It will soon be possible for commercial banks to eliminate the physical movement of cheques, with images. This is expected to speed up the process of settlements and ultimately alter the clearing ...
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Banks to process cheque clearances within hours from THIS date – Here’s what RBI’s new mechanism means for you
The RBI will introduce a new mechanism from October 4 for clearance of cheques within hours of being presented to banks, PTI reported. This will reduce the current time period of up to two working ...
The Reserve Bank of India (RBI) has postponed the implementation of Phase 2 of Continuous Clearing and Settlement on Realisation in Cheque Truncation System (CTS) until further notice. The central ...
Electronic delivery is affecting almost every industry, and banking is no exception. In fact, many banks have already begun truncating checks by delivering photocopies of checks or by sending a list - ...
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 ...
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