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 ...

Mumbai: 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 ...

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 ...

MUMBAI: The Reserve Bank (RBI) has deferred the rollout of the phase 2 of its faster cheque clearance framework, which was scheduled to be effect January 3, 2026, under which banks were to ...

(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 ...

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 ...