Secure Your Cheque Payments: Know How Positive Pay System Works In Banks – News18
Positive Pay System: Most banks have adopted the PPS for cheques above Rs 50,000. (Representative image) RBI introduced the Positive Pay System in 2021 to combat the rising cases of cheque fraud. The Reserve Bank of India (RBI) introduced the Positive Pay System (PPS) to enhance the security of cheque-based transactions and reduce the risk…