Your bank may refuse to clear cheques after today: Have you confirmed Positive Pay System (PPS) yet?1 min read . Updated: 01 Aug 2022, 07:44 AM IST
Many banks, from August 1, have made the Positive Pay System (PPS) for cheques issued for ₹5 lakh or more
Beginning August 1, 2022, many banks will need the Positive Pay System (PPS) for cheques issued for ₹5 lakh or more. Such cheques will be turned down by your banker if you don't offer Positive Pay confirmation. The banks may refuse to clear such cheques if the PPS rules are not followed.
Select your Category