Positive Pay System (PPS)

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Positive Pay System (PPS)

Cheque security mechanism introduced to strengthen protection against cheque-related frauds.

Overview

Positive Pay System is a cheque security mechanism introduced to strengthen protection against cheque-related frauds such as alteration, cloning and unauthorised use. Under PPS, selected cheque details submitted by the customer are matched with the cheque presented for clearing before payment is processed.

Objectives/Benefits

Enhances security of high-value cheque transactions.

Supports verification of cheque details before payment.

Helps reduce the risk of cheque fraud.

The source document specifies applicability for cheques of ₹2 lakh and above.

Eligibility

Cheques issued for ₹2.00 lakhs and above to be mandatorily informed to the home branch.

PPS Timing

Details of issued cheques to be informed to the home branch while issuing the cheque or at least 24 hours before the cheque to be presented in clearing.

Rates & Charges

NIL

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