Positive Pay system for Cheque Truncation System from 1 January 2021: RBI

by Nidhi Bhati

The Reserve Bank of India (RBI) plans to rollout Positive Pay system for Cheque Truncation System (CTS) from 1 January 2021. The concept of Positive Pay involves a process of reconfirming key details of large value cheques. It will help prevent check forgery. Under this Positive Pay process, the issuer of the cheque submits electronically, through channels like SMS, mobile app, internet banking, ATM, etc, certain minimum details of that cheque like date, name of the beneficiary or payee, amount to the drawee bank. Details are cross checked with the presented cheque by CTS. The National Payments Corporation of India (NPCI) shall develop the facility of Positive Pay in CTS and make it available to participant banks. Banks shall enable the facility for all account holders issuing cheques for amounts of Rs.50,000 and above. While availing of this facility is at the discretion of the account holder, banks may consider making it mandatory in case of cheques for amounts of Rs.500,000 and above.

References
1. https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=11969&Mode=0
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
6.8 +1.3
Consumer Sentiments Index
Base September-December 2015
50.0 0.0
Consumer Expectations Index
Base September-December 2015
51.9 0.0
Current Economic Conditions Index
Base September-December 2015
47.1 0.0
Quarterly CapEx Aggregates
(Rs.trillion) Dec 19 Mar 20 Jun 20 Sep 20
New projects 5.55 3.95 0.71 0.68
Completed projects 1.66 1.75 0.24 0.64
Stalled projects 0.61 0.77 0.11 0.08
Revived projects 0.83 0.42 0.68 0.34
Implementation stalled projects 0.13 9.78 0.09 0.03
Updated on: 21 Oct 2020 8:28PM
Quarterly Financials of Listed Companies
(% change) Dec 19 Mar 20 Jun 20 Sep 20
All listed Companies
 Income -1.7 -4.9 -27.9 4.1
 Expenses -2.2 -1.8 -28.3 1.2
 Net profit -10.8 -47.3 -38.4 9.0
 PAT margin (%) 5.1 2.4 5.5 17.5
 Count of Cos. 4,435 4,264 4,155 138
Non-financial Companies
 Income -5.5 -8.9 -38.0 3.6
 Expenses -6.4 -4.9 -38.2 -0.5
 Net profit -13.9 -48.2 -57.2 10.8
 PAT margin (%) 5.7 3.4 4.4 18.1
 Net fixed assets 13.3 31.9
 Current assets 3.0 4.2
 Current liabilities 4.9 -1.2
 Borrowings 14.7 14.8
 Reserves & surplus 2.1 18.6
 Count of Cos. 3,311 3,216 3,134 101
Numbers are net of P&E
Updated on: 21 Oct 2020 8:28PM
Annual Financials of All Companies
(% change) FY18 FY19 FY20
All Companies
 Income 8.4 13.3 0.6
 Expenses 9.9 13.5 1.2
 Net profit -40.4 22.3 -19.0
 PAT margin (%) 2.0 2.4 4.4
 Assets 10.9 9.3 9.4
 Net worth 7.5 8.6 5.0
 RONW (%) 3.5 4.3 6.1
 Count of Cos. 27,922 27,039 4,480
Non-financial Companies
 Income 8.6 13.8 -2.8
 Expenses 8.8 14.0 -1.6
 Net profit -9.0 23.5 -28.4
 PAT margin (%) 2.7 3.2 4.7
 Net fixed assets 7.2 5.4 13.8
 Net worth 6.1 8.5 1.9
 RONW (%) 5.7 6.9 7.6
 Debt / Equity (times) 1.0 0.9 0.7
 Interest cover (times) 2.1 2.4 2.9
 Net working capital cycle (days) 77 70 56
 Count of Cos. 22,629 21,863 3,354
Numbers are net of P&E
Updated on: 20 Oct 2020 9:02AM