“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 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 ...

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 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 ...

Mumbai | 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 ...

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 ...

The Reserve Bank of India (RBI) on Thursday introduced a new cheque-clearing mechanism, aimed at improving the efficiency and speed of financial transactions in the country. In a latest development, ...

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 ...

This is a significant improvement over the previous system where there was a delay of one or two working days for the funds to be transferred Going ahead, cheques will be cleared, sooner, in a matter ...

Mumbai: You need to see just one harried trader making his daily trip to the bank, asking whether that outstation cheque has been honoured or not, to realise how long inter-city cheque clearances take ...