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Positive Pay System can be opted for by providing check details through a branch, online banking for individuals and businesses, mobile banking (PNB ONE) or SMS banking. A press release issued by PNB explains that the details must be submitted one working day before the clearing date can be checked.
According to a press release, PNB has implemented PPS for checks of Rs 50,000 or above. As per Reserve Bank of India (RBI) norms, CTS clearing was introduced from 1st January 2021. RBI informed that the use of PPS in this case will be at the discretion of the account holder. However, banks may consider making PPS mandatory for checks of Rs 5 lakh or more. Henceforth, only checks registered under PPS will be accepted under the dispute resolution mechanism.
Know how to submit check details to PNB
Step 1 : Login to PNB Net Banking using your credentials.
Step 2 : Click on the ‘Positive Pay System’ tab below the Value Added Service option
Step 3 : From the drop-down menu, select the account number to which the check is issued. After that customer has to submit six digit check number, alpha, date of check, amount and name of beneficiary.
Step 4 : Enter transaction password and submit.
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Once this is done, customers will see a notification on their screen confirming the successful submission of PPS details for the cheque.
Customers can also submit check details by sending an SMS to the toll-free mobile number displayed on PNB’s website.
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