Bank Cheque
The Reserve Bank of India has changed the rules related to the check crusure. The new rule has come into force today i.e. from 4 October 2025. Under the new rule, the check of customers will now be cleared in a few hours. Earlier it used to take up to 2 days. RBI said that there will be a single presentation session, in which the check will have to be presented from 10 am to 4 pm. Under this, the bank receiving the check will have to scan the check and send it to the Curiological House.
Clearing House, photos of the check will release those banks on a constant basis, where each check will be disposed of, instead of the current T+1-day clearing cycle, can be done on the basis of almost real-time. Grant Thornton India partner and financial service risk chief Vivek Iyer said that the move would ensure that the amount deposits in a few hours, which will give customers quickly access to funds.
First phase
This will benefit those areas where digital infrastructure is not fully prepared yet. Back-and technology of banks has also been upgraded so that the new system can be easily transmitted. It has been started in two phases. The first phase will be from October 4, 2025 to January 2, 2026. During this time, banks who will get checks will have to confirm the check till the confirmation session is over. If the check is not confirmed in this time, it will be accepted and included for settlement. In this phase, the item expiry time of all checks will be at 7 pm.
The second phase will start from January 3, 2026, in which the item expiry time of the check will be changed to T+3 hours. If a check is not confirmed in three hours, it will be accepted and will be included for settlement at 2 pm. Based on positive confirmation and accepted checks of banks, settlements will be released every hour from 11 am to the end of the confirmation session. Presenter banks will process these settlements and after normal security checks, will pay the customers within an hour of successful settlement. Under the Czech Trencing System (CTS), FY 25 had 609.54 million transactions in FY 25, which had a total value of Rs 71.13 trillion. At the same time, the price of transactions in FY 26 has reached ₹ 29.39 trillion so far.