Session15- ISO20022 standard Message Implementation Knowledge Question Answer Phase1–30 to 4 Question

Session15- ISO20022 standard Message Implementation Knowledge Question Answer Phase1–30 to 33 Question

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. The value for this Field tag ‘InstructedAgent’ should be the IFSC code of the Head office of the Receiving Bank. 31. How to use the field CreditTransferTransactionInformation ? It is mandatory and is a set of elements providing information on individual transactions. Only one occurrence allowed for Customer Payment in RTGS system and 10 or more for NEFT. In case of Pacs.009 used for MNSB request multipal occurrence based on number of participants is allowed. The elements are: PaymentIdentification , PaymentTypeInformation , ChargesInformation , Debtor , DebtorAccount, , DebtorAgent , Purpose , ……., RemittanceInformation .

31. How to use the field CreditTransferTransactionInformation ? 

It is mandatory and is a set of elements providing information on individual transactions. Only one occurrence allowed for Customer Payment in RTGS system and 10 or more for NEFT. In case of Pacs.009 used for MNSB request multipal occurrence based on number of participants is allowed. The elements are: PaymentIdentification , PaymentTypeInformation , ChargesInformation , Debtor , DebtorAccount, , DebtorAgent , Purpose , ……., RemittanceInformation .

32. How to use PaymentIdentification field? 

It is a mandatory field giving set of elements used to reference a payment instruction. Type: This message item is composed of the following PaymentIdentification element(s):

i) InstructionIdentification Presence: [0..1] Definition: Unique identification, as assigned by an instructing party for an instructed party, to unambiguously identify the instruction. Usage: The instruction identification is a point to point reference that can be used between the instructing party and the instructed party to refer to the individual instruction. It can be included in several messages related to the instruction. Data Type: Max35Text Format: maxLength: 35 minLength: 1 During the transition of existing member systems to the new ISO message formats, it is used for supplementary identification, such as the legacy transaction reference number (R41/R42.2020). 

ii) EndToEndIdentification Presence: [1..1] Definition: Unique identification, as assigned by the initiating party, to unambiguously identify the transaction. This identification is passed on, unchanged, throughout the entire end-to-end chain. Usage: The end-to-end identification can be used for reconciliation or to link tasks relating to the transaction. It can be included in several messages related to the transaction. Usage: In case there are technical limitations to pass on multiple references, the end-to-end identification must be passed on throughout the entire end-to-end chain. During the transition of existing member systems to the new ISO message formats, the EndToEndId should follow the 16 digits UTR pattern of the existing RTGS system, identified with the 6 character codeword prefix “/XUTR/”. The existing UTR format is:  Participant System ID (First four Characters of sending Bank’s IFSC Code)  Service Tag (One Character) Example : “H” for host  Unique-ID comprising of Date (Julian date YYDDD) & Sequence Number (6 digits numeric)

iii) TransactionIdentification This is a mandatory field. Definition: Unique identification, as assigned by the first instructing agent, to unambiguously identify the transaction that is passed on, unchanged, throughout the entire interbank chain. Usage: The transaction identification can be used for reconciliation, tracking or to link tasks relating to the transaction on the interbank level. Usage: The instructing agent has to make sure that the transaction identification is unique for a pre-agreed period. Data Type: Max35Text Format: maxLength: 35 minLength: 1 In our case it is the Unique Transaction Reference (UTR) which would be of 22 characters Format is: XXXX- Sender IFSC [4] X-Payment System [1] X-Channel [1] YYYYMMDD-Date [8] nnnnnnnn- Sequence Number [8] Codes for Payment System (X) are: R->RTGS N->NEFT A-> ACH The Channel Identifier (X) may be used to identify channels such as Internet banking, Cash Management, Treasury, ATM, etc.

Channel ID Values NG-RTGS 9 Internet Banking 1 Cash 2

Management Treasury 3 ATM 4 Other 5