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 ...

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 ...

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 ...

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 ...