A procedural misstep marred the Reserve Bank of India’s (RBI) ambitious upgrade to same-day cheque settlements. On October 3, the central bank commenced a test run of its same-day cheque clearance system, a significant technological shift intended to replace the long-standing overnight settlement cycle. However, the pilot, designed to showcase speed and efficiency, was undermined by an unexpected human-triggered premature start which revealed gaps in staff training and execution.

An official from a private sector bank said, “The technology was ready, but the staff weren’t adequately prepared.” Bankers stated that operational issues stemming from branch-specific integration gaps were observed. Cheque scanning inconsistencies emerged at some branches, possibly due to gaps in staff trainin

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