The Reserve Bank of India (RBI) has announced that bank cheques must be cleared within a few hours from October 4 -- down from the current clearance time of up to two working days. Under the new ...

With market research confirming that consumer understanding of the cheque clearing process is still very low, the Cheque and Credit Clearing Company (C&CCC), has today (27 November 2009) launched an ...

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 ...

These mechanisms would help regulators and institutions align to supervise AI outcomes, detect weaknesses before they escalate, and ensure that AI-driven decision-making can be understood and, if ...

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 ...

An image-based cheque-clearing system will be introduced later this year that will cut the time it takes for money to reach your account from up to six working days to the next weekday. The new system ...

New guidelines are introduced for online reservation of general tickets through the website and mobile app of Indian Railway Catering and Tourism Corporation (IRCTC). The reforms aim to enhance the ...