T+0 cheque clearing now stable: NPCI

The Reserve Bank of India's new T+0 cheque clearing system is now stable. Initial problems encountered during the transition have been resolved. The National Payments Corporation of India is working with banks to address any remaining issues. This ensures same-day credit for presented cheques. The system was launched on October 4.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mnHRvGb
via IFTTT

Comments

Post a Comment

Popular posts from this blog

Bank transmit lending rates faster than deposit rates in September

Image
While the lending rates rose by 10-26 basis points ( one bps is 0.01 percent) in September. deposit rates rose by only 9 bps during the month. The Reserve Bank has been raising its benchmark policy repo rate-the rate at which it lends to banks since May this year as consumer price inflation has remained above the target band of 2 to 6 percent. It raised repo rates by 50 bps to 5.9 percent when the monetary policy committee met on September30, taking the cumulative rate increase since May to 190 bps. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/AEhl6pL via IFTTT
Read more

RBI cancels licence of Rajasthan-based Sumerpur Mercantile Urban Coop Bank

The RBI has cancelled the licence of Sumerpur Mercantile Urban Cooperative Bank in Pali, Rajasthan, due to inadequate capital and earning prospects. Depositors will receive deposit insurance claim amount up to Rs 5 lakh from DICGC. As on November 30, 2023, DICGC has already paid Rs 45.22 crore of the total insured deposits based on the willingness received from the depositors concerned of the bank. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PEzW9QB via IFTTT
Read more