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Question

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What is the essential information that remitting customer would have to furnish to a bank for the remittance to be effected through RTGS ?

Solution

The remitting customer has to furnish the following information to a bank for effecting RTGS:

1. Amount to be remitted.

2. His account number which is to be debited.

3. Name of the beneficiary bank.

4. Name of the beneficiary customer.

5. Account number of beneficiary customer.

6. Sender to receiver information if any.

7. The IFSC code of the receiving bank branch.

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