In CTS, banks use scanned copies of cheques for settlement instead of the physical copy making the clearing process partially electronic Clearing of bank cheques is set to become faster. In its sixth ...

RBI introduced continuous clearance under the Cheque Truncation System (CTS) to make cheque clearing faster and smoother by ...

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 ...

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.

The Reserve Bank of India (RBI) will implement a new mechanism for cheque clearance starting October 4, 2025, allowing cheques to be cleared within hours of being presented, instead of the current ...

The new system was part of the RBI’s broader effort to modernise cheque-based transactions and reduce settlement delays for ...

Despite postponing Phase 2, the Reserve Bank of India (RBI) has revised the daily operating hours under the Cheque Truncation ...

India's cheque clearing system is set for a major overhaul from October 4, transitioning to a continuous, near real-time process. This significant change will drastically reduce fund transfer times ...

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 ...

RBI postpones cheque clearance rule: The Reserve Bank of India (RBI) has postponed Phase 2 of its check clearance expediting scheme. The scheme was scheduled to begin on January 3, 2026. Under this ...

The Reserve Bank of India (RBI) on Thursday introduced a new cheque-clearing mechanism, aimed at improving the efficiency and speed of financial transactions in the country. In a latest development, ...

Mumbai: Punjab National Bank (PNB) today signed an agreement with NCR Corporation India Pvt. Ltd. For the first image based cheque clearing system in India. This will provide clearance of intercity ...