From October 4, 2025 ie tomorrow, the RBI will implement a new system, which will clear your check in a few hours and transfer money to your account. The Reserve Bank of India (RBI) has announced that a new check -clearing system will be implemented from October 4, 2025. Under this system, your check will be cleared within hours and the money will reach your account quickly.
The RBI has stated that the current Cheek Truncation System (CTS) will be made faster. Now, as soon as the check is deposited in the bank, its scan copy will be sent to the clearing house immediately and then to the payment bank. From there the bank will have to approve or reject the check within the stipulated time limit. This will reduce the clearing time from 2 days to only a few hours.
The first phase will be applied from October 4, 2025 to January 3, 2026. The bank will have to allow it by 7pm after receiving the check. If the bank fails to respond on time, the check will be passed automatically.
The second phase will be implemented from January 3, 2026. Banks will have to clear in just 3 hours after receiving the check. For example, if you submit a check at 10am, it will be cleared between 1 and 2 pm.
Banks will continue to run a check presentation session from 10am to 4pm, meaning a scanned copy will be sent throughout the day. The confirmation time will be from 10am to 7pm. In the first phase, banks will have to respond by 7pm but from the second phase the clearing will be completed in just 3 hours.
Customers will benefit the most of this change. In short you will no longer have to wait 2 days for money. 'Bank' will deposit money in your account within an hour of clearing. This means that now when you deposit the check, you will get your money almost the same day.
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