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Tuesday, 1 February 2022

Session 8 = Knowledge Question Answer for ISO20022 -Phase1 21 to 30

Session 8 = Knowledge Question Answer for ISO20022 -Phase1 21 to 30 



21. What is CreationDateTime and how it is different from the CreationDate defined in BAH? 

CreationDateTime is the mandatory filed containing date and time at which this message was created and the CreationDate is the date and time at which the message header is created. The format of the date time is same throughout the message. . 

22. How the field NumberOfTransactions is defined? 

It provides the number of individual transactions contained in the message. The default value is 1 for Pacs.008 and Pacs.009 messages and ten(10) or more for NEFT. In some situations, viz. at the end of the batch or end of day, the number of NEFT transactions can be less than 10. In MNSB request this is defined as the number of participants in the batch. The datatype is numeric. It is a mandatory field. 

23. What the field TotalInterbankSettlementAmount used for?

This mandatory field gives the total amount of money moved between the instructing bank and the instructed bank. Data Type: ActiveCurrencyAndAmount This data type must be used with the following XML Attribute: Currency (Ccy) which is typed by ActiveCurrencyCode. Format: Amount MinInclusive 0 TotalDigits 18 fractionDigits 2 Maximum digits = 18. Decimal mark excluded from count. Note: The decimal separator is a dot. ActiveCurrencyCode ActiveCurrency

The currency code must be a valid active currency code of three (3) contiguous letters. For Indian Rupee the active currency code is INR Example: 2345 

24. What is InterbankSettlementDate ?

It is a mandatory field providing the settlement date. Data Type: ISODate 

25. How SettlementInformation is defined?

 This is a mandatory element defined as: Definition: Specifies the details on how the settlement of the transaction(s) between the instructing bank and the instructed bank is completed. 

26. How to define SettlementMethod

It is the method used to settle the (batch of) payment instructions with Data Type: Code It is a mandatory field. One of the following SettlementMethod1Code values must be used:

Code Name Definition

CLRG ClearingSystem Settlement is done through a payment clearing system. 

COVE CoverMethod Settlement is done through a cover payment.

INDA InstructedAgent Settlement is done by the agent instructed to execute a payment instruction. 

INGA InstructingAgent Settlement is done by the agent instructing and forwarding the payment to the next party in the payment chain.

27. How to interpret InstructingAgent? 

It is the agent that instructs the next party in the chain to carry out the (set of) instruction(s). It is mandatory in RTGS implementation 

28. What is FinancialInstitutionIdentification field used for? 

This is a mandatory field which provides the identification of the Financial Institute referred to. 

29. What details to be entered in ClearingSystemMemberIdentification field?

This mandatory field is used to enter the details of the participating bank. The mandatory sub-field MemberIdentification is used to provide IFSC of the concern participant. In case of InstructingAgent this field contains the IFSC of sending bank, while for the InstructedAgent this field contain the IFSC of the receiving bank. 

30. What is InstructedAgent? 

This mandatory field gives information about agent that is instructed by the previous party in the chain to carry out the (set of) instruction(s). It is defined by using FinancialInstitutionIdentification- ClearingSystemMemberIdentification- MemberIdentification. It is mandatory in RTGS implementation. In case of Own Account Transfer this field provides the RBI IFSC. 

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