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Same-Day cheque Clearing: Cheque will be cleared within 3 hours from this day, a major relief for customers with RBI's new system.

In fact, the Reserve Bank is implementing cheque clearance in two phases. The first phase, which began on October 4th, will allow cheques deposited in the morning to be cleared within a single day.
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RBI postpones phase 2 cheque clearing, modifies presentation and confirmation hours

RBI Guidelines For Cheque Clearing Time: The Reserve Bank of India (RBI) said on Wednesday that it has delayed the rollout of Phase 2 of the faster cheque clearance system by banks. The new phase was ...