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RBI Asks Banks To Clear Cheque Within Hours From October 4
The New Indian Express Thrissur
|August 16, 2025
To improve customer convenience by reducing settlement risks and moving to a faster, real-time clearing process (apart from electronic format of NEFT and RTGS), the Reserve Bank has asked banks to clear cheques within hours starting October 4.
Currently, the cheque truncation system (CTS) clears cheques in one or two working days, depending on when they are presented. With the new system, the central bank said it will roll out a new system from October 4, 2025, which aims at improving customer convenience and reduce settlement risks by moving to a faster, real-time clearing pro
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