What is Positive Pay System? This bank's new rule for cheque payment comes into effect from today - All you need to know
The new rule has been introduced in order to ensure the safety of customers' accounts dealing with high-value transactions. The bank believes that its Positive Pay System will help to check any cheque frauds.
Customers can stop the payment of issued cheques at any point of time before its presentment / payment in CTS clearing or at counter.Pic: https://www.bankofbaroda.in/