Payment by revenge check: RBI made this big announcement, now fraud will be caught These details will be cross-checked before check payment. The bank will pay the check only if all the details of the check match the given information again. But if the check details are not matched then the bank will stop the payment.
There is going to be a big change in the check payment system from January 1 of the new year on the transaction of money. The central bank, the Reserve Bank of India, has announced the introduction of a positive payment system from January 1, 2021. Explain that under this new rule, the required details on payment of more than Rs 50,000 will need to be confirmed again. Here, tell you what is this new positive payment system? How will this affect your bank transactions?
Images Source : Google Search.