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 ...
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Cheque settlement to become faster: RBI to roll out hours-long clearance from October 4
The Reserve Bank of India (RBI) will implement a new mechanism for cheque clearance starting October 4, 2025, allowing cheques to be cleared within hours of being presented, instead of the current ...
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 Reserve Bank of India (RBI) on Wednesday said it has postponed the rollout of Phase 2 of the cheque clearing system until further notice, giving banks additional time to streamline their ...
(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 ...
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 ...
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