What is the Positive Pay System for cheque transactions? | Explained
3:08
timesnownews.comHeena Gambhir
What is the Positive Pay System for cheque transactions? | Explained
From January 1, 2021 Indian banks will be introducing the Positive Pay System. In August 2020, RBI had ordered banks to start a positive pay system for cheques above 50,000 rupees from January 1, 2021 with an aim to enhance safety and eliminate the possibility of frauds. Under this system, you, the customer will have to re-confirm key details ...
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