The Reserve Bank of India (RBI) has announced that bank cheques must be cleared within a few hours from October 4 -- down from the current clearance time of up to two working days. Under the new ...

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

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 ...