An instant real-time inter-bank electronic funds transfer system, which offers an inter- bank electronic fund transfer service through mobile phones known as

IMPS provides robust and real-time fund transfer which is available across banks. It allows bank customers to transfer funds instantly to accounts in other banks across India through mobile, internet, and ATM channels. The description provided specifically highlights the "instant real-time inter-bank electronic funds transfer system" capability often accessed "through mobile phones", which is a core feature of IMPS.