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 ...

New Delhi, August 20, 2025: In a major relief for millions of bank customers, the Reserve Bank of India (RBI) has announced a significant reform in the cheque clearing system. Starting October 4, 2025 ...

The Reserve Bank on Wednesday postponed implementation of the second phase of the faster cheque clearance mechanism to provide more time to banks to streamline their operations. Photograph: Francis ...

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 ...

MUMBAI: The Reserve Bank (RBI) has deferred the rollout of the phase 2 of its faster cheque clearance framework, which was scheduled to be effect January 3, 2026, under which banks were to ...