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New system kicks in; cheque clearance now within hours
October 05, 2025
|The New Indian Express
THE Reserve Bank of India's new cheque clearing system, offering nationwide uniformity and much shorter processing times, came into effect on October 4.
The upgraded system enables credit or debit to accounts within a few hours, compared with the earlier 1-2 business days.
According to the RBI, the new framework allows for continuous, time-bound processing of cheques. This marks a major improvement over the existing batch-based system, ensuring quicker settlements, simplified tracking, and greater transparency while reducing settlement risks for banks.
هذه القصة من طبعة October 05, 2025 من The New Indian Express.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
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