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.

(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 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 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 ...

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 ...

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, ...

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 ...