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 ...

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 ...

The Reserve Bank on Wednesday postponed implementation of the second phase of the faster cheque clearance mechanism to provide more time to banks to streamline their operations. Photograph: Francis ...

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 ...

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 ...

(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 ...

MUMBAI: The Reserve Bank (RBI) has deferred the rollout of the phase 2 of its faster cheque clearance framework, which was scheduled to be effect January 3, 2026, under which banks were to ...