Positive Pay System
Reserve Bank of India (RBI) guided cheque truncation security framework
Positive Pay is a fraud-prevention mechanism under the Cheque Truncation System (CTS). When a customer issues a cheque, key details are pre-registered with the Bank. When the cheque is presented for payment, these details are verified against the original instruction, and any mismatch triggers a review before the cheque is cleared.
What Details Are Verified
- Cheque number
- Cheque date
- Beneficiary name
- Cheque amount
How It Works
- Issue a cheque as usual.
- Share the cheque details with the Bank (branch / approved channel).
- Bank records the Positive Pay instruction.
- On presentation, details are cross-verified before payment.
Applicability
- Applies to cheques above the threshold prescribed by the Bank / RBI from time to time.
- Customers are advised to use Positive Pay for all high-value cheque payments.
- Failure to provide Positive Pay instructions may delay cheque clearance.
For enabling Positive Pay on your account or for assistance, please contact your branch.
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