Cheque volumes in the UK may have dropped from four billion in 1990 to 644 million in 2014, however the introduction of the Future Clearing Model will modernise the payment method, with banks using ...

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 will be ...

MUMBAI: The new cheque clearing system of the RBI with nationwide uniformity and much shorter time lag allowing credit/debit into/from an account within a few hours, is kicking in from today, October ...

During 2024-25, the RBI had added 54.13 metric tonnes of gold. The Reserve Bank of India has introduced real-time clearing of cheques. However, technology integration glitches, inadequate training of ...

Questions are emerging over the efficiency of the much touted cheque truncation system. It had been expected that with the new system in place, bank customers countywide would enjoy shorter cheque ...

As the cheque industry gets down to work in building the Future Clearing Model (FCM) in time for the 2017 implementation, some continuing debate circulates the players as to where, and how, the ...

In a circular issued on December 24, the RBI said the second phase of the Continuous Clearing and Settlement (CCS) framework has been postponed, while Phase 1 will continue to operate as currently ...

Mumbai: The continuous cheque clearing system that came into effect earlier this month was meant to clear cheques within hours. This was to be achieved by banks scanning and sending images of ...

Although the future of payments is digital, thanks to contactless and mobile, physical methods like cheques are still remarkably popular. For years, recipients have needed to wait up to five days for ...

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. Photograph: Francis ...

To improve the efficiency of cheque clearing and reduce settlement risk for participants, and to enhance customer experience, the RBI has decided to transition CTS from the current approach of batch ...