How to avoid Cheque frauds using Positive Pay System? The Positive Pay System introduced by RBI & NPCI explained in Hindi. We’ll also discuss the benefits of Positive Pay system and its compulsion in Indian banks.
——————————————————————————————-
*** Invest & Trade in Stocks & Mutual Funds ***
Open your Discount Demat Account here:
✔ Zerodha –
✔ Angel Broking – https://tinyurl.com/yzmhe8fm
✔ Upstox –
——————————————————————————————-
***Start investing in Fixed Income Securities***
Start Covered Bonds Here:
✔Wint Wealth –
Start Invoice Discounting Here:
✔TradeCred –
Start Bonds Investing Here:
✔GoldenPi –
——————————————————————————————-
Related Videos & Playlists:
Master Investor Series for Stocks:
Mutual Funds Series:
Real Estate Investing:
——————————————————————————————-
Time Stamps
00:00 – Intro
00:51– How to avoid Cheque frauds with a Positive Pay system?
01:37- RBI released this Positive Pay system Circular
02:27- High value check
About the Video
To prevent cheque frauds, financial institutions use a positive-pay system that automates cash management. A company’s cheques and the ones it submits to the bank for payment must match in order for positive pay to take place. Any questionable cheque is returned to the issuer for review. The method serves as a sort of insurance for a business against losses, fraud, and other obligations to the bank. While most banks still charge for the service, others now provide it for a discounted price or for free.
The RBI has proposed an electronic authentication method called Positive Pay that will allow you to communicate the check’s data with your bank before the bank processes it, and it will go into effect on January 1st 2021. This extra security measure is intended to combat the growing number of check fraud incidents that have garnered media attention over the past year. Positive Pay is undoubtedly a boost for banks as counterfeit check perpetrators’ techniques advance with each passing day.
In this video, we’ll cover the following concepts and questions:
1. How to avoid Cheque Frauds?
2. What is positive pay system?
3. SBI positive pay system.
4. Positive pay system for cheques SBI.
5. Positive pay system in Indian bank.
6. What is positive pay system in BOB?
7. RBI directives positive pay CPPS system.
8. Benefits of positive pay system.
——————————————————————————————-
Connect with Us
INSTAGRAM – https://www.instagram.com/assetyogi
TWITTER – https://twitter.com/assetyogi
FACEBOOK – https://www.facebook.com/assetyogi/
LINKEDIN – https://www.linkedin.com/in/mukulm
——————————————————————————————-
Website
https://assetyogi.com
#chequefrauds #cheques #positivepaysystem
