Unique Transaction Reference number is the utr full form. A UTR or Unique Transaction Reference number is a reference number for identifying an NEFT, IMPS or RTGS transaction.
Every NEFT/IMPS transaction on the NEFT/IMPS systems will have a UTR. Identification of all transactions with a particular UTR number would require that all previous and subsequent transaction details be made available to the banking industry or any other authorised agency by RBI. This requirement is not practically possible, as it would involve storing large amounts of data in personal computers, which could lead to very high costs for both RBI and banks. Further, there are no business reasons for maintaining such information since this would only create confidentiality issues without serving any business purpose. Therefore, RBI has decided that there is no need to provide Unique Transaction Reference Number (UTR) facility in its RTGS system, but instead offer an alternative service – Electronic Payment and Settlement Instructions (EPSI).
Business Correspondents have to keep the following records of their NEFT transactions for reconciliation with Banks:
Banks are required to maintain reconciliation reports so as to arrive at the difference, if any, between the total credits shown in these statements and those reflected in daily passbooks. A comparison of this nature is necessary because transaction numbers are not individualized but are merely “serial” numbers that are repeated each day. Thus, there could be times when a particular transaction number that appears on one statement does not appear on another statement though it represents an actual payment/receipt made by the Bank. A comparative statement will help identify such missing transactions which can then be added manually to finalize data for reporting purposes.
The settlement of outstanding amounts between Business Correspondents and their respective banks is done through the online NEFT/RTGS system on a daily basis. The parties concerned are required to reconcile their individual accounts for ensuring that all debits and credits are duly reflected in accordance with the settlement instructions issued by RBI.
Concerned Banks, group them according to the correspondent banks who would be settling their dues (i.e., party-1) against whom Business Correspondents would be carrying out transactions group them accordingly (i.e., party-2). Similarly, arrange another set of groups similar to above but reversed i.e., party-2 vs party-1. Prepare statement of outstanding transactions (debit / credit) vis-à-vis each other for each day during the year as on 30.06. (balance as on last day) and 31.12. (balance as on first day of next year).
For reconciliation purpose, NEFT messages can be grouped in such a way that there is one group for each bank-correspondent pair; the first message will have party-1 as the receiver and the second message will have party-2 as the receiver.
However, a system is being introduced wherein if a bank has more than one correspondent, say for e.g.: Bank A has three correspondents B1 C1 and C2 then transaction details of all transactions with each correspondent should be grouped separately so that they can be reconciled with the correspondent concerned. Banks should also ensure that no payment made to its correspondents is not passed on without proper credit to accounts of other correspondents.
UTR number SBI
The UTR number is the unique and permanent identifier of your account in SBI’s data base. The last 4 digits of your UTR represent your Branch code and the first 2 digits represent the State code for which you have opened this Account. You can find more detailed information about what all belongs to a customer’s UTR on website by following this link:
UTR full form in phonepe
At this point, you will receive an internal reference number that can be used to track your refund. This unique string of numbers is generated only for card payments and not UPI or account refunds; however it’s still very important.
UTR full form in Medical
The first untranslated region is the functional unit that binds to the ribosome and direct translation.
The second, an untranslated region located upstream to the start codon has been used as binding site for promoter regions of prokaryotic genes.
The third, an evolutionary conserved DNA sequence found in the 3’UTR of eukaryotic messenger RNA’s which are devoid of stop codons.
This sequence is thought to exert a regulatory role on gene expression by interacting with other aspects or regulators. Research has shown that known microRNAs have high affinity for sites present within this particular untranslated region type.
Some proteins can also bind to this region through specific logos, making them another candidate.
UTR full form in software testing
UTR full form in software testing is Unit Under Test Requirements Interface.