“To facilitate transition to continuous clearing, it has been decided to modify session timings and conduct special clearing in the cheque truncation system (CTS) on October 3,” RBI said. MUMBAI: The ...

The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from ...

Tomorrow marks the dawn of a new era as the banking industry changes how cheques are processed and cleared. From Wednesday, Kenyan banks will electronically process and clear cheques, removing the ...

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 ...

Mumbai, Mar 15 () The Reserve Bank on Monday asked banks to implement the image-based Cheque Truncation System (CTS) in all branches by September 30, a move aimed at faster settlement of cheques ...

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 ...

In a bid to further revolutionalise the domestic payment system, the Reserve Bank of India is launching the cheque truncation facility on Thursday. The banks are quite enthusiastic towards a pilot ...

In Phase 1, starting from October 4, there will be a single cheque presentation session between 10 am to 4 pm during which banks will scan and send cheques to the clearing house continuously. The ...

New Delhi: The Reserve Bank of India (RBI) is set to implement same-day cheque clearing mechanism, effectively from from, October 4, to enable cheque clearance within a few hours of being presented, ...

Announcing the monetary policy statement on Thursday, Reserve Bank of India governor Shaktikanta Das said that the cheque-clearing cycle will be reduced from the current two business days to a few ...

In CTS, banks use scanned copies of cheques for settlement instead of the physical copy making the clearing process partially electronic Clearing of bank cheques is set to become faster. In its sixth ...

Mumbai: Punjab National Bank (PNB) today signed an agreement with NCR Corporation India Pvt. Ltd. For the first image based cheque clearing system in India. This will provide clearance of intercity ...