Good news for bank customers: RBI says banks will clear cheques within few hours from October 4
The RBI said there will be a single presentation session from 10:00 AM to 4:00 PM and cheques received by the branches shall be scanned and sent to the clearing house by the banks immediately and continuously during the presentation session.
Mumbai: Here comes a piece of good news for bank customers. The RBI says banks will clear cheques within few hours from October 4. The central bank said it 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.…