Understanding Your A/C XX489 Credit and NEFT Transactions

Recently, your bank account with the account number XX489 received a credit of Rs. 2312. This sum was sent to you through the National Electronic Funds Transfer (NEFT) system by a district treasury office in Rangareddy. The unique transaction reference (UTR) number for this transaction is RBI1752036123288. Post this credit, your account balance is now Rs. 6155.46.

What Does This Mean?

Such transactions often signify payment in lieu of your bills or government subsidy claims. If you work with government departments, this payment might be related to a bill you applied for, or it could be part of a government scheme subsidy. For detailed information, consult your nearest branch; they might provide you with a reference number for further clarity.

What is NEFT?

The National Electronic Fund Transfer (NEFT) is a nationwide centralized payment system owned and operated by the Reserve Bank of India (RBI). It facilitates the electronic transfer of funds between individuals, firms, and corporates.

Steps Involved in a NEFT Transaction

The NEFT system follows a step-wise flow. The process begins when the remitter initiates the funds transfer request via internet banking, mobile banking, or by visiting a bank branch. The transaction is then processed by the originating bank and the funds are transferred through the NEFT Clearing Centre operated by the RBI to the beneficiary's bank. This ensures secure and reliable transaction handling.

UTR Number and Its Importance

A Unique Transaction Reference (UTR) number is a unique reference generated for each NEFT transaction. It serves multiple purposes:

Identifying and Monitoring Transactions: Each NEFT transaction is assigned a unique UTR number, which helps in tracking and verifying the transaction. Transaction Status Tracking: You can use the UTR number to check the status of a transaction. Simply visit your internet banking account or the mobile app to search for the transfer using the UTR number, or contact your bank’s customer care with the UTR number for an update. User-Friendly Tracking: The UTR number offers a convenient way for users to keep track of their financial activities.

Learn More

To gain a deeper understanding of UTR numbers in NEFT and RTGS transactions, you can refer to the following resources:

What is UTR Number in NEFT or RTGS Transactions Reserve Bank of India How to Find Your Unique Transaction Reference UTR Number

By following these resources, you can stay informed and manage your transactions more effectively.