This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Allied Irish Bank (AIB) has become the first bank to utilise the tool, ...

RBI introduced continuous clearance under the Cheque Truncation System (CTS) to make cheque clearing faster and smoother by ...

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 ...

RBI has deferred Phase 2 of continuous cheque clearing to give banks more time, and modified presentation hours to 9 am-3 pm and confirmation hours to 9 am-7 pm ...

RBI postpones cheque clearance rule: The Reserve Bank of India (RBI) has postponed Phase 2 of its check clearance expediting scheme. The scheme was scheduled to begin on January 3, 2026. Under this ...

In a circular issued on December 24, the RBI said the second phase of the Continuous Clearing and Settlement (CCS) framework has been postponed, while Phase 1 will continue to operate as currently ...

Phase 1 of the system, which was implemented earlier this year, will continue to operate as usual. The RBI further stated that the timing of the presentation session for cheques has also been modified ...

Phase 2, which was planned to start from January 3, 2026, was meant to make cheque clearance even faster. Banks would have had three hours to approve or reject a cheque after receiving its image.

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 ...