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 ...

Tomorrow marks the dawn of a new era as the banking industry changes how cheques are processed and cleared. From Wednesday, Kenyan banks will electronically process and clear cheques, removing the ...

The Reserve Bank of India (RBI) has postponed the implementation of Phase 2 of Continuous Clearing and Settlement on Realisation in Cheque Truncation System (CTS) until further notice. The central ...

India’s new real-time cheque clearance system, introduced by the Reserve Bank of India to speed up payments, is facing early teething issues. Many customers have reported delays as the bank staff is ...

The Reserve Bank of India (RBI) on Wednesday said it has postponed the rollout of Phase 2 of the cheque clearing system until further notice, giving banks additional time to streamline their ...

The Reserve Bank on Wednesday postponed implementation of the second phase of the faster cheque clearance mechanism to provide more time to banks to streamline their operations. Photograph: Francis ...

MUMBAI: RBI on Wednesday postponed phase 2 of its nationwide faster cheque clearance system, citing banks’ lack of operational readiness after issues in faced by some banks in phase 1. Phase 2 of the ...

MUMBAI: The Reserve Bank (RBI) has deferred the rollout of the phase 2 of its faster cheque clearance framework, which was scheduled to be effect January 3, 2026, under which banks were to ...

Under the proposed Phase 2 guidelines, banks are required to clear or reject any cheque deposited over the counter within just three hours. The RBI further stated that the timing of the presentation ...