{"id":63465,"date":"2020-03-31T16:24:47","date_gmt":"2020-03-31T11:24:47","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=63465"},"modified":"2020-07-15T12:43:56","modified_gmt":"2020-07-15T07:43:56","slug":"sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html","title":{"rendered":"SBP allows banks to use scanned images for cheque transactions amidst coronavirus pandemic"},"content":{"rendered":"\n<p>Lahore: The State Bank of Pakistan (SBP) has allows commercial banks to use scanned images for cheque transactions to control the spread of the novel coronavirus in the country, a news source reported. As per the publication, commercial banks might allow this provision to their corporate and priority customers but with agreement with the customer under proper terms and conditions. <\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/sbp-announces-debt-relief-measures-amid-coronavirus.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"SBP announces debt relief measures amid coronavirus crunch (opens in a new tab)\">SBP announces debt relief measures amid coronavirus crunch<\/a><\/p>\n\n\n\n<p>SBP stated that the banks could allow their customers to use the scanned images for cheque transactions along with relevant details of the beneficiary through emails and mobile apps to transfer funds from their accounts to the payee bank. It added that there should be a complete disclosure of the risks and liabilities while implementing this arrangement.<\/p>\n\n\n\n<p>Under this provision, SBP has also requested the paying\/drawee\nbanks to establish all necessary controls to determine the genuineness of the instrument\nand identity of the payee. Upon verification, the paying\/drawee bank may\ntransfer the funds to the beneficiary bank via MT 102 of the RTGS (PRISM). The\ncentral bank has iterated that banks must provide additional risk-mitigating\nmeasures to provide this service to the customers.<\/p>\n\n\n\n<p>To further reduce infections of the novel coronavirus outbreak, SBP has allowed\nbanks to arrange with the Clearing House (NIFT) in order to clear cheques using\nImage-Based Clearing (IBC). In this regard, they must follow the SOPs finalised\nbetween the banks and NIFT. Additionally, banks have been directed to ensure all\nthe relevant laws, rules and regulations issued by it from time to time when\nmaking such provisions. <\/p>\n\n\n\n<p>To provide further ease during the COVID-19 pandemic, banks are allowed to provide direct cheque deposit facility but with all the necessary precautions. Under this arrangement, the payee\/beneficiary may submit a crossed cheque directly into the paying\/drawee bank instead of their respective bank branc<\/p>\n\n\n\n<p>hes as is the existing practice.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a rel=\"noreferrer noopener\" aria-label=\"SPB instructs banks to waive online transaction charges in a bid to stop viral spread (opens in a new tab)\" href=\"https:\/\/www.zameen.com\/news\/spb-instructs-banks-waive-online-transaction-charges.html\" target=\"_blank\">SBP instructs banks to waive online transaction charges in a bid to stop viral spread<\/a><\/p>\n\n\n\n<p>Furthermore, banks and MFBs may set up arrangements for\ncollecting cheques from their customers\u2019 registered addresses upon request.\nCustomers may also drop the cheques in drop boxes of their banks installed at\nselect branches.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The State Bank of Pakistan (SBP) has allows commercial banks to use scanned images for cheque transactions to control the spread of the novel coronavirus in the country, a news source reported. As per the publication, commercial banks might allow this provision to their corporate and priority customers but with agreement with the customer under proper terms and conditions. Read: SBP announces debt relief measures amid coronavirus crunch SBP stated that the banks could allow their customers to use the scanned images for cheque transactions along with relevant details of the beneficiary through emails and mobile apps to transfer funds from their accounts to the payee bank. It added that there should be a complete disclosure of the risks and liabilities while implementing this arrangement. Under this provision, SBP has also requested the paying\/drawee banks to establish all necessary controls to determine the genuineness of the instrument and identity of the payee. Upon verification, the paying\/drawee bank may transfer the funds to the beneficiary bank via MT 102 of the RTGS (PRISM). The central bank has iterated that banks must provide additional risk-mitigating measures to provide this service to the customers. To further reduce infections of the novel coronavirus&hellip;<\/p>\n","protected":false},"author":68,"featured_media":60606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[24727],"persona":[],"class_list":{"0":"post-63465","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-sbp-allows-banks-to-use-scanned-images-for-cheque-transactions-amidst-coronavirus-pandemic"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP allows banks to use scanned images for cheque transactions amidst coronavirus pandemic - Zameen News<\/title>\n<meta name=\"description\" content=\"The State Bank of Pakistan (SBP) has allows commercial banks to use scanned images for cheque transactions to control the spread of the novel coronavirus in the country.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP allows banks to use scanned images for cheque transactions amidst coronavirus pandemic - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The State Bank of Pakistan (SBP) has allows commercial banks to use scanned images for cheque transactions to control the spread of the novel coronavirus in the country.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-31T11:24:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-15T07:43:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Safina Sultan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Safina Sultan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SBP allows banks to use scanned images for cheque transactions amidst coronavirus pandemic - Zameen News","description":"The State Bank of Pakistan (SBP) has allows commercial banks to use scanned images for cheque transactions to control the spread of the novel coronavirus in the country.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html","og_locale":"en_US","og_type":"article","og_title":"SBP allows banks to use scanned images for cheque transactions amidst coronavirus pandemic - Zameen News","og_description":"The State Bank of Pakistan (SBP) has allows commercial banks to use scanned images for cheque transactions to control the spread of the novel coronavirus in the country.","og_url":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html","og_site_name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2020-03-31T11:24:47+00:00","article_modified_time":"2020-07-15T07:43:56+00:00","og_image":[{"width":1170,"height":400,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg","type":"image\/jpeg"}],"author":"Safina Sultan","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Safina Sultan","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html"},"author":{"name":"Safina Sultan","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/0f7ad58ef43a9c16d70bfd31d586f512"},"headline":"SBP allows banks to use scanned images for cheque transactions amidst coronavirus pandemic","datePublished":"2020-03-31T11:24:47+00:00","dateModified":"2020-07-15T07:43:56+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html"},"wordCount":376,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg","keywords":["details on SBP allows banks to use scanned images for cheque transactions amidst coronavirus pandemic"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html","url":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html","name":"SBP allows banks to use scanned images for cheque transactions amidst coronavirus pandemic - Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg","datePublished":"2020-03-31T11:24:47+00:00","dateModified":"2020-07-15T07:43:56+00:00","description":"The State Bank of Pakistan (SBP) has allows commercial banks to use scanned images for cheque transactions to control the spread of the novel coronavirus in the country.","breadcrumb":{"@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html#primaryimage","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/SBP.jpg","width":1170,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/news\/sbp-allows-banks-use-scanned-images-cheque-transactions-coronavirus-pandemic.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/news"},{"@type":"ListItem","position":2,"name":"SBP allows banks to use scanned images for cheque transactions amidst coronavirus pandemic"}]},{"@type":"WebSite","@id":"https:\/\/www.zameen.com\/news\/#website","url":"https:\/\/www.zameen.com\/news\/","name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","description":"","publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.zameen.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.zameen.com\/news\/#organization","name":"Zameen.com","alternateName":"Zameen","url":"https:\/\/www.zameen.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","width":600,"height":300,"caption":"Zameen.com"},"image":{"@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ZameenPK","https:\/\/x.com\/ZameenProperty","https:\/\/www.instagram.com\/zameenpk\/"]},{"@type":"Person","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/0f7ad58ef43a9c16d70bfd31d586f512","name":"Safina Sultan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/41ef23ce0eab3597842e7f43d50bc919f73ac1f4e11afa5f19ca36f6e55f832f?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/41ef23ce0eab3597842e7f43d50bc919f73ac1f4e11afa5f19ca36f6e55f832f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/41ef23ce0eab3597842e7f43d50bc919f73ac1f4e11afa5f19ca36f6e55f832f?s=96&d=mm&r=g","caption":"Safina Sultan"},"description":"Safina Sultan is a Content Developer at Zameen.com.","url":"https:\/\/www.zameen.com\/news\/author\/safina"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/63465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/comments?post=63465"}],"version-history":[{"count":3,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/63465\/revisions"}],"predecessor-version":[{"id":67991,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/63465\/revisions\/67991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media\/60606"}],"wp:attachment":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media?parent=63465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/categories?post=63465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/tags?post=63465"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/persona?post=63465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}