Positive Pay System (PPS)

The concept of Positive Pay involves a process of reconfirming key details of high value cheques. To provide customers safety in cheque payments and reduce instances of fraud occurring on account of tampering of cheque leaves, Shivalik Small Finance Bank has introduced a mechanism of Positive Pay for all cheques of value ₹50,000 and above.

Customers need to share the following details of the issued cheque

• Account Number - (Customer's Account Number)
• Cheque Number
• Beneficiary/ Payee name - (Beneficiary of the cheque issued by account holder)
• Cheque amount
• Cheque Date - (Cheque issue Date)

When the payee submits the cheque for realisation via CTS clearing, above details will be validated which have been provided to the Bank by issuer.

Customer can use the following channels to submit PPS for issued cheques:

• Bank website.
• By sharing Scan Image of cheque through registered mail id on pps@shivalibank.com
• Customer can visit the branch to validate the cheque details along with the cheque image or scan copy at the counter.

Notes:

• It is mandatory to provide PPS confirmation for cheques amounting to Rs.2,00,000/- and above.
• Inadequate or inaccurate details may result in the return of a cheque.
• To enable the Positive Pay system, the specific cheque details as outlined above should be submitted to the bank 1 day prior to cheque presentation till 6 PM.
• Only cheques that are compliant with the above instructions will be accepted under dispute resolution mechanism at the CTS grids.

Need more assistance

Call 18002025333 or visit your nearest branch.