Tag: Cheque Clearing
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3-Hour Cheque Clearance Takes Off: RBI Pilot and Banks’ Next-Day Rollout
What is the 3-Hour Cheque Clearance? India’s financial system is moving toward speeding up how quickly cheques are converted into cash. The Reserve Bank of India (RBI) has announced a framework aimed at clearing cheques within about three hours. In parallel, private lenders have signaled support for faster processing. The combination could reduce the traditional…
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RBI CCS: Cheque Clearing in Hours, Not Days
RBI CCS: Cheque Clearing in Hours, Not Days The Reserve Bank of India (RBI) is rolling out a tech-driven upgrade in cheque processing called the Continuous Cheque Clearing System (CCS). This system aims to replace the traditional, time-consuming cheque clearing with a faster, more predictable timeline. The rollout is being implemented in two phases, with…