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NL Corresspondent Jammu Tawi: In a move to safeguard customers from fraudulent payment of cheques, Punjab National Bank, nation’s leading public sector bank, made Positive Pay System (PPS) compulsory for cheque payments worth Rs. 5 Lakh and above. This will come into effect from 05.04.23. The PPS is a system developed by the National
Punjab National Bank, nation's leading public sector bank, made Positive Pay System compulsory for cheque payments worth Rs. 5 Lakh and above. This will come into effect from 05.04.23.
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Punjab National Bank: The new change will add an extra layer of security against any potential risk while processing such cheques
The PPS is a system developed by the National Payments Corporation of India (NPCI), which requires customers to reconfirm essential details.