The bank has made a big announcement for the customers of Punjab National Bank. The bank has changed the way for its customers to make payments through cheques. Let’s know what is the new change.
The bank has made a big announcement for the customers of Punjab National Bank. The bank has made Positive Pay System (PPS) mandatory for payment of cheques worth Rs 5 lakh and above to protect its customers from cheque related frauds. PNB said in a statement that this new system is going to be implemented from April 5, 2023. Earlier, it was mandatory for the customers of Punjab National Bank to submit cheque details under Positive Pay System for cheques worth Rs 10 lakh or more.
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