FAQs – Positive Pay System (PPS)
To add an additional layer of safety to the customer and avert fraudulent encashment of cheques through their fabrication, a new service has been introduced as per directives from RBI. Customers, after issuance of cheques, will provide to the Bank, details of the instruments issued by them on their account with the Bank. The Customer needs to share the cheque details like Cheque Number, Cheque date, Payee name, Account number, Amount to the nearest Branch by updating the cheque details in the Positive Pay Form and counter signing the same. Alternatively, the details can be submitted online through Internet Banking.
When the beneficiary submits the cheque for encashment, the cheque details will be compared with the details provided to the Bank through Positive Pay. If the details match, the cheque will be honored, else the cheque may be returned.
Implementing ‘Positive Pay’ will increase safety in cheque payments and will reduce instances of fraud occurring on account of tampering of cheques. Positive Pay is a fraud detection tool adopted by banks to protect customers against forged, altered or counterfeit cheques. It cross verifies all details of the cheque issued before the cheque is encashed by the beneficiary.
The PPS is a step taken to safeguard the cheques issued from alteration/ forgery and avoid any fraud. If Positive Pay facility is not used, any claim raised against the particular cheque will not be accepted under dispute resolution mechanism at RBI.
Sharing the cheque details through PPS for cheques amounting to ₹ 5,00,000/- and above is mandatory. In case of non-submission of PPS details by the customers, the cheque with value ₹5,00,000/- may be returned to the presenting Bank, when the cheque is presented through CTS clearing.
Yes. As per RBI, Positive Pay details has to be submitted by all the customers issuing cheques for amount ₹5,00,000/- and above.
Yes. You can submit cheque details through the PPS form available at the nearest branch during the branch working hours.
Yes. You can submit cheque details through Internet Banking.
Enter the login credentials in Internet Banking and follow the process outlined below:
• Select option Services >> Positive Pay
• Enter the following mandatory details:
- Choose the Account Number
- Name of the Beneficiary (Payee’s Name)
- Cheque Number (6 digits)
- Transaction code
- MICR code
- Cheque Amount
- Cheque/Issue Date (Date mentioned on the cheque)
• Click SUBMIT. Confirmation screen will get displayed to confirm the cheque details.
• Enter the OTP received on the registered mobile number and click Submit.
• Appropriate message will be displayed on the screen.
No. Positive Pay facility is provided free of cost to all the customers of the Bank.
Through digital mode, Positive Pay details can be submitted 24X7 and for sharing the details over the Bank’s counter you has to adhere to bank’s customer visiting hours.
To enable validation through Positive Pay, cheque detail should be available with the Bank one working day prior to the cheque presentation date as Positive Pay request shall be updated in the NPCI’s database on the next working day.
It takes one working day for the Bank to update Positive Pay details in the NPCI’s database.
Sharing the cheque details through PPS for cheques amounting to ₹ 5,00,000/- and above is mandatory. In case of non-submission of PPS details by the customers, the cheque with value ₹ 5,00,000/- may be returned to the presenting Bank with return reason description “Positive Pay details not available”, when the cheque is presented through CTS clearing.
No. If there is a difference in details submitted by you and the cheque received in clearing, Bank has the right to return the cheque to the presenting bank in CTS clearing.
Yes, as RBI has mandated to share the cheque details under Positive Pay mechanism for all the cheques issued by the drawer.
No. For each cheque issued, Positive Pay has to be done separately.
Positive Pay mechanism is implemented with an aim to prevent frauds under CTS. In case Positive Pay is not used, the cheque shall not be accepted for dispute resolution mechanism under CTS grid.