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As on : 14-Aug-2025
Economy - Reports
14-Aug-2025     11:01

RBI notifies Continuous Clearing and Settlement on Realisation to ensure cheques are cleared within few hours

Reserve Bank of India (RBI) is introducing a system for clearance of cheques within hours of being presented to banks, reducing the current time period of up to two working days. 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. All banks are advised to make their customers adequately aware of the changes in the cheque clearing process. Banks are also advised to be in readiness to participate in continuous clearing in CTS on the above dates.

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