Banaskantha Bank

PPS - Positive Pay System

As per RBI guidelines, The Banaskantha Mercantile Co-operative Bank Ltd. has implemented the Positive Pay System (PPS) to protect you from cheque-related frauds. PPS adds an extra layer of security for high-value cheques.

How It Works

When you issue a cheque of ₹50,0000 or more, you need to provide cheque details to the bank such as:

  • Cheque Number
  • Cheque Date
  • Payee Name
  • Account Number
  • Amount
These details are verified by the bank before the cheque is cleared.

Submission Channels

  • Mobile Banking
  • Visiting the nearest branch

Benefits

  • Enhanced security for cheque transactions.
  • Reduces chances of fraudulent cheque presentations.
  • Ensures timely and authenticated cheque clearance.

Note:
Positive Pay is mandatory for cheques of ₹5 lakhs and above for availing dispute resolution mechanism under CTS.

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