Postive Pay System

In December 2020 RBI had announced that they will introduce a new method for cheque clearance, that is the positive pay system. It was all discussed earlier, but you know the Indian systems have their own cool time to implement. I think the fast tag system took more time to be implemented after the announcement. So now after 6 months of cool-down period and Covid problem, from June 1st, 2021, banks are going to implement Centralized Positive Pay System (CPPS).

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