Positive Pay Cheque truncation system to be implemented from January 01, 2021

In its Statement on Developmental and Regulatory Policies dated August 6, 2020, wherein Reserve Bank of India (RBI) had announced the introduction of the Positive Pay System for Cheque Truncation System (CTS). On September 25, 2020, RBI has issued a circular stating that the Positive Pay System shall be implemented from January 01, 2021, for…