Pps full form: Explore the benefits of Positive Pay System

Explore the benefits of Positive Pay System ( PPS ) for cheques truncation with HDFC Bank. Enhance security, prevent fraud & streamline your financial transactions. 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. 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 full form is a positive pay system. RBI has introduced this financial solution to increase the security of the cheques, especially if it is a high-value one. With a positive pay system, the one who draws the cheque authenticates important cheque details like cheque number, amount, and date.