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 ...

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 ...

ICICI Bank has announced that from October 4, 2025, cheques will be cleared on the same day of presentation, in line with the Reserve Bank of India’s new guidelines on quick clearing and settlement of ...

The Reserve Bank on Wednesday postponed implementation of the second phase of the faster cheque clearance mechanism to provide more time to banks to streamline their operations. Photograph: Francis ...

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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 ...

(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 ...

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 ...

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 ...