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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 ...
Tax Guru

RBI FAQs on Cheque Clearing

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 ...
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 ...
The Financial Express

RBI postpones Phase 2 of the cheque clearing settlement

The Reserve Bank of India (RBI) on Wednesday has postponed Phase 2 of the cheque clearance journey until further notice. Phase 2 of the Continuous Clearing and Settlement on Realisation (CCSR) in the ...
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 ...