The correct answer is National Payments Corporation of India. Explanation & Key Takeaways: Positive Pay System (PPS): • It is a fraud detection tool adopted by banks to protect customers against forged, altered or counterfeit cheques. • It cross-verifies all details of the issued cheque before funds are encashed by the beneficiary. • The concept of Positive Pay involves a process of reconfirming key details of large-value cheques. • It ensures that every high-value cheque valued at Rs 50,000 and above is crossed checked with details provided by the issuing party or the individual. • This will cover approximately 20 per cent of transactions by volume and 80 per cent by value. • The National Payments Corporation of India (NPCI) will develop the facility of Positive Pay in the Cheque Truncation System (CTS) and make it available to participant banks. • Private sector lender ICICI Bank adopted this feature in 2016 for all cheques, irrespective of the amount, via its mobile application. • Under this process, the issuer of the cheque submits electronically, through channels like SMS, mobile app, Internet banking and ATM, certain minimum details of that cheque (like date, name of the beneficiary, or payee and amount) to the drawee bank, details of which are cross-checked with the presented cheque by Cheque Truncation System (CTS).