PNB to clear cheques of Rs 10 lakh & above after customer confirmation from Apr 4

PNB said high-value cheques of Rs 10 lakh and above will be cleared after reconfirmation with the issuer under the Positive Pay System (PPS) from April 4. PNB said to protect the bank customers against large-value cheque frauds, it will make the Positive Pay System (PPS) mandatory from April 4, 2022.

from Banking/Finance-Industry-Economic Times https://ift.tt/2wrHNh1