Question

Unique Transaction Reference number is a ______ character code used to uniquely identify a transaction in the RTGS system.
1. 34
2. 45
3. 22
4. 17

Answer 1

Correct Answer - Option 3 : 22

The correct answer is 22.

• RTGS stands for Real-Time Gross Settlements.
• RTGS is a system where there is a continuous and real-time settlement of fund transfers, individually on a transaction-by-transaction basis.
• Unique Transaction Reference (UTR) number is a 22 character code used to uniquely identify a transaction in the RTGS system.
• The unique Transaction Reference number is used to identify a specific bank transaction in India.
• All banks in India use UTR numbers for all types of money transfers.
• UTR numbers can recognize and keep an eye on financial transactions.
• NEFT transactions UTR numbers are 16 characters long.
• Example of a UTR number: XXXXRCYYYYMMDD########
  • XXXX indicates IFSC (this is the first 4 characters) and is the bank code of the sender.
  • R indicates the RTGS system.
  • C indicates the transaction channel.
  • YYYYMMDD indicates the date of the transaction in this order: year, month, and day.
  • ######## indicates the sequence number.