Tag: Check Clearing
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RBI CCS: Continuous Check Clearing in Hours for Banks
What is RBI CCS? The Reserve Bank of India (RBI) has introduced the Continuous Check Clearing System (CCS) to reinvent how cheques are processed. Historically, cheque clearances could stretch over days; with the new CCS, cheques submitted within the designated banking hours begin a continuous processing cycle, aiming to credit the recipient’s cash account within…
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RBI CCS: A Banking Revolution with Real-Time Check Clearing
RBI CCS: A Banking Revolution with Real-Time Check Clearing India’s banking sector is witnessing a transformative leap with the introduction of the Continuous Check Clearing System (CCS) by the Reserve Bank of India (RBI). While widespread digital banking has already brought near-instant transfers and seamless online services, traditional paper checks have lagged behind. CCS bridges…