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 ...

Cheque Clearing Process In Banks: From 4 October 2025, there is going to be a revolutionary change in the process of cheque payment. Where earlier you had to wait for a day or two, now this work will ...

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 ...

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 ...

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 ...