RBI New Check Processing Rules: From October 4, RBI is going to implement the new ‘Continuous Clearing and Settlement’ system. Now on depositing the check, the money will come to your account in a few hours. For large checks, it is necessary to give details to the bank 24 hours in advance.
Rbi cheque clearance new rules: If you do banking transactions, then this news is very useful for you. The Reserve Bank of India (RBI) has made a major change in the check clearance system. Now after depositing the check, the money will reach your account in a few hours. Now you do not need to wait for two days for this. The new rule is coming into effect from Saturday, 4 October 2025.
What is the new system of check clearance?
The new system will be under the ‘Continuus Clearing and Settlement’. Under this, banks will scan the check, present immediately and pass the working hours. Banks have started a trial of this system from today itself. This will save time. As soon as the check is cleared, the money will immediately come to the account.
What do you have to do to get the check cleared?
Many private banks, including HDFC and ICICI, have told the customers that Saturday’s check will be cleared on the same day. In such a situation, they should keep sufficient balance in their account, fill the check details correctly, give the details to the bank 24 hours before the check of more than Rs 50,000. It is also necessary to use positive pay systems. In this, you will have to give account number, check number, date, amount and the name of whom you are giving checks. If all details match, the money will be cleared. Otherwise the check can be rejected.
How many hours will the check money get?
In most cases, money will be received on the same day. On depositing the check in the morning, the money will come to the account by noon or evening. This change has been made to make the check transaction system (CTS) faster. The check deposited from 10 am to 4 pm will be scanned and sent for clearing. There will be a settlement between the bank every hour from 11 am. If a bank does not respond by 7 pm, the check will be automatically approved.
Will the new rule of check clearance be applicable across the country?
Three grids of the Reserve Bank will apply these rules in all banks across the country under Delhi, Mumbai and Chennai. It will be implemented in two phases. First from October 4, 2025 to 2 January 2026, banks will have to clear the check by 7 pm. At the same time, banks will have to confirm in just 3 hours from 3 January 2026 in the second phase.
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