Key update for bank customers, cheques deposited from October 4 will be cleared on…
Banks are currently using CTS sending the electronic image and details to the drawer.
Banks in India, including Icicıcı Bank, will start on the same day Check the gap As of October 4, the Indian Reserve Bank (RBI) comes after updating the update frame for faster and safer payments. Under the new system, the deposited controls will be cleaned within a few hours on the same day. The RBI announced that the 1st stage of continuous cleaning and settlement will begin on October 4, 2025 and that the 2nd stage will begin on January 3, 2026. Customers invite the banks to use the positive payment system to increase security by banks and require key check details to be presented in advance for verification.
What is a positive payment system?
The RBI makes a positive fee compulsory for checks on RS 5 Lakh, while it is strongly recommended for people over 50.000 RS. The controls approved under positive wages are also protected under the dispute resolution system of the RBI.
What should customers do?
The account holders must provide at least 24 working hours account number, check number, date, amount and beneficiary name before depositing checks exceeding 50.000 RS. Banks will verify these details on the control presentation. If the information matches, the controls are cleaned; Otherwise, the request will be rejected and the drawer must re -send the details. Customers are required to send details for specific regional addresses by E -Posta with E -Posta. The banks will send a confirmation message after the receipt before it is processed.
What is the current system?
Check cutting system (CTS) is currently used by banks. This eliminates the need for physical transfer of controls, but when it is deposited in the drop boxes or automatic cashier machines, the settlement usually takes two working days.
How to prevent control splashes?
Customers should keep enough account balances to prevent control splashes. Correctly check the details to prevent delays or rejection.
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How to prevent rejection?
Customers are advised to ensure that all control details are correct to prevent rejection. The amount of words and numbers must match, date should be valid and should not be written on any amount or quantity of the creditor. The signature of the drawer must also match with the records of the bank.
(With inputs from Ians)
