The much-awaited operationalisation of the cheque truncation project has been pushed forward by two more months, following low compliance rate with the electronically designed cheques. The cheque ...

Things to keep in mind while writing on a cheque The RBI in FAQs of cheque truncation has mentioned certain points to be noted while writing on a cheque. Image-friendly ink: Customers should use ...

Ndung’u said the switch to electronically designed cheques — cheque truncation — in August 2011, has improved the efficiency of the clearing house. Initially, upcountry cheques would take up ...

In a circular on Friday, the Reserve Bank of India (RBI) also said normal clearing timings under Cheque Truncation System (CTS) as applicable to any working "Monday" shall be followed on March 31, ...

Currently, PPS is mandatory for cheques of ₹5 lakh and above processed through the Cheque Truncation System (CTS). Earlier, effective October 1, 2024, banks in India mandated the use of PPS for ...

The Reserve Bank of India (RBI) has cancelled the Eid-ul-Fitr holiday for banks on March 31, 2025, to facilitate year-end financial transactions. However, the Bombay Stock Exchange (BSE) and National ...

The RBI circular said, all cheques currently with customers in the old format (non-Cheque Truncation System) will continue to be valid for another four months, i.e. till July 31. "All residual non ...