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Positive Pay
December 17 , 2020
1442 days
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- The new Cheque Payment System 'Positive Pay' will be implemented from January 1, 2021 for payment of over Rs 50000.
- The Positive Pay System for the Cheque Truncation System was announced by the Reserve Bank of India to ensure customer safety against any fraudulent activity.
- The National Payments Corporation of India (NPCI) has been entrusted to develop this system.
- Positive Pay is a tool under the Cheque Truncation System (CTS) that detects any fraudulent activity involved in cheque payments.
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