Nutan Bank

Positive Pay System
  • RBI has introduced the Positive Pay System for Cheque Truncation System w.e.f.01/01/2021. The concept of positive pay involves a process of reconfirming key details of large value cheques, i.e. Rs. Fifty Thousand and above.
  • However, at present, RBI has made it mandatory to obtain information from customers the details of cheques issued with value above Rs. Five lacs and above w.e.f. 01/01/2021.
  • Our bank Customers are requested to provide key details of cheques before handing over to the beneficiaries so that Bank at the time presentment for payment in CTS clearing/ Branch can pass the High Value cheques without any re-confirmation phone call by your base branch. The key details to be provided by customers are Name of the beneficiary, cheque no, amount, date of issue and MICR.
  • Format for collecting the information is also enclosed. Our customers can provide Positive Pay confirmations through Branch Visit and Internet Banking.


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