ICICI Bank will implement same-day cheque clearance starting October 4, enhancing customer convenience by crediting accounts within one working day.
This change aligns with the Reserve Bank of India’s new cheque clearing system aimed at expediting settlements.
The bank’s Positive Pay feature will add security for high-value cheques by requiring pre-confirmation for amounts over Rs 50,000, making it mandatory for cheques above Rs 5 lakh. Customers must ensure cheque details are accurate to prevent rejections. The RBI’s shift from batch to continuous clearing will occur in phases beginning October 4, 2025.
Source – sarkaritel.com
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