RBI's New Cheque Clearing System: Starting today, October 4, 2025, India's cheque clearing system is getting a major upgrade. The Reserve Bank of India (RBI) is replacing the traditional batch-based ...

The Reserve Bank of India (RBI) on Wednesday said it has postponed the rollout of Phase 2 of the cheque clearing system until further notice, giving banks additional time to streamline their ...

In a welcome step, the Reserve Bank of India (RBI) has made a major change in the process of clearing checks. From October 4, 2025, checks will now be paid in a few hours, whereas it used to take a ...

RBI's new rule to expedite cheque clearing in banks. (Image: PTI) The Reserve Bank of India (RBI) has decided to put in place a new system to clear cheques, reducing the clearing time from 2-3 days to ...

Mumbai: The Reserve Bank of India (RBI) on Wednesday announced a revamp of the Cheque Truncation System to speed up cheque clearance and settlements. Under the new system, from October 4 cheques will ...

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. Photograph: Francis ...

From October 1, 2025, several banks, government departments, and regulatory bodies in India will implement key updates, ranging from banking charges, NPS pension rules to RBI cheque clearing charges.

The RBI announced on Wednesday the introduction of continuous clearing and settlement of cheques, dropping the current approach of batch processing. Under the new system, the clearing cycle will be ...

Mumbai: 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 ...

In Phase 1, starting from October 4, there will be a single cheque presentation session between 10 am to 4 pm during which banks will scan and send cheques to the clearing house continuously. The ...

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.