2020
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
SBI
|
|
|
SIDBI
|
|
|
RBI
|
|
|
SEBI
|
Detailed explanation-1: -The National Payments Corporation of India (NPCI) will develop the facility of Positive Pay in the Cheque Truncation System (CTS) and make it available to participant banks.
Detailed explanation-2: -This process is developed by the National Payments Corporation of India (NPCI).
Detailed explanation-3: -2021. This is a measure for prevention of frauds perpetrated through cheque tampering/alteration. Positive Pay System involves re-confirming of key details of the cheque by drawer to the Bank, which would be cross-checked with the presented cheque at the time of payment processing.
Detailed explanation-4: -Cheque Truncation System (CTS) or Image-based Clearing System (ICS), in India, is a project of the Reserve Bank of India (RBI), commenced in 2010, for faster clearing of cheques.
Detailed explanation-5: -In order safeguard the customer and to make the Cheque Payment with added security features Reserve Bank of India has announced to implement the Positive Pay System for Cheque Truncation System (CTS) w.e.f. January 01, 2021.