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 ...

In fact, the Reserve Bank is implementing cheque clearance in two phases. The first phase, which began on October 4th, will allow cheques deposited in the morning to be cleared within a single day.

The Reserve Bank of India (RBI) on Wednesday said it has postponed the rollout of Phase 2 of the cheque clearing system until further notice, giving banks additional time to streamline their ...

The Reserve Bank of India (RBI) has deferred the rollout of the second phase of its faster cheque clearance framework, which was scheduled to take effect from January 3, 2026. Under the second phase, ...

The second phase of the cheque clearing system has been postponed until further notice to allow more time for banks to streamline their operations, the RBI said on Wednesday. Earlier, lenders were ...

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