Changes in rules from August 1: LPG cylinder price, BoB payment scheme

August will be full of shocks and surprises as there will be some changes in rules, banks closed for 18 days, a change in the Bank of Baroda cheque payment system and the introduction of PPS

The month of August is set to witness some changes in rules from banks being closed for 18 days, to a change in Bank of Baroda's 

cheque payment system and an introduction to a Positive Pay System (PPS). Here's everything you need to know about these changes.

Bank of Baroda has proposed to introduce a mandatory PPS for cheques issued for amounts above Rs 5,00,000. Clients will have to digitally validate key cheque information for authentication before payment. The system will enhance the security of banking by protecting clients from fraudulent transactions.

“Committed to ensuring the security of your banking. With Positive Pay