The Reserve Bank of India has placed on its website (www.rbi.org.in) today, ISO 20022 standard message formats for Next Generation Real Time Gross Settlement System (NG-RTGS) for wider dissemination.

It was announced in the Monetary Policy Statement for 2011-2012 that the Reserve Bank would implement the Next Generation Real Time Gross Settlement (NG-RTGS) System having several advanced features, such as, liquidity management facility, extensible markup language (XML) based messaging system conforming to ISO 20022 and real time information and transaction monitoring and control systems. A working group was formed with representation from banks, Institute for Development and Research in Banking Technology (IDRBT), clearing entities for finalising the ISO 20022 standard message formats to be used in Indian Financial Sector. The message formats were subsequently validated by the ISO Registration Authority. The formats are subject to change due to change in policy decision for payment system application.

Any inquiry/doubts on the message formats may please be addressed to Chief General Manager-In-Charge, Department of Information Technology, 14th floor, Central Office Building, Reserve Bank of India, Shahid Bhagat Singh Road, Mumbai 400 001 or emailed within one month. Clarifications regarding adoption of ISO standard message would be placed on the RBI website separately.

Ajit Prasad
Assistant General Manager

Press Release : 2012-2013/1079