What changed
Previously, RTGS messages could be sent without a beneficiary account number or with the number in an incorrect field. Now, the RTGS PI software has been modified to block any R41 message that does not have the beneficiary account number in line 1 of field tag 5561. This field must be alphanumeric with no special characters or spaces.
What it means for you
Banks must ensure their RTGS systems are patched to enforce this rule, preventing incomplete or incorrectly formatted transactions. This will reduce manual interventions and improve processing efficiency, but requires immediate IT action to avoid disruptions.
What you must do
- Apply the patch provided by RBI's Department of Information Technology to your RTGS PI software immediately.
- Verify that all outgoing RTGS messages include a valid beneficiary account number in the correct field.
- Train operations staff on the new requirement to prevent rejected transactions.
- Test the patched system to ensure compliance before full deployment.
Who it affects
All banks participating in RTGS, RTGS operations teams, IT departments managing payment systems
What happens if we send an RTGS message without a beneficiary account number?
The modified RTGS PI software will block the message from being originated. You must include the account number in line 1 of field tag 5561.
Can we use special characters or spaces in the beneficiary account number field?
No, the field must be alphanumeric and cannot contain special characters or spaces.
When was this change implemented?
The circular was issued on November 11, 2009, and banks were advised to apply the patch immediately.