Serial Number Requirement

Date

5/6/2014

Requirement Id

CR061-(a) High Value

Cheque Clearing

Requirement
Type

Source of the
Requirement
(Bank Resource)

Single/Multi
Country
Requirement

Business
Requirement

DRG

Single

Specify the
countries

Impacted
Channels

Mauritius

Branch

Impacted
Process Name Module Name
Applications

CBS

Clearing

Payments

Requirement Description 1

High Value Cheques Process

Bulk Clearing System (BCSX) will identify high value cheques which will undergo a fast track clearing. The
procedures for handling high value cheques are described hereunder:
1. Banks will send a normal batch of cheque payments to the system
2. The BCS will identify the high value instruments from the batch and split the batch into two batches, normal
settlement and one for priority settlement. The total amount presented for clearing will be adjusted
3. The batch containing high value cheques will be sent to the paying bank for decision making.
4. The paying bank will return the batch to the BCS with approval and rejection codes, as appropriate, before the
high value cut-off time.
5. Cheques which are rejected by the paying bank (with reason codes) will not be settled. The presenting bank
will be notified of this decision.
Further, there are four clearing sessions, As per Bank of Mauritius, bank can send cheques in any
Session. System should support multiple files upload.
Four clearing sessions are linked to specific timings i.e. 10 AM, 12 AM, 3 PM and 4 PM.
High value cheques received in first two sessions has to be returned on same day and for other two sessions it
will be returned next day.
In specific cases, even for last two sessions, can be marked as to be returned and other bank would be informed
through BOM massager.
At present high value cheques are the cheques with value of 1 Million and above. This value is parameterisable.
For session 1 & 2, BOM would send the separate files for cheques below and above 1 Million.
For session 3 & 4, BOM would send a single file for cheques below and above 1 Million
For session 1 & 2, returning are to be done on the same day for the high value file and next day for other file.

Supporting Documents

Banks remarks

Requirement Status

Requirement Description 2

Additional Information

Third Party
System

Solution
Classification

Recommended
Solution

Bank's Status

Bank's Remarks

HP Remarks

Solution Status

Regulatory (Y/N)

Risk & Compliance

(Y/N)

Existing Functionality
(Y/N)

Customer Impact
(H/M/L)

Profitability Impact
(H/M/L)

Release
Recommendation

Customization
Complexity

Customization
Effort

Data Migration Impact

Remarks