Private banks, including HDFC Bank and ICICI Bank, have informed that they will start same-day cheque clearance from October 4, following the Reserve Bank of India's (RBI) updated settlement framework ...

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 ...

RBI clarified how cheque truncation and continuous clearing speed up settlements by using electronic images instead of physical cheques. The FAQs outline timelines, safeguards, and customer ...

ICICI Bank has announced that from October 4, 2025, cheques will be cleared on the same day of presentation, in line with the Reserve Bank of India’s new guidelines on quick clearing and settlement of ...

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 ...

Mumbai: You need to see just one harried trader making his daily trip to the bank, asking whether that outstation cheque has been honoured or not, to realise how long inter-city cheque clearances take ...

Mumbai: In a landmark move, from Saturday, India’s cheque clearing system will become much faster, moving from a batch-based process to continuous clearing and settlement on realisation. This change ...