UTR Full Form

UTR stands for Unique Transaction Reference Number in India. In the UK, UTR stands for Unique Taxpayer Reference number, so don’t get these two mixed up; we’re talking about Unique Transaction Reference number.

In India, the bank initiating the fund transaction will generate a unique UTR number for each transaction you make. Several transaction protocols use the UTR-number in different ways.

Whether you’re sending money to India or transferring money out of India, you’ll always need a UTR number. A unique UTR number will also be used in the inter-bank money transfer process. Indeed, in India, every type of money transaction, whether online or offline, is assigned a unique UTR number. Thus, if you’re planning on making a money transfer soon, you’ll need to know what a UTR-number is.?

Basic information regarding UTR in banking and its use in your money transaction is provided below.

What is a UTR number?

Unique Transaction Reference number or UTR-number is a certain reference code that the banks developed by considering a particular money transfer. With the backup of a UTR-number, the NEFT stands for National Electronic Funds Transfer.) or RTGS (Real-Time Gross Settlement) fund transfers could be effortlessly recognized as each transaction possesses a particular UTR-number and that is what sets it apart from the other fund transfer you did. 

In India, all banks accept UTR numbers for all types of financial transactions. It has two significant advantages:

  1. The first is for the receivers, while the second is for the bank or government. This UTR number can assist recipients when there is no current update or credit associated with the transaction.
  2. UTR numbers, on the other hand, allow banks and the government to monitor every transaction.

What is the significance of the UTR number?

Unique Transaction Reference Number has a variety of uses and functions, some of which are described below.

  • The UTR-number is very important for identifying a specific inter-bank financial transaction.
  • As a customer, you can track the status of your transaction using the UTR number.
  • In the case of interbank transfers, a Unique Transaction Reference Number might assist you in determining any financial transaction delays.
  • However, if money is debited from an NRI account but the receiver has not received it, the sender can contact the customer service staff of the bank that initiated the transaction using the UTR number, and the supporting team can track the transaction and notify you about the reason for the delay.

How can you find your UTR number?

The UTR number can be easily found on your bank statement. The unique transaction reference number is listed asref no right below the transaction information on your bank statement. Furthermore, because we live in the age of online banking, you can simply see your account statement through mobile banking apps.

How many characters are there in a UTR number?

In India, there are only two ways to transfer money from one bank to another. These are the methods:,

  • NEFT stands for National Electronic Funds Transfer.)
  • RTGS (Real-Time Gross Settlement)

The UTR number for RTGS is 22 characters long, whereas the UTR number for NEFT is 16 characters long. The generated UTR-number in an RTGS fund transfer looks like this:


In this case, the answer is no.

  • XXXX represents the bank’s IFS code.
  • R denotes the RTGS system.
  • The transition channel is denoted by C.
  • The year, month, and day format of YYYYMMDD specifies the date of the money transfer.
  • ########The transaction’s exact placement number is ########.

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