Education / Livemint
Positive Pay System: Know how it prevents cheque fraud and secures high-value transactions
The Positive Pay System (PPS) by the RBI enhances cheque security by requiring issuers of cheques over 50,000 to pre-register details like cheque number, date, amount, and payee name. This prevents fraud and ensures smooth cheque clearing through extra verification.
25 Mar 2025 3:31 pm