From days to just 4 hours, cheque clearing to get faster from this day; Check RBI's 2-phase plan

Under the new system, each cheque will contain the 'Item Expiry Time' which indicates the latest time by which confirmation for the presented instrume...

Come October 2025, the Reserve Bank of India (RBI) will make it possible for cheques to clear within hours instead of days. From that month, cheque pr...

The Reserve Bank of India (RBI) is set to revolutionize cheque clearing, aiming for same-day credit through continuous clearing and settlement startin...

The RBI decided to transition CTS from batch processing to continuous clearing with 'on-realisation-settlement' to improve the efficiency of cheque cl...

Under the new mechanism, the banks will scan, present and pass cheques within a few hours and on a continuous basis during the business hours, cutting...

The Reserve Bank of India (RBI) has announced to convert the Check Truncation System (CTS) into Continuous Clearing and Settlement on Realization. Thi...

The RBI said the cheques received by drawee banks between 10:00 AM and 11:00 AM will have to be confirmed positively or negatively by them by 2:00 PM,...

MUMBAI: 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 cle...