RBI has directed banks to make customers aware of these changes so that everyone can avail the benefit of faster cheque settlement.

RBI Cheque Clearing Rule: RBI has made a major change to the cheque clearing system. Customers will now receive cheque funds within a few hours, instead of waiting for 1-2 days. The new rule comes ...

Even with their roles now made clear, the sizing of bushings and sleeves still isn’t straightforward. Fits have to survive the initial press, plus heat cycling, shaft deflection, even lubrication ...