Union Bank of India launched IMPS at branches and M-passbooks for its customers.

Taking a step towards digitization, Union Bank of India launched a slew of initiatives such as IMPS at branches and M-passbooks for its customers. The Bank has become the first lender to launch immediate payment service (IMPS) through branches for its retail and Corporate customers by integrating the platform to its core banking solution. This will allow customers to instantly transfer funds to any account fro the branch. The limit has been set up to Rs 2 lakh per day. The digital passbook or M-passbook feature will enable customers to view account statement on mobile.