ATTENTION PNB customers! Now You Have To Do THIS While Submitting HIGH-VALUE Cheque
The PPS is a system developed by the National Payments Corporation of India (NPCI), which requires customers to reconfirm essential details.
Mar 03, 2023, 16:09 PM IST
ATTENTION SBI customers! Here's how to submit HIGH VALUE cheque in a few clicks using SBI Yono, Net Banking & Mobile Banking
As per the new Positive Pay System, the issuer must electronically transmit certain information to the drawee bank via SMS, mobile banking, internet banking, ATMs, etc., such as the beneficiary's name, the date of issue, etc. Later, while processing payments, the details will be double-checked.
Sep 01, 2022, 09:55 AM IST
Bank customers alert! Bank may refuse to clear your cheque from August 1: Have you confirmed Positive Pay system yet?
In confirmation with RBI’s latest guidelines, many banks have issued a notification regarding the implementation of the Positive Pay System (PPS) for cheques of Rs 5 lakh or above. Here's all you need to know against the new update on Positive Pay System.
Aug 02, 2022, 11:56 AM IST
