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    Question

    According to the IFSCA Circular issued on January, 2024,

    what purpose code should be used by AD banks in their Balance of Payments (BOP) file to report the reversal of wrong entries credited to their Nostro account?
    A P0093 Correct Answer Incorrect Answer
    B S1502 Correct Answer Incorrect Answer
    C P0092 Correct Answer Incorrect Answer
    D S1201 Correct Answer Incorrect Answer
    E P1102 Correct Answer Incorrect Answer

    Solution

    AD banks must report the reversal of wrong entries credited to their Nostro account using purpose code S1502 in the BOP file.

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