PNB customers must give details of high-value cheques before clearance

PNB said it has made the PPS facility live through all branches, internet banking services retail and corporate PNB ONE as well as SMS banking and asked its customers to avail the facility of PPS by submitting the requisite details of the cheque issued by them through these means. Reserve Bank of India had issued the guidelines to provide the facility of PPS for cheques of Rs 50,000 and above and advised that the banks may consider making it mandatory for the cheque of Rs 5 lakh and above.

from Banking/Finance-Industry-Economic Times https://ift.tt/8i0OIq3