In 2006, when the Office of Fair Trading looked into the possibility of speeding up the time it would take to clear cheques ... “We are looking at how the process will be managed, and one ...

The Reserve Bank today said that the Cheque Truncation System (CTS), which is currently operational at the major clearing houses of the country, will be made operational across India by September ...

If you’re writing a cheque for a large amount, just signing and handing it over is no longer enough. Banks have made it ...

This expedited process is expected to bring cheque clearing on par with other rapid payment methods like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate ...

Manama, Kingdom of Bahrain - 3 rd August 2009 -The Central Bank of Bahrain (CBB) is pleased to announce the introduction of a uniform set of cheque standards and specifications for designing and ...

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The cheque clearing process is one of the most voluminous banking transactions. Globally, more than 60 billion cheques are written manually. In Qatar, we have about 1.6 million cheques written per ...

In the UK, for instance, HSBC has introduced machines in certain branches that use imaging technology to begin the cheque-clearing process. A customer inserts a cheque into the machine ...

People will no longer have to wait nearly a week for banks to clear cheque payments after a change in the law later this year. The Government wants to change the law to allow banks to process ...

The Reserve Bank of India (RBI) has announced a major change in the cheque-clearing process. RBI Governor Shaktikanta Das announced this new initiative during the Monetary Policy Committee (MPC ...

It’s a much quicker process than the old method. This involved the physical transfer of paper cheques from one bank to another via a clearing centre. So, that’s how the amount of time it takes ...

It makes the cheque clearing process partially electronic. The CTS makes clearing cycle shorter. The verification and reconciliation process is also superior to the physical settlement of cheques.