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 CTS, banks use scanned copies of cheques for settlement instead of the physical copy making the clearing process partially electronic Clearing of bank cheques is set to become faster. In its sixth ...

The days of long cheque settlement processes are numbered as commercial banks eye a new technology system that aims at improving efficiency in the banking system. Banks will now be able to scan ...

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 ...

During 2024-25, the RBI had added 54.13 metric tonnes of gold. The Reserve Bank of India has introduced real-time clearing of cheques. However, technology integration glitches, inadequate training of ...