To make cheque transactions safer, the Reserve Bank of India (RBI)* has asked all banks to introduce the Positive Pay System effective 01 January, 2021.

The concept of Positive Pay involves a process of reconfirming key details of large value cheques. Under this process, the issuer of the cheque submits electronically, through channels like SMS, mobile app, internet banking, ATM, etc., certain minimum details of that cheque (like date, name of the beneficiary / payee, amount, etc.) to the drawee bank, details of which are cross checked with the presented cheque by CTS. Any discrepancy is flagged by CTS to the drawee bank and presenting bank, who would take redressal measures.

Limit

• To avail this facility, the account holder (drawer of the cheque) needs to share cheque details at the time of issuance of the cheques for amounts of INR 5,00,000/- and above

Cheque details as under required:

• Cheque Date
• Name of beneficiary/payee
• Amount
• Cheque number

Dispute resolution

• Only those cheques which are compliant with above instructions will be accepted under dispute resolution mechanism at the CTS grids.

How to submit cheque details

• Branch Channel(Positive Pay Request Form)
• Internet Banking Channel
• SKNSBL - Mobile Banking Application
• Direct intimation by Email on : cts@kadi.bank.in.

Note

• Customer can share Cheque issues details file through their register Email ID mail.
• Customer have to give miscall from register mobile no for get URL of Positive Pay Request Form.
• IN PPS Form all account holder signature are required as per bank instruction form payment.
• In Internet Banking/ SKNSBL Mobile Banking Customer have to required user name and password.
• For get PPS option on mobile app you need to update version of mobile app,so download latest version above 3.02.1 in Android and iOs App.
• Insufficient and incorrect details may lead to cheque return.
• To enable the validation through Positive Pay, the cheque detail mentioned above should be available with the bank one working day prior to the cheque presentation date.
• Only cheques that are compliant with the Positive Pay System will be accepted under RBI dispute resolution mechanism between the presenting and paying banks.

*click on way of submition for get step you have to follow.

To know more visit your nearest branch.