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BIEIel aes (@l punjabnational bank
Seana comer rereed
Positive Pay System (PPS) for Cheque Truncation System
In order safeguard the customer and to make the Cheque Payment with added
security features Reserve Bank of India has announced to implement the Positive Pay
System for Cheque Truncation System (CTS) w.e-f. January 01, 2021.
As per concept of Positive Pay System, the issuer of the cheque submits certain
minimum details of that cheque like Cheque Number, Cheque Amount, Cheque Date,
Payee/Beneficiary Name to the drawee bank.
Positive Pay System will be available for all account holders issuing cheques for
amount of Rs.50000 and above. Availing of this facility will be at the discretion of the
account holder. However, only those cheques which are compliant with instructions of
Positive Pay System shall be accepted under dispute resolution mechanism at the
CTS grids.
The customers may avail the facility of Positive Pay System (PPS) by submitting the
desired details of the cheque issued by him/her through Branch or through digital
channels i.e. Internet Banking Service-Retail & Corporate, Mobile Banking Service
(PNB ONE), SMS Banking.
Please note that Positive Pay details are to be submitted 1 working day prior to cheque
presentment/clearing date.
Customer can request on following format to avail the facility of Positive Pay System
through branch:
REQUEST FOR SUBMISSION OF CHEQUE DETAILS IN POSITIVE PAY SYSTEM
Branch Office: Sol Id:
Account Number of Customer:
‘Account Name of Customer:
Cheque Number:
Cheque Amount (Rs.):
Cheque Date (DD/MM/YYYY):
Payee/Beneficiary Name (same as mentioned on cheque):
Date: Signature of Account Holder
The detailed process to be followed for submitting the PPS data through IBS (Retail &
Corporate), PNB ONE (Mobile Banking) and SMS banking are annexed.
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