A simple and convenient fund transfer payment service model of commercial banks: A study on IMPS system Mishra Rama Krishna1,*, Assistant Professor-Finance 1Department of Management Studies, Regional College of Management, Chakadola Vihar, Chandrasekharpur, Bhubaneswar-751023, Odisha, India *Email id: ramakrishnamishra@yahoo.com
Abstract A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by providing loans or indirectly through capital markets. A bank links together customers with capital deficits and those with capital surpluses. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. The business process is counted to use the power of computers and communication networks which are known as Internet. This can allow organisations to stay competitive and more efficient. Electronic banking, also known as electronic fund transfer, uses computers and electronic technology as a substitute for checks and other paper transactions. The study intended to establish how value can be created in business management through electronic money transfer systems in commercial banks through the Interbank Mobile Payment Service (IMPS) system. This complements an earlier study on money transfer systems. The researchers recommend an improvement in the efficiency of electronic money transfer systems so as to reap the maximum benefits out of them in IMPS. Top Keywords Payment Service, Fund Transfer, Convenience, Commercial Banks, IMPS, Money, Electronic. Top |