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    Question

    In the Positive Pay System, confirmation is mandatory

    for cheques issued for Rs. ______ & above.
    A 5 lakh Correct Answer Incorrect Answer
    B 10 lakh Correct Answer Incorrect Answer
    C 15 lakh Correct Answer Incorrect Answer
    D 20 lakh Correct Answer Incorrect Answer
    E 26 lakh Correct Answer Incorrect Answer

    Solution

    Positive pay system A positive pay system is a measure by the RBI to prevent frauds perpetrated through cheque payments in the form of tampering or alteration of the cheque.

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