RBI has introduced Centralised Positive Pay System (CPPS) to further enhance customer safety in cheque payments and reduce instances of fraud. The cheque issuer will be required to submit cheque details (such as date, instrument number, amount, etc.) to the drawee (issuing) bank. The details of said cheque will be verified with the presented cheque through Cheque Truncation System (CTS), and any discrepancy will be flagged to the drawee bank and presenting bank for redressal measures. With reference to the above, the customers are required to provide the cheque details issued by them by visiting the nearest bank branch for registration to CPPS. After registration, customer can either submit cheque details through Bharat Bank website OR by visiting branch on the day the cheque is handed to the beneficiary.
Availing of the facility will be at the discretion of the customer. In case details of manually issued cheques are not provided, existing clearing process will continue without Positive Pay check. However, in case the cheque issuance details are not shared with drawee (issuing) bank, the right to raise a complaint under CTS Dispute Redressal Mechanism in case of an altered cheque paid from the account will be forfeited.Ā