Safe guard your cheque transactions with "Positive Pay"

In order to safeguard the cheques issued by the customers, a new service has been introduced by RBI. This service is called "Positive Pay" which reduce/avoid the instances of frauds occurring due to tampering of the cheque leaves and it enhances the safety of cheque payments in the banking system.

All you need to do is share the details of issued cheque like Cheque Number, Cheque date, Payee name, Account number, Amount etc., before handing it over to the beneficiary to the respective branch where you are maintaining the account.

It is the discretion of the account holders/customers whether to avail the above facility or not for the cheques of Rs. 50,000/- to Rs.5,00,000/-. But, it is mandatory for the cheques above Rs.5,00,000/- (Rupees Five Lac)

When the beneficiary submits the cheque for encashment in clearing/at the counters, the cheque details are compared by us with the details provided to our Bank through Positive Pay. If the details match, the cheque is honoured. In case of mismatch in cheque details, the cheque is referred to you.