Union Bank of India has become the first bank to provide IMPS at its branches for retail and corporate customers. The bank has integrated the IMPS platform with its CBS. The facility will allow its customers to instantly transfer funds up to Rs 2 lakh per day to any account from the branches. Arun Tiwari, CMD of the bank, said digital transformation is going to change the dynamics of banking in near future and digital banking shall replace branch banking and the bank will always be ahead to foray into any venture which brings in technological convenience to customers. The bank has also introduced digital passbook, which enables customers to view account statement on mobiles.
