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Banks to clear cheques on same day from Oct 4 over RBI guidelines
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morungexpress.com
Cheques deposited from October 4 will be cleared within a few hours on the same day under the new system.
Both banks have urged customers to keep adequate balances to prevent cheque bounce and to ensure all cheque details are accurately filled to avoid delays or rejections.
Customers are also urged by the banks to use the Positive Pay System to enhance security, requiring prior submission of key cheque details for verification.
Customers are required to email cheque details to specific regional addresses.
Customers are advised to ensure all cheque details are accurate to avoid rejection.