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 ...

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 ...

From Saturday, India’s cheque clearing system will move to a continuous process, cutting the time it takes for money to reach accounts from days to just a few hours. RBI is replacing the current batch ...

(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 ...

(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 ...