Download Positive Pay Application Form PDF for all banks – To ensure safety of bank payments by Cheque, Reserve Bank of India has directed all banks to implement Positive Pay System w.e.f Jan 1, 2021. Positive Pay System involves the process of reconfirming key details of high value cheques. The key details of cheque under PPS include – Beneficiary Name/Payee, Cheque Date, Amount, Account Number, Cheque Number, MICR Code etc.
Issuer of Cheque can submit the details electronically through SMS, mobile banking app, internet banking, ATM etc. to the drawee bank.
While presentation of cheque for clearance, these details are cross checked with the presented cheque by CTS. If any discrepancy or mismatch, is flagged off to the drawee bank and presenting bank as well, who would take redressal measures.
What the Amount Limit for Positive Pay System Facility?
- Issuer of cheque can opt this facility if cheque amount exceeds Rs. 50,000/-. However, it is at discretion of customer to avail this facility.
- But bank may consider making it mandatory in case of cheque values of Rs. 5,00,000/- and above.
Positive Pay System (PPS) Application Form PDF Download
If you are not comfortable or facing problem in submitting cheque details through electronic modes, there is another option through PPS application form/request form.
You can download positive pay system application form in PDF for all banks including State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB), Canara Bank, Central Bank of India, Union Bank, Indian Bank, UCO Bank, Bank of India, Indian Overseas Bank, Punjab and Sindh Bank, Federal Bank, HDFC Bank, ICICI Bank, Axis Bank, IDFC First Bank, Kotak Mahindra Bank, Yes Bank here.
Download Positive Pay System (PPS) Application Form SBI
Download Positive Pay System (PPS) Application Form PNB
Download Positive Pay System (PPS) Application Form Canara Bank
Download Positive Pay System (PPS) Application Form Federal Bank