RBI MPC proposes process to speed up clearance of cheques in a few hours

Quick Summary:

Separately, the RBI enhanced the limit for tax payments through Unified Payments Interface from Rs 1 lakh to Rs 5 lakh per transaction.

For account holders, this means improved liquidity and the ability to manage urgent payments more effectively.

Businesses will benefit from quicker access to funds, facilitating smoother operations and better financial planning.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Cheque clearance Finance Shaktikanta Das Customer service Finance news RBI MPC meeting RBI MPC RBI RBI MPC meet Banking reforms

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-08 @ 13:11:25 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 307 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21979880

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Official Website: business-standard.com

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Coverage Areas: India

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