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RBI Overhauls Cheque Clearing; Same-Day Processing From October 4

The Reserve Bank of India (RBI) has announced that bank cheques must be cleared within a few hours from October 4 -- down from the current clearance time of up to two working days. Under the new ...
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Banks to clear cheques within few hours from Oct 4: RBI

Mumbai: The RBI will introduce a new mechanism from October 4 for clearance of cheques within hours of being presented to banks, reducing the current time period of up to two working days. Cheques ...
Tax Guru

RBI FAQs on Cheque Clearing

RBI clarified how cheque truncation and continuous clearing speed up settlements by using electronic images instead of physical cheques. The FAQs outline timelines, safeguards, and customer ...
Mena FN

RBI Gives Banks More Time To Roll Out Quicker Cheque Clearance In Phase 2

(MENAFN- IANS) Mumbai, Dec 24 (IANS) The Reserve Bank of India (RBI) announced on Wednesday that it has postponed the implementation of Phase 2 of the faster cheque clearance framework by banks, which ...