The RBI will introduce a new mechanism from October 4 for clearance of cheques within hours of being presented to banks, PTI reported. This will reduce the current time period of up to two working ...

Reserve Bank of India will roll out a faster cheque clearance system from Oct. 4. Under the new guidelines, banks will scan, submit and clear cheques within a few hours. The new guidelines propose a ...

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 ...

(MENAFN- KNN India) New Delhi, Dec 26 (KNN) The Reserve Bank of India (RBI) has deferred the implementation of Phase 2 of its faster cheque clearance framework, which was scheduled to come into effect ...

Under the proposed Phase 2 guidelines, banks are required to clear or reject any cheque deposited over the counter within just three hours. The RBI further stated that the timing of the presentation ...

RBI postpones Phase 2 of faster cheque clearance, originally set for Jan 2026 Phase 1 of the CCS framework will continue with revised cheque processing hours Banks now have from 9 am to 7 pm to ...