The Reserve Bank of India (RBI) has proposed to reduce the cheque clearing cycle from T+1 days to within a few hours, Governor Shaktikanta Das said during the MPC statement on August 8. “The clearing ...

This is a significant improvement over the previous system where there was a delay of one or two working days for the funds to be transferred Going ahead, cheques will be cleared, sooner, in a matter ...

In Phase 1, starting from October 4, there will be a single cheque presentation session between 10 am to 4 pm during which banks will scan and send cheques to the clearing house continuously. The ...

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 ...

To meet the heavy demand from the public in the wake of the demonetization of old Rs500 and Rs1,000 currency notes, banks will remain open on 12-13 November ...

Mumbai: Punjab National Bank (PNB) today signed an agreement with NCR Corporation India Pvt. Ltd. For the first image based cheque clearing system in India. This will provide clearance of intercity ...