Positive Pay System For Cheques - Avoid Cheque Fraud

How to avoid Cheque frauds using Positive Pay System? The Positive Pay System introduced by RBI & NPCI explained in Hindi. We’ll also discuss the benefits of Positive Pay system and its compulsion in Indian banks.

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Time Stamps
00:00 – Intro
00:51– How to avoid Cheque frauds with a Positive Pay system?
01:37- RBI released this Positive Pay system Circular
02:27- High value check

About the Video
To prevent cheque frauds, financial institutions use a positive-pay system that automates cash management. A company's cheques and the ones it submits to the bank for payment must match in order for positive pay to take place. Any questionable cheque is returned to the issuer for review. The method serves as a sort of insurance for a business against losses, fraud, and other obligations to the bank. While most banks still charge for the service, others now provide it for a discounted price or for free.
The RBI has proposed an electronic authentication method called Positive Pay that will allow you to communicate the check's data with your bank before the bank processes it, and it will go into effect on January 1st 2021. This extra security measure is intended to combat the growing number of check fraud incidents that have garnered media attention over the past year. Positive Pay is undoubtedly a boost for banks as counterfeit check perpetrators' techniques advance with each passing day.

In this video, we’ll cover the following concepts and questions:
1. How to avoid Cheque Frauds?
2. What is positive pay system?
3. SBI positive pay system.
4. Positive pay system for cheques SBI.
5. Positive pay system in Indian bank.
6. What is positive pay system in BOB?
7. RBI directives positive pay CPPS system.
8. Benefits of positive pay system.

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[AssetYogi]

Enjoy Free Access to select Financial Insights & 1st Chapter of all the courses.

[goutamghosh]

Very informative & aware important RBI rules regulations.

[kunwarjiUK-ukhi]

🙏srr ek option trading par detail vedio bnao plz

[rohitasharora]

Sir, i have an question.
Sir when I invest in Nifty index fund growth, and one company gives dividend, whether that dividend amount will be invested in the company itself or equally invested among 50 companies as their percentage in index.

[domnick]

Can't this option be utilised by the issuer of the cheques to issue bogus payment to the drawee ?
E.g. Person A issue cheque to person B however when B try to encash it A deny using positive pay system to issue the payment to person B

[HarichandraDas-jgrq]

50 thousand se kam amount wale cheque ke liye ye feature available nahi hai kya