For cheques worth Rs. 5 lakh or over, the RBI recently carried out a Positive Pay System. On August 1, the cheque clearance framework became functional. This approach has been conveyed by many banks, including SBI, to forestall actually look at misrepresentation. Clients should submit to the new guidelines as of the latest modifications to cash really looks at worth Rs. 5 lakh or above.
As expected by the new guideline, the issuer must electronically pass explicit data on to the drawee bank through SMS, mobile banking, net banking, ATMs, and so on, including the recipient’s name and the date of issue. The data will be double checked while handling payments later.
Clients of SBI who wish to utilize the help should initially enlist their cheque operated accounts for the Positive Pay System by presenting an application in the necessary structures at one of the branches. Extra channels are accessible for enlistment, including Mobile Banking (YonoLite), Retail Internet Banking (RINB), Corporate Internet Banking (CINB), and YONO (Mobile App).
Step by step instructions to utilize the SBI YONO App to present a SBI Positive Pay on the web:
- Download the Yono SBI light application and sign in.
- Select “Administration” from the menu.
- Click “Positive Pay System” presently.
- Kindly snap “cheque Lodgement Details.”
- Select your account number
- Incorporate the important data, like the cheque, giving date, and sum.
- submit it.
The most effective method to present a SBI Positive Pay by means of Mobile Banking-
The text ought to be organized as follows:
- cheque No. Sum Date of Issue in CHQL
- Recipient Name and email it to +917208933145 with the configuration DDMMYYYYY/N (Multi City/Normal). Recollect that main clients who have enrolled for SBI Quick are qualified for this assistance.
How to present a positive compensation through SBI’s net banking system?
- Launch Net Banking, then, at that point, sign in utilizing your accreditations.
- Visit the part for cheque Book Services. Then, at that point, select the Positive Pay Services choice.
- Fill in the important data, like the cheque, giving date, and sum.
- Send it in toward the end.
The data will be cross-checked at the positive compensation site after the PPS prerequisites are done.
