"Our two RRBs extensively use information and communications technology (ICT) to provide multiple products and services to around 12 million customers, whose accounts are connected to the system through the core banking solution," Canara Bank executive director Pradyman Singh Rawat said.

The RRBs will use posters, leaflets and visuals to create awareness about the instant service among their customers, especially farmers and traders, train them to download the specific application and adopt it to transfer money to the intended recipients.

"Details of account holders are connected to our data centres in Mumbai and Chennai for allowing payment transfers at a nominal service fee of 50 paise," NPCI chief executive A.P. Hota told IANS on the margins of the launch event.

Two RRBs at Benares and Lucknow in Uttar Pradesh and one RRB at Aurangabad in Marthwada region of Maharashtra started providing the immediate payment service through Union Bank of India, Bank of Baroda and Bank of Maharashtra.

Unlike real-time gross settlement (RTGS) and national electronic fund transfer (NEFT), which operate from 8 a.m. to 7 p.m. on working days, the immediate payment service will be available throughout the year anywhere, anytime.

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