The RBI will introduce a new mechanism from October 4 for clearance of cheques within hours of being presented to banks, reducing the current time period of up to two working days. Cheques will be ...

Cheque volumes in the UK may have dropped from four billion in 1990 to 644 million in 2014, however the introduction of the Future Clearing Model will modernise the payment method, with banks using ...

ICICI Bank has announced that from October 4, 2025, cheques will be cleared on the same day of presentation, in line with the Reserve Bank of India’s new guidelines on quick clearing and settlement of ...

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 ...

As the cheque industry gets down to work in building the Future Clearing Model (FCM) in time for the 2017 implementation, some continuing debate circulates the players as to where, and how, the ...

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 ...

Although the future of payments is digital, thanks to contactless and mobile, physical methods like cheques are still remarkably popular. For years, recipients have needed to wait up to five days for ...

If you’ve deposited a cheque in the bank and frequently had to wait for the money to arrive – possibly even up to two days – here is some great news for you. This wait has always been an inconvenience ...

Mumbai: The continuous cheque clearing system that came into effect earlier this month was meant to clear cheques within hours. This was to be achieved by banks scanning and sending images of ...

To improve the efficiency of cheque clearing and reduce settlement risk for participants, and to enhance customer experience, the RBI has decided to transition CTS from the current approach of batch ...

The RBI will introduce a new mechanism from October 4 for clearance of cheques within hours of being presented to banks, reducing the current time period of up to two working days. Photograph: Francis ...