RBI / 2013 – 14/575 DPSS (CO) RTGS
No. 2232/04.04.002/2013
– 2014
USAGE OF TRANSACTION TYPE CODE (TTC) IN
RTGS
We invite a reference to the RTGS System Regulations 2013,
detailing the guidelines for RTGS transactions.
2. In terms of para 6.4 of RTGS System Regulations 2013, different
Transaction Type Code (TTC) Values are prescribed for different types of RTGS
transactions. For example, TTC Value “1000” is allotted for customer
transactions and TTC Value “1800” is allotted for Own Account Transfer.
3. It has been brought to our notice that some of the RTGS
participants are initiating Own Account Transfers (OAT) from RTGS settlement
account to their current account maintained with RBI using the customer
transaction code, i.e., using the TTC value “1000” allotted for customer
transactions instead of “1800” allotted for OAT. The usage of wrong TTC value
for transaction in RTGS leads to unintended consequences.
4. All RTGS participants are, therefore, advised to strictly
adhere to the RTGS System Regulations 2013 and use appropriate TTC Value while
originating RTGS transactions.
5. This Circular is issued under Section 10 (2) of Payment and
Settlement Systems Act, 2007.
6. Please acknowledge receipt of the circular.
Yours faithfully,
(Vijay Chugh)Chief General Manager