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 ...

In a welcome step, the Reserve Bank of India (RBI) has made a major change in the process of clearing checks. From October 4, 2025, checks will now be paid in a few hours, whereas it used to take a ...

Tomorrow marks the dawn of a new era as the banking industry changes how cheques are processed and cleared. From Wednesday, Kenyan banks will electronically process and clear cheques, removing the ...

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 ...

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 ...