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RBI MPC proposes process to speed up clearance of cheques in a few hours
Update / Judgement Date
08 Aug 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Financial PlanningInsuranceWealth Transition & Succession
The RBI Monetary Policy Committee (MPC) has proposed a new process to speed up cheque clearance within a few hours. This measure aims to enhance the efficiency of the banking system, reduce transaction times, and improve overall customer experience. The initiative reflects the RBI's commitment to modernizing payment systems and supporting financial inclusion.
