aug 2026)
Avg Daily Transactions
~11.61M/day (August 2026)
Avg Daily Value
~₹22,701 crore/day (~$2.7B) (August 2026)
Availability
24/7/365
Notes

October broke the pattern of the past year, in which the IMPS count fell month on month: both the count and the value rose on September, and the value rose faster, so the average IMPS ticket kept climbing. Year on year the count is lower while the value is higher, consistent with small retail transfers migrating to UPI while IMPS retains larger-value transfers. NPCI does not publish IMPS daily averages; the daily figures in this record are taken from press reporting of NPCI's monthly release. The October 2026 IMPS daily averages come from press reporting of NPCI's monthly release, published 2 November 2026, which describes them as last month's rather than naming October, so the reporting month is inferred rather than source-declared. Two outlets carry the figures but both appear to derive from the same wire report, so they are syndication rather than independent corroboration. The Reserve Bank's own Payment System Indicators table for October 2026 had not been published as of 11 November 2026, the latest RBI table covering September 2026.

NPCI official website →
See all FPS systems →See all systems in India →ISO 20022 migration status →Payment rails by country →
Other systems in the same country or region
BOJ-NETRTGS
Japan · JPY · Bank of Japan
ZenginACH
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HVPS (CNAPS)RTGS
China · CNY · CNCC (China National Clearing Center) / PBoC
CIPSHybrid
China · CNY · CIPS Co.
BEPS (CNAPS)ACH
China · CNY · CNCC (China National Clearing Center) / PBoC
IBPSFPS
China · CNY · CNCC (China National Clearing Center) / PBoC

Operations · IMPS

Operational monitoring: not configured. ClearingPost does not monitor operational sources for this system and does not assess its current service condition.

Operations lists the systems ClearingPost monitors and the operational events it has recorded.

Intelligence for IMPS (5)

Coverage whose headline or summary names IMPS, or names its operator or country together with its system type. Each item quotes that evidence and says whether the source is the IMPS operator or external.

NewsNov 2, 2026Summary names “IMPS”
UPI Averaged Rs 1,01,707 Crore a Day in October, Its First Month Above Rs 1 Lakh Crore
Value cleared in the month totalled Rs 31.53 lakh crore across India's leading retail rail. IMPS, the older NPCI instant rail, handled 375 million transactions in the same month, 7 per cent fewer than a year earlier.
External source · Elets BFSI
NewsSep 5, 2026Headline names “IMPS”
IMPS Value Rises 18 Percent to Rs 7.04 Lakh Crore in August
NPCI's monthly release put the older instant rail at 11.61 million transactions a day last month. Average daily value on IMPS came to Rs 22,701 crore.
External source · IANS
AnalysisMay 28, 2026Headline names “IMPS”
IMPS Grows 13 Percent as Transaction Size Runs 15 Times UPI Average
IMPS counts 969 participating institutions including banks and prepaid payment instrument issuers as of March 2026. The standard IMPS per-transaction ceiling stands at Rs 5 lakh, five times UPI's Rs 1 lakh P2P cap.
Operator source · NPCI
NewsApr 17, 2026Headline names “IMPS”
RBI Proposes One-Hour Delay on UPI and IMPS Transfers Above ₹10,000 to Combat Fraud
India's central bank proposes a mandatory cooling-off window for high-value UPI and IMPS person-to-person payments, responding to a more than fortyfold increase in digital payment fraud losses between 2021 and 2025.
External source · The Logical Indian
NewsApr 2, 2026Summary names “IMPS”
SBI Year-End Maintenance Triggers Widespread UPI Outage on First Day of New Financial Year
State Bank of India's annual closing maintenance reshaped UPI, IMPS, and internet banking services across India on April 1, coinciding with the activation of the RBI's mandatory two-factor authentication framework.
External source · State Bank of India (Official)

Wider coverage that mentions IMPS (7)

These articles mention IMPS in their text but not in their headline or summary, so they are listed as context rather than as IMPS intelligence.

AnalysisOct 17, 2026Text mentions “IMPS”
RTGS Settled Rs 235.71 Lakh Crore in September as NEFT Moved Rs 46.75 Lakh Crore
India's September payment data separates the country's interbank rails by ticket size. The average RTGS payment worked out near Rs 72 lakh, roughly 130 times the NEFT equivalent and nearly 6,000 times a typical UPI transfer. UPI's daily average climbed to 802.3 million transactions in September. Its monthly count fell 1.8 percent from August.
External source · PSU Watch
RegulationJun 25, 2026Text mentions “IMPS”
RBI Consolidates Payment System Authorisation Rules Under New Master Directions
The framework introduces perpetual validity for PSO authorisations. Operators meeting regulatory requirements and free of supervisory concerns will receive perpetually valid licences.
External source · Reserve Bank of India
AnalysisJun 10, 2026Text mentions “IMPS”
NEFT Crosses 10 Billion Annual Transactions in CY2025 as Average Ticket Size Falls 34 Percent
Reserve Bank of India data shows NEFT processed 1,000 crore transactions worth Rs 482 lakh crore in CY2025, a 27.4 percent volume CAGR from CY2021. Average transaction size declined from Rs 72,895 to Rs 48,200 over the period, indicating expansion into automated batch payment use cases rather than migration toward higher-value transfers.
External source · Manorama Yearbook
NewsJun 8, 2026Text mentions “IMPS”
UPI Posts Record 23.20 Billion Transactions in May 2026
May 2026 set new all-time records for both UPI transaction volume and value, as year-on-year growth reached 24 percent by transaction count.
Operator source · NPCI
RegulationMar 28, 2026Text mentions “IMPS”
RBI Publishes Payments Vision 2028 with Fifteen Reform Initiatives
RBI's Payments Vision 2028 proposes fifteen initiatives through December 2028, including the Payments Switching Service for bank migration, switch-on/off controls for all digital payments, shared liability for unauthorized transactions, electronic cheques, and a Cyber KRI framework for non-bank payment system operators.
External source · DD News / All India Radio
RegulationMar 26, 2026Text mentions “IMPS”
RBI Two-Factor Authentication Mandate Takes Effect April 1, Reshaping Digital Payment Security Across India
The framework introduces risk-based verification across all domestic digital payment channels and expands approved authentication factors beyond SMS OTPs to include biometrics, device binding, and cryptographic keys. Compliance is required for domestic transactions by April 1 and for cross-border card-not-present transactions by October 1, 2026.
External source · Business Standard
RegulationMar 20, 2026Text mentions “IMPS”
RBI Constitutes Payments Regulatory Board Under New PRB Regulations
India's central bank has established a six-member Payments Regulatory Board chaired by Governor Sanjay Malhotra, replacing the former oversight body and marking a structural shift in payment system governance as digital transaction volumes continue to surge.
External source · nasscom Community - RBI Constitutes PRB
Not listed here: 8 tagged articles that do not mention IMPS. All coverage is in Insights.