Punjab National Bank (PNB) is soon going to make major changes in the payment rules. If customers are not careful about the new rules, then they may have to face big trouble.
New Delhi: This is very important news for the customers of Punjab National Bank (PNB). Punjab National Bank is going to make major changes in the payment rules from April 4. Punjab National Bank has made a big change regarding the rules of payment by cheque. From April 4, new rules related to cheque payment will be applicable for customers.
Punjab National Bank is going to implement Positive Pay system for its customers from April 4. Now the bank will not clear any cheque without PPS.
Cheque payment will not clear without PPS
Under the positive pay system, after April 4, cheque payment will not be able to be done without verification. This rule will be applicable on cheque payment of 10 lakhs or more. Punjab National Bank has also shared this information on its official website. PPS will be mandatory for any cheque payment of Rs 10 lakh or more.
Know what is Positive Pay System (PPS)
RBI has implemented this rule to make the medium of cheque payment secure. After the implementation of PPS, it will also take very less time for the cheque payment to be cleared. The purpose of implementing PPS is also to prevent fraud in cheque payment.
The customer of PPS will have to provide the account number, cheque number, cheque alpha, cheque date, cheque amount and name of the beneficiary along with the cheque to clear the cheque for an amount of 10 lakhs or more. This cheque will not be cleared without PPS confirmation.
By taking this step of banks, it will take much less time to clear the cheque and the convenience of the customers will also increase.
PNB issued helpline number
Punjab National Bank (PNB) has also issued a helpline number for its customers. Such customers who are facing any kind of problem related to PPS can get the solution of their problem by calling this helpline number 1800-103-2222 or 1800-180-2222.
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