What is Transaction Reference . Number in RTGS?

A Transaction Reference Number (TRN) in Real-Time Gross Settlement (RTGS) is a unique identifier assigned to each transaction processed through the RTGS system. It helps in tracking and referencing specific transactions, ensuring transparency and accountability in the payment process. The TRN allows both the sender and receiver, as well as financial institutions, to monitor the status of the transaction and resolve any discrepancies if they arise.