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 ...
During 2024-25, the RBI had added 54.13 metric tonnes of gold. The Reserve Bank of India (RBI) has introduced continuous clearing and settlement of cheques throughout business hours (10 am to 4 pm).
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Banks to process cheque clearances within hours from THIS date – Here’s what RBI’s new mechanism means for you
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 ...
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Cheque payments could be speeded up if work carried out by the UK Payments Association is continued. This year, ...
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