India RTGS Inbound Payments Validations
The incoming RTGS payments are received as pacs.008.001.03/ pacs.009.001.03 messages from RBI Clearing. Beneficiary bank has to credit the beneficiary's account within 30 minutes of receiving the funds transfer message.
System parses and processes the payments messages based on predefined processing. steps.
Following Processing changes are covered as part of the process:
- Business Override Checks
- Process Exception Checks
- Network Validations
- Authorization Limit Check
- Future Valued Check
- Accounting Handoff
- SOD/EOD Message Processing