How is Speed Clearing an improvement over collection basis?
Outstation cheque collection through collection basis takes around one to three weeks time depending on the drawee centre. Under Speed Clearing, it would be realised on T+1 or 2 basis viz. within 48 hours. Further customers need not incur any service charge for collection of outstation cheques (value up to Rs. 1 lakh) in Speed Clearing which they may have to incur if such cheque is collected under collection basis.
Related Questions
- My firm acts as an introducing broker/dealer on a fully disclosed basis with multiple clearing firms. Can I qualify for the exclusion to OATS reporting under Rule 7410(n)?
- What are the national speed limits and will we encounter the Police on a regular basis?
- Can FAST TCP provide significant performance improvement in low speed networks?
