Questions are emerging over the efficiency of the much touted cheque truncation system. It had been expected that with the new system in place, bank customers countywide would enjoy shorter cheque ...

Mumbai: The RBI will introduce a new mechanism from October 4 for clearance of cheques within hours of being presented to banks, reducing the current time period of up to two working days. Cheques ...

Electronic delivery is affecting almost every industry, and banking is no exception. In fact, many banks have already begun truncating checks by delivering photocopies of checks or by sending a list - ...

The cheque Truncation System (CTS) was initially scheduled to go live in June, but was pushed forward to August 15 following low compliance rate. This was attributed to printing constraints, which ...

Electronic clearing (e-clearing), which is being implemented only at banks’ headquarters, will be extended to the branches between July and September. The extension is subject to the approval of the ...