RBI realtime cheque clearance system: Customers complain of delays; bank staff not fully trained

India’s new real-time cheque clearance system, introduced by the Reserve Bank of India to speed up payments, is facing early teething issues.Many customers have reported delays as the bank staff is struggling with new processes, and technical glitches are affecting cheque processing, ET reported.The first phase of the continuous clearing and settlement process under the…

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Son waits years for bank job on compassionate grounds after father’s untimely death; Allahabad High Court denies job, orders bank to give INR 1 lakh–Here’s why

In a recent ruling, the Allahabad High Court ordered a public sector bank to pay INR 1 lakh compensation to a petitioner, who waited for years for it, instead of giving him a job on compassionate grounds after the untimely death of his father– who was an employee in the bank. While the court observed…

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