Bank Check and RBI Rules: After the new rules of the Reserve Bank of India (RBI), now the process of check clearing has started very fast in banks across the country. Now customers do not have to stand in long queues to clear cheques. After the rules of Reserve Bank of India, this problem of customers has completely ended. All major banks including HDFC and ICC Bank have completely adopted this new system.

According to the information, under the new rules of RBI, the process of check clearing is now completed in one day i.e. your check will be cleared within a day. This process is divided into two main sessions. In which first of all, the banks scan the checks deposited by all the customers between 10 am to 4 pm and send them to the clearing house. So, after this process, the bank from which the money is to be deducted will have to give its confirmation by 7 pm. Not only this, there is an ‘item expiry time’ fixed for every cheque, due to which there is absolutely no scope for any kind of delay.

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Talking about the second process, it has been made mandatory to use Positive Pay System to make bank checks more secure as well as solid, under which for checks worth more than Rs 50 thousand, it will be very important for the account holders to give the photo of the check to the bank in advance. Keep in mind that banks try to match these details while clearing the cheque. If the information is correct, the payment is easily successful without any hassle.

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Important instructions issued for customers

In fact, in such a situation, the bank has issued important instructions to all the customers and said that whenever you issue a cheque, always keep in mind that there is already sufficient balance in your bank. Along with this, fill all the details on the check clearly and correctly so that the check does not get rejected due to technical reasons.