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Positive Pay System

The document provides information about the implementation of the Positive Pay System (PPS) for cheque truncation in India beginning January 1, 2021 per RBI directives. Under PPS, customers will need to submit minimum details of issued cheques above Rs. 50,000 through internet banking, mobile apps, or branches. These submitted details will be matched with cheque payments to validate authenticity. The document also includes a format for customers to provide cheque and account details to the bank under PPS.

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Pinky Patel
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16K views2 pages

Positive Pay System

The document provides information about the implementation of the Positive Pay System (PPS) for cheque truncation in India beginning January 1, 2021 per RBI directives. Under PPS, customers will need to submit minimum details of issued cheques above Rs. 50,000 through internet banking, mobile apps, or branches. These submitted details will be matched with cheque payments to validate authenticity. The document also includes a format for customers to provide cheque and account details to the bank under PPS.

Uploaded by

Pinky Patel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
  • Positive Pay System Notice: Informs customers about the implementation of the Positive Pay System for cheques and provides guidelines for its usage effective from a specific date.
  • Customer Information Submission Form: A form where customers fill in cheque and account holder details for the Positive Pay System submission process.

KIND ATTENTION FOR

CUSTOMERS
POSITIVE PAY SYSTEM
W.E.F. 01.01.2021

AS PER RBI DIRECTIVES, POSITIVE PAY


SYSTEM FOR CHEQUE TRUNCATION
SYSTEM (CTS) IS BEING IMPLEMENTED
FROM 01.01.2021. UNDER THIS
PROCESS CUSTOMERS ARE ADVISED TO
SUBMIT MINIMUM INFORMATION ABOUT
CHEQUE ISSUANCE FOR AMOUNT ABOVE
Rs.50,000/- (OPTIONAL) AND
AMOUNT Rs.5,00,000/- AND ABOVE
(MANDATORY) THROUGH CHANNELS
LIKE – INTERNET BANKING/MOBILE
APP/BRANCH INTERFACE. THE
SUBMITTED DETAILS WILL BE MATCHED
WHILE PAYMENT OF CHEQUE.
Branch _______________________________

POSITIVE PAY SYSTEM(PPS)

FORMAT FOR SUBMITTING INFORMATION BY CUSTOMER

CHEQUE DETAILS :

Cheque Number
Date of Cheque
Name of Beneficiary/Payee
Purpose of Cheque issuance
Amount of Cheque – In figure

– In Words Rupees:
Account with Bank & Branch

ACCOUNT HOLDER’S DETAILS :

Name of Account Holder


Account Number & Branch /
Account Type
MICR Code
PAN Number
MOBILE Number

Date :
Branch :
(where the details submitted)

Signature of A/C Holder


(as in Bank’s Record)

PPS Data entered on ---------------- at ------AM/PM.

Employee no & Signature of Maker

Employee No & Signature of Checker

Acknowledgement

Received PPS details of Chq No ----------------------------- In the Ac Number --------------------------------


---- of Mr/Ms/Mrs/M/S ---------------------------------------------- on --------------------at --------
AM/PM at our ----------------branch.

(Incharge/Manager with seal)

KIND ATTENTION FOR CUSTOMERS POSITIVE PAY SYSTEM W.E.F. 01.01.2021 AS PER RBI DIRECTIVES, POSITIVE PAY SYSTEM FOR
Branch _______________________________ POSITIVE PAY SYSTEM(PPS) FORMAT FOR SUBMITTING INFORMATION BY CUSTOMER CHEQUE

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