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 ...

India’s new real-time cheque clearance system, introduced by the Reserve Bank of India to speed up payments, is facing early teething issues. Many customers have reported delays as the bank staff is ...

MUMBAI: RBI on Wednesday postponed phase 2 of its nationwide faster cheque clearance system, citing banks’ lack of operational readiness after issues in faced by some banks in phase 1. Phase 2 of the ...

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 ...

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 ...

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 ...

(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 ...

Stanbic IBTC Bank Plc has deployed some changes on its Cash Deposit Process and Cheque Truncation System (CTS) portal, which includes the elimination of cash and cheque deposit slips in branches.

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 ...