The new system was part of the RBI’s broader effort to modernise cheque-based transactions and reduce settlement delays for ...

Indian customers using cheques that are not compliant with Cheque Truncation System (CTS), an online image-based cheque clearing facility, will face delay in clearance from now on, an industry source ...

Phase 1 of the system, which was implemented earlier this year, will continue to operate as usual. The RBI further stated ...

Starting October 1, several changes are slated to kick in, involving government departments, banks, and even some of the regulatory bodies in India. The changes include NPS pension rules, banking ...

Dubai: Indian expats in the UAE who still use cheques for transactions back home will soon see money move faster, thanks to a major upgrade in India’s cheque clearance process. The Reserve Bank of ...

In Phase 1, starting from October 4, there will be a single cheque presentation session between 10 am to 4 pm during which banks will scan and send cheques to the clearing house continuously. The ...