PPS

PPS (Positive Pay System) Service

In line with the Reserve Bank of India (RBI) guidelines to enhance customer safety and reduce fraud in cheque-based transactions, Tripura State Co-operative Bank Ltd. offers the Positive Pay System (PPS) facility to all its customers.

🔐 What is Positive Pay System (PPS)?

PPS is a mechanism developed by the National Payments Corporation of India (NPCI), wherein the issuer of the cheque shares key details of the cheque with the bank before it is presented for clearing. These details are verified by the bank before processing the cheque, ensuring an added layer of security.

✅ Features of PPS at Tripura State Co-operative Bank Ltd.:

• Available for cheques of ₹50,000 and above (mandatory for cheques of ₹5 lakh and above).
• Customers must provide details such as:

     - Cheque number

     - Cheque date

     - Payee name

     - Account number

     - Amount

• Can be submitted via:

     - Bank branch (PPS form submission)

     - Email/SMS-based formats (subject to availability)

     - Internet/mobile banking (if enabled)

📌 How to Use PPS:

• Issue a cheque to the beneficiary.
• Submit the cheque details through the prescribed mode before the cheque is presented for clearing.
• Bank verifies the details when the cheque is presented.
• If there is any mismatch, the cheque will be returned for re-verification, preventing fraudulent encashment.