Sharing of cheque details under the Positive Pay System

	Dear Customer, We write to you in relation to the RBI circular dated Sep 25, 2020 on the “Positive Pay System for Cheque Truncation System” (“Circular”). We hereby inform you that through the Circular, RBI has introduced the Positive Pay System (“System”) for all account holders issuing cheques for amounts of ₹50,000 and above. Further, RBI has made system (compliance) mandatory in case of cheques for amounts of ₹5,00,000 and above. As per the Circular, the issuer of the cheque (“Issuer”) shall share the details of the cheque (like cheque number, date, amount and beneficiary name) with their respective banks, while issuing the cheques. The Cheque clearing bank shall pass such cheques only after due validation of the details provided by the Issuer. We have enabled multiple modes through which the cheque details can be shared, with the Bank, such as Corporate Internet Banking (“CIB”) or the InstaBIZ Mobile Banking app (“InstaBIZ”). In view of the above, only those cheques, which are compliant with the above instructions shall be accepted under the dispute resolution mechanism at the Cheque Truncation System grids. Further to this, in the event of clearance of any fraudulent cheque, ICICI Bank shall not be held liable if the details of the cheque were not updated in the System. It shall be the sole responsibility of the Issuer to resolve the matter with the concerned parties. In our endeavour to provide a seamless service, we request you to update all such details of the cheque in the system through CIB/InstaBIZ, at the time of issuance of the cheque. For any further information, you may call our Customer Care or contact the Account Manager or Relationship Manager at your nearest ICICI Bank Branch.   Sincerely, ICICI Bank Ltd.   This is an auto generated e-mail. Please do not reply.
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