Important rules related to the bank will change from August 1! If you don't want trouble at the last moment, settle the necessary work today
With the arrival of August, many rules related to the banking system and many rules related to bank-ATMs are going to change.
The month of August is going to start from Monday. With the arrival of August, many rules related to the banking system and many rules related to bank-ATMs are going to change. You may also face some problems due to this change and may directly affect your pocket.
These rules will change from August 1 in Bank of Baroda
Following RBI guidelines on check clearance, Bank of Baroda has made some changes in its check payment rules. The bank has told its customers that the positive pay system will become mandatory for check payments of Rs 5 lakh or more from August 1. Apart from that check payment cannot be made.
What is Positive Pay System?
The Reserve Bank of India, the country's central bank, has decided to introduce a 'positive pay system' for checks in the year 2020 to prevent banking fraud. Under this system, payment of more than Rs 50,000 by check may require some key information. Through this system check information can be given through message, mobile app, internet banking or ATM. These details are checked before payment of the cheque.
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Banks will be closed for 13 days in August
Banks will be closed for 13 days in the month of August due to festivals and holidays. Major festivals like Independence Day, Rakshabandhan, Janmashtami and Ganesh Chaturthi are held in this month. So if you have any work related to the bank in August, check the list of holidays before going to the bank.
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