PPS in banking (Positive Pay System) helps prevent cheque fraud by verifying details before processing. Learn how PPS full form in banking enhances security and reduces risks for safer transactions! PPS is a process of submitting information about cheque issuance for amounts above Rs.50,000/- and Rs.5,00,000/- through online or branch channels. It is implemented from 01.01.2021 as per RBI directives to prevent frauds. Positive Pay System ( PPS ) To safeguard your hard-earned money against cheque frauds, as per RBI guidelines, Bank has introduced Positive Pay System for cheques of Rs. 2.00 lakhs and above w.e.f. 01.01.2021. PPS is an electronic authentication system introduced by RBI to prevent cheque fraud. It requires the issuer to share cheque details with the bank before payment via email. Learn how PPS works and how to use it with HDFC Bank.
