Moradabad/Bijnor (UP), Apr 17: Samajwadi Party president Akhilesh Yadav on Wednesday claimed that the BJP has given the '400 par' slogan for the Lok Sabha polls as they want to "change" the Constitution of the country and "take away" the right to vote from people.
Addressing an election rally here in support of Ruchi Veera, the SP candidate from Moradabad, Yadav said, "If the government works as per the Constitution, no prejudice can be done against any community or group. But ever since the BJP has come to power, the government has not done justice with people."
Yadav recalled the protest by farmers against the now-repealed farm laws and said, "The government has taken back the farm laws. But the way BJP leaders are using the '400 par' slogan...if they come to power, it is possible that they will change the Constitution. They can even snatch our right to vote."
The former Uttar Pradesh chief minister also attacked the BJP-led Centre over demonetisation and electoral bonds.
SP candidate Veera also alleged that the BJP wants to change the Constitution. "The election this time is to safeguard democracy."
Stating that she was born and brought up in Moradabad, Veera sought votes from all sections of society and people of all communities.
"I am thankful to my Muslim brothers and sisters who have given me such respect and confidence that, along with Hindu brothers and sisters, will ensure a victory for the SP. We will defeat the BJP," she said.
Later, the SP chief, along with AAP Rajya Sabha MP Sanjay Singh, also held a rally in Nagina, Bijnor.
Addressing the rally, the AAP leader attacked the BJP over various issues.
"When Akhilesh Yadav ji attends any election meeting, he talks of making schools, ambulance service and unemployment allowance. Contrary to him, when the prime minister addresses any rally he talks of 'shamshan' and 'kabristan'," he said.
Praising the work done in UP during Yadav's regime, Singh said that he made expressways, hospitals and schools, and improved police response.
"We don't need 'shamshan', we need schools for children and hospitals," he added.
Polling in Moradabad and Bijnor will be held in the first phase of Lok Sabha elections on April 19.
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Mumbai, Aug 13 (PTI): The RBI will introduce a new mechanism from October 4 for clearance of cheques within hours of being presented to banks, reducing the current time period of up to two working days.
Cheques will be scanned, presented, and passed in a few hours and on a continuous basis during business hours. The clearing cycle will be reduced from the present T+1 days to a few hours.
Cheque Truncation System (CTS) currently processes cheques with a clearing cycle of up to two working days.
To improve the efficiency of cheque clearing and reduce settlement risk for participants, and to enhance customer experience, the RBI has decided to transition CTS from the current approach of batch processing to continuous clearing with 'on-realisation-settlement'.
The Reserve Bank of India (RBI) has issued a circular for introduction of Continuous Clearing and Settlement on Realisation in CTS.
"It has been decided to transition CTS to continuous clearing and settlement on realisation in two phases. Phase 1 shall be implemented on October 4, 2025 and Phase 2 on January 3, 2026," it said.
There will be a single presentation session from 10:00 AM to 4:00 PM.
Cheques received by the branches shall be scanned and sent to the clearing house by the banks immediately and continuously during the presentation session, RBI said.
"For every cheque presented, the drawee bank shall generate either positive confirmation (for honoured cheques) or negative confirmation (for dishonoured cheques)," it said.
During Phase 1 (from October 4, 2025 to January 2, 2026), drawee banks will be required to confirm (positively/negatively) cheques presented on them, latest by the end of the confirmation session (7:00 PM), else those will be deemed to have been approved and included for settlement.
In Phase 2 (from January 3, 2026), the item expiry time of cheques shall be changed to T+3 clear hours.
Giving an example, the RBI said the cheques received by drawee banks between 10:00 AM and 11:00 AM will have to be confirmed positively or negatively by them by 2:00 PM (3 hours from 11:00 AM).
Cheques for which confirmation is not provided by the drawee bank in the prescribed 3 hours shall be treated as deemed approved and included for settlement at 2:00 PM.
RBI further said that on completion of settlement, the clearing house will release the information of positive and negative confirmations to the presenting bank.
"The presenting bank shall process the same and release the payment to the customers immediately, but not later than 1 hour from successful settlement, subject to usual safeguards," it said.
RBI directed banks to make their customers adequately aware of the changes in the cheque clearing process.
Banks have also been asked to be in readiness to participate in continuous clearing in CTS on the prescribed dates.