..........The instant money transfer will be done by using the Immediate Payment Services (IMPS), a unique remittance processing platform offered by the National Payment Corporation of India. “Through this tie-up, money can be transferred instantly by a Xoom user from the US to not only bank accounts held in Punjab National Bank but to any bank account in India,” KR Kamath, Chairman & Managing Director, PNB, said at a press conference here. At present, IMPS has 63 banks (in India) as part of its ecosystem..........
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