POSITIVE PAY SYSTEM (PPS)
As per Reserve bank of India Notification No. DPSS.CO.RPPD.No.309/ 04.07.005/2020-21 dated September 25, 2020.
We have introduced and implemented the Centralised Positive Pay System (CPPS) for cheques of Rs 50,000/- and above for CTS w.e.f 01st January, 2021 in a bid to enhance safety and eliminate cheque related frauds by reconfirming key details of large value cheques.
The Customers need to share the following details of the issued cheque immediately to the bank
- Drawers Account Number
- Cheque Number
- Cheque Date
- Payee’s Name