The RBI will introduce a new mechanism from October 4 for clearance of cheques within hours of being presented to banks, PTI reported. This will reduce the current time period of up to two working ...

New Delhi, August 20, 2025: In a major relief for millions of bank customers, the Reserve Bank of India (RBI) has announced a significant reform in the cheque clearing system. Starting October 4, 2025 ...

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 second phase of the cheque clearing system has been postponed until further notice to allow more time for banks to streamline their operations, the RBI said on Wednesday. Earlier, lenders were ...

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 ...

(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 ...

MUMBAI: The Reserve Bank (RBI) has deferred the rollout of the phase 2 of its faster cheque clearance framework, which was scheduled to be effect January 3, 2026, under which banks were to ...