{"id":86588,"date":"2020-08-18T19:55:03","date_gmt":"2020-08-18T14:25:03","guid":{"rendered":"https:\/\/factly.forumias.com\/?p=16947"},"modified":"2020-08-18T19:55:03","modified_gmt":"2020-08-18T14:25:03","slug":"reserve-bank-of-india-introduces-positive-pay-mechanism","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/reserve-bank-of-india-introduces-positive-pay-mechanism\/","title":{"rendered":"Reserve Bank of India introduces Positive Pay mechanism"},"content":{"rendered":"\n<p><strong>News: <\/strong>Reserve Bank of India(RBI) has introduced a Positive Pay mechanism to make cheque payments safer and reduce instances of frauds.<\/p>\n\n\n\n<p><strong>Facts:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>What is Positive Pay Mechanism? <\/strong>It is a fraud detection tool adopted by banks to protect customers against forged, altered or counterfeit cheques.<\/li><li><strong>How does it work? <\/strong>It cross verifies all details of the cheque issued before funds are encashed by the beneficiary. In case of a mismatch, the cheque is sent back to the issuer for examination.<\/li><li><strong>Significance: <\/strong>By following such a system, a bank knows of a cheque being drawn by the customer even before it is deposited by the beneficiary into his\/her account.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: Reserve Bank of India(RBI) has introduced a Positive Pay mechanism to make cheque payments safer and reduce instances of frauds. Facts: What is Positive Pay Mechanism? It is a fraud detection tool adopted by banks to protect customers against forged, altered or counterfeit cheques. How does it work? It cross verifies all details of&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/reserve-bank-of-india-introduces-positive-pay-mechanism\/\">Continue reading <span class=\"screen-reader-text\">Reserve Bank of India introduces Positive Pay mechanism<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[4150,394],"class_list":["post-86588","post","type-post","status-publish","format-standard","hentry","category-economy","tag-positive-pay-mechanism","tag-rbi","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86588"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86588\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}