Cheque Deposited? Faster 3-Hour Clearance Still Missing, RBI Decision May Delay Fund Access; Here’s Why
New Delhi: The Reserve Bank of India has extended the deadline for implementing its proposed three-hour cheque clearance system, pushing back the January 3 rollout “until further notice.” The move signals operational challenges among banks and payment system participants in adopting the faster settlement framework within the originally planned timeline. The new system was part…