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 ...

MUMBAI: The new cheque clearing system of the RBI with nationwide uniformity and much shorter time lag allowing credit/debit into/from an account within a few hours, is kicking in from today, October ...

Banks move to continuous cheque clearing from October 4, enabling near real-time settlements and quicker fund access, ...

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 ...