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 ...

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, ...

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 ...

The Reserve Bank of India (RBI) on Wednesday said it has postponed the rollout of Phase 2 of the cheque clearing system until further notice, giving banks additional time to streamline their ...

New Delhi: The Reserve Bank Of India (RBI) has issued notification on Introduction of Continuous Clearing and Settlement on Realisation in Cheque Truncation System, thus allowing for your cheques to ...

ICICI Bank to Enable Same-Day Cheque Clearance from October 4, 2025: Here’s What Customers Must Know ICICI Bank has announced a major convenience update for its customers that will significantly ...

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 ...

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 ...

RBI postpones Phase 2 of faster cheque clearance, originally set for Jan 2026 Phase 1 of the CCS framework will continue with revised cheque processing hours Banks now have from 9 am to 7 pm to ...