8/8/2024, 1:38:03 pm

RBI proposes same-day cheque clearance. Here's what it means for customers

The Reserve Bank of India plans to introduce same-day cheque clearance, reducing settlement risk and wait times for customers. Currently, cheque clearing takes up to two working days; the proposed continuous clearing approach will scan and clear cheques throughout business hours, resulting in faster clearance cycles of just a few hours.