Positive Pay System

Positive Pay System

POSITIVE PAY SYSTEM (PPS)

As per Reserve Bank of India directives, Bank has implemented Positive Pay System (PPS) for all modes of cheque payments (Cash/Transfer/Clearing) effective from 01.01.2021. This is a measure for prevention of frauds perpetrated through cheque tampering/alteration. Positive Pay System involves re-confirming of key details of the cheque by drawer to the Bank, which would be cross-checked with the presented cheque at the time of payment processing.

The Positive Pay System implemented in SBI involves a two-step process as under:

Last Updated On : Thursday, 10-03-2022

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