Tag: Cheque Clearance
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RBI 3-Hour Cheque Clearance: Same-Day Processing Comes to Indian Banks
What the RBI’s 3-Hour Cheque Clearance Means India’s central bank is steering cheque transactions toward a faster, more predictable settlement timeline. The RBI has announced a framework that aims to clear many cheque transactions within about three hours of deposit. This marks a significant shift from the traditional two-day or longer waiting period that many…
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3-Hour Cheque Clearance: RBI and Banks Roll Out Cheques
What is changing with 3-Hour Cheque Clearance? India’s cheque processing landscape is evolving. The Reserve Bank of India (RBI) has introduced a 3-hour cheque clearance framework, aiming to convert cheque deposits into available cash within a few hours rather than the traditional 24- to 48-hour window. This shift could significantly improve cash flow for individuals…