The concept of Positive Pay involves a process of reconfirming key details of large value cheques. Under this process, the issuer of the cheque submit electronically, through channels like SMS, mobile app, internet banking, ATM etc, certain minimum details of the cheque (like date, name of the beneficiary/payee, amount etc.) to the drawee bank, details of which are crossed checked with the presented cheque by CTS. Any discrepancy is flagged by CTS to the drawee bank and presenting bank, who would take redressal measures.
Under the above system, the customers are advised to notify the bank for cheque issued for Rs.50,000.00 and above.
Nalbari Urban Co-operative bank Ltd. has also introduced the system for the benefit of the customers. Accordingly, all the customers of our bank are requested to notify the bank the particulars of cheque issued for Rs.50,000.00 and above in advance through the dedicated email address email@example.com or can send SMS to mobile no 9954092420 for timely payment of the cheque.