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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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