Positive Pay System mandatory for cheque payments of Rs 5lakh and above: PNB

New Delhi [India], March 3 (ANI): In a move to safeguard customers from fraudulent payment of cheques, Punjab National Bank has made Positive Pay System (PPS) compulsory for cheque payments worth Rs 5 lakh and above. This will come into effect from April 5 this year.

The PPS is a system developed by the National Payments Corporation of India (NPCI), which requires customers to reconfirm essential details, such as account