LEI Validation
System validates the Beneficiary LEI field value received in the incoming message
when all below listed conditions satisfy as part of Repair Validations
processing step:
- Transaction amount is more than the LEI Threshold Amount maintained in India Payments Common Preferences (PMDNFTPF).
- Beneficiary is a 'Non-Individual' .i.e. Customer Type is not 'Individual'.
The incoming transaction moves to Business Override Queue (BO) when any of the
below Beneficiary LEI validation fails:
- Beneficiary LEI is not available in the incoming message.
- Beneficiary LEI is available in the incoming message but there is no LEI captured at beneficiary customer level (no maintenance).
- Beneficiary LEI is available in the incoming message, but the LEI captured at beneficiary customer level is different from Beneficiary LEI value received.
- Beneficiary LEI is available in the incoming message, but the LEI captured at beneficiary customer level is expired (Expiry Date is less than value date of the transaction).
On Approval from Business Override Queue, the transaction is processed further.
Note:
Beneficiary LEI is validated only for Customer Transfer (pacs.008) message for Incoming RTGS (Only Incoming NEFT / RTGS Customer Transfer in scope).
Since the Beneficiary LEI is received in Line 2 of Sender to Receiver Information field and within '//BL/' & '/', the LEI is extracted and validated.
Parent topic: NEFT Inbound Payment Validations