The Reserve Bank of India (RBI) has taken an important decision regarding people who make payments by check. The RBI has temporarily postponed the implementation of the new system under which banks ...

(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 ...

The second phase of the cheque clearing system has been postponed until further notice to allow more time for banks to streamline their operations, the RBI said on Wednesday. Earlier, lenders were ...

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 ...