RBI Rules: Follow THIS or your cheque will bounce
RBI Rules: Follow THIS or your cheque will bounce
Aug 7, 2021
india.com
56K views · 1.1K reactions | Same Day Cheque Clearance from Oct 4 as per RBI Guidelines | BBN Channel | Facebook
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india.com
“Stay updated on India’s banking!🔴‼️❌ RBI’s new cheque clearing rules explained! Know how the latest regulations impact you and your transactions. Cheque truncation, digitalisation, and more! Understand the changes for smoother banking. #RBIRules #ChequeClearing #BankingUpdates #FinancialLiteracy #DigitalBanking #IndiaBanking #RBI” | CMA Shabeerali ACMA ACS
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RBI’s same-day cheque clearing system went live on October 4. What used to take one or two days now happens in a few hours. Earlier, cheques cleared in fixed sessions. Now banks process them all day, between 10 AM and 4 PM. Deposit in the morning, and your money could hit your account by evening. Banks now settle cheques every hour starting 11 AM. They have until 7 PM to confirm them. After that, it’s auto-approved. Right now, we’re in phase one, running till January 2. During this time, banks g
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