What is Positive Pay? Here's what RBI announced to enhance safety of cheque payments
Updated : August 08, 2020 12:05 PM IST
The Reserve Bank of India (RBI) on Thursday said it has decided to introduce a mechanism of Positive Pay for all cheques of value Rs 50,000 and above.
This will cover approximately 20 percent and 80 percent of total cheques by volume and value, respectively.