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 ...
Mumbai: The RBI will introduce a new mechanism from October 4 for clearance of cheques within hours of being presented to banks, reducing the current time period of up to two working days. Cheques ...
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 ...
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