This module will not be further enhanced. Support is limited to defect fixing only.

Introduction to Payments Information

This module allows banks to generate an inward remittance certificate for inward remittances, as well as recording the remittance purpose code.

Click here to understand the terms and abbreviations used in this module.

Remittance Regulatory Returns to RBI and FIRC

This functionality allows banks to issue Foreign Inward Remittance Certificates (FIRC). A FIRC acts as documentation for a foreign money transfer. It tracks the amount of the transfer in both the foreign currency and in rupees, as well as where the transfer comes from and where it ends up. Since the foreign fund transactions might be used for illegal activities like money laundering, a FIRC is a safeguard against such purposes.

FIRC issued by the bank will need to maintain the stock of such financial certificates or instruments. Each of the certificates will carry a unique serial number.

The STOCK.ENTRY application can be configured to operate the stock register for FIRC.

The CHEQUE.TYPE application is used to include the FIRC instrument in the stock, to maintain the stock register for FIRC.

New versions of the PP.ORDER.ENTRY application have been released for holding all transfers pending repair payments, and for authorisation.

The purpose code will be captured in the PAYMENT.PURPOSE.CODE application. The capturing of the purpose code is mandatory at the version level.

The DEAL.SLIP.FORMAT application is used to define the FIRC layout so that the print advice generation can be made possible in Temenos Transact.

The FIRC normal advice is triggered if the Purpose Code field in Temenos Transact contains any other value other than P0006, P007, or P008.

FIRC Conditional Advice Generation

This functionality allows users to generate security advice by inputting one of the following values P0006, P0007, or P0008, in the Purpose Code field of the PP.ORDER.ENTRY application.

The PP.ORDER.ENTRY application is enabled so that users can generate security advice by inputting one of the following values P0006, P007, or P008, in the Purpose Code field.

The Purpose Code field has been introduced in the PP.ORDER.ENTRY application in order to capture the purpose code as mandated by the Reserve Bank of India (RBI). These will be fetched from the INBASE.PMT.PURPOSE.CODE application.

The following enquiries have been introduced as part of this functionality:

• The INBASE.PMT.PURPOSE.CODE.DETAILS enquiry is used to list all the purpose codes, and provide the option to either edit or reverse the record.
• The INBASE.PMT.PURPOSE.CODE.NAU enquiry is used to fetch the INAU records where the versions for editing, authorisation, and deletion are added.

Versions of the INBASE.PMT.PURPOSE.CODE application have been released in order to facilitate the input, amendment, and deletion of a purpose code.

Fields have been introduced in the INBASE.PMT.PURPOSE.CODE application in order to give out further details of the purpose code based on which the Foreign Exchange Transaction Electronic Reporting System (FETERS) reporting is done.