From 2021, the system of payment by check will change

-


For more than 50 thousand payments, more details have to be given

-Check will be done before paying the amount to the party

New Delhi Dated 26th September 2020 Saturday

From the first day of next year 2021, the system of paying by check was changing. Right now someone gives a check to someone who has to pay. From January 1, there were some changes in the system of payment by check. Everyone needs to know that. It was called the Positive Pay System.

Important information will be required, especially when paying more than fifty thousand rupees. For this, the person issuing the check will have to provide additional information related to the check through means like SMS, mobile app, internet banking or ATM. Before paying the amount to the party in whose name the check is issued, the bank will once again inquire about the name of the person to be paid and the amount written in the check to confirm that the person presenting the check is the same person in whose name the check is written. Arrangements were being made to increase security in this way.

The Reserve Bank of India said the provision, however, would not be mandatory at present. The account holder who needs this facility can ask the bank for this facility. However, the system will be mandatory for checks amounting to Rs 5 lakh or more. The security of big traders and businessmen in particular was expected to increase with this facility.

The Reserve Bank of India has asked banks to inform their customers about this facility via SMS. Report this to the account holders in all your branches on the website and also in the internet banking facility. The positive pay system will be implemented from January 1.


Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...
Read more