PNB (Punjab National Bank), the second-largest public sector bank in the country, is about to make major changes in its rules. Yes and if your account is also in this bank, then this news is very special for you. If you look at the special report that will come out, the new change is going to take place from April 4, 2022. According to the information received, the bank is going to implement the rule of a positive pay system from this date, after which the process of cheque clearance will be changed. You all must be aware that since this rule which will be applicable in PNB, the verification of the cheque will be done compulsorily at the time of issuing cheques for payment. Yes and without verification cheques will not be passed in any case.

This means that this cheque will be returned without verification. Before Punjab National Bank, Bank of Baroda had implemented a positive pay system rule on February 1. There has been a significant increase in the cases of banking frauds for some time now. In such a situation, seeing the rise of these cases, the banks are changing their rules in order to protect their customers. Under the new rule, now while issuing a CHEQUE of PNB to someone, you will have to share information about the date of cheque electronically from internet banking, ATM or mobile banking or SMS, name of the beneficiary, account number, amount in the cheque. At the same time, the positive pay system is also a tool to prevent banking fraud.

Through this, all the information can be verified while making cheque payments and they can be saved from any fraud that happens to the customers. Let us tell you that PNB has given information about the implementation of this rule from its official website on April 4, 2022. According to the information, if a person issues a cheque for an account above 10 lakh, then PPS confirmation is necessary to pass his cheque.

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