Hosted on MSN

Cheque settlement to become faster: RBI to roll out hours-long clearance from October 4

The Reserve Bank of India (RBI) will implement a new mechanism for cheque clearance starting October 4, 2025, allowing cheques to be cleared within hours of being presented, instead of the current ...
Finextra

Future Cheque Clearing Model Places Emphasis on Speed and Innovation

Cheque volumes in the UK may have dropped from four billion in 1990 to 644 million in 2014, however the introduction of the Future Clearing Model will modernise the payment method, with banks using ...
Hosted on MSN

ICICI Bank to clear cheques same day from October 4, 2025: What customers must know

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 ...
Zee Business

RBI gives banks more time to roll out quicker cheque clearance in phase 2

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 ...
Mena FN

RBI Gives Banks More Time To Roll Out Quicker Cheque Clearance In Phase 2

(MENAFN- IANS) Mumbai, Dec 24 (IANS) The Reserve Bank of India (RBI) announced on Wednesday that it has postponed the implementation of Phase 2 of the faster cheque clearance framework by banks, which ...