PNB Alert: Big news for PNB customers, this big change is going to happen from April 4

Summary

PNB Will Implement New Rule From 4 April: If your account is also in Punjab National Bank (PNB), then know that a new change is going to happen in the bank from 4 April 2022. The bank is going to implement the rule of positive pay system from this date. After this the process of check clearance will change.

Expansion

PNB (Punjab National Bank), the second largest public sector bank in the country, is about to make a big change in its rules. If your account is also in this bank then this news is very special for you. According to the report, the new change is going to happen from April 4, 2022. The bank is going to implement the rule of positive pay system from this date, after which the process of check clearance will change.

Check payment verification will be mandatory
It is worth noting that since this rule applicable in PNB, it will be compulsorily verified while issuing the check for payment. Without verification the check will not be passed under any circumstances. That is, this check will be returned without verification. Let us inform that before Punjab National Bank, Bank of Baroda had implemented the positive pay-system rule on its own on February 1.

Banking fraud will be curbed
Let us tell you that there has been a significant increase in the cases of banking fraud in the last few days. In view of the increasing number of such cases, banks are changing their rules with the aim of protecting their customers. Under the new rule, now while issuing a PNB check to anyone, you will have to share the details of the check date, beneficiary name, account number, amount mentioned in the check electronically through internet banking, ATM or mobile banking or SMS. After its verification, the check will be cleared quickly and there will be no possibility of fraud.

a tool to prevent fraud
Positive pay system is also a tool to prevent banking fraud. Through this, all the information can be verified while making check payment and they can be protected from any fraud that may happen to the customers. PNB has given information about the implementation of this rule from its official website 4 April 2022. It was said in this information that if a person issues a check for an account above 10 lakhs, then PPS confirmation is necessary for his check to be passed.