Which Indian bank has recently launched an Instant Money Transfer (IMT) payment system on its ATMs in India?
[A]Punjab National Bank
[B]Central Bank of India
[C]State Bank of India
State Bank of India
The State Bank of India (SBI) has recently launched an Instant Money Transfer (IMT) payment system on its ATMs in India. The system will enable a payment up to Rs.10000 from any SBI bank account to a person using just his/her mobile number as the identifier. The recipient of this payment can withdraw funds instantly from an IMT-enabled ATM of SBI without using a debit card. IMT is a payment system launched in India by Empays Payment Systems. It enables a payment to be made to a mobile phone from a bank account. There is no requirement for the beneficiary to have a bank account. The receiver can obtain the funds immediately from any IMT-enabled ATM.