RBI delays Phase 2 implementation of Cheque Truncation System to give banks more time to streamline operations.

The Reserve Bank of India (RBI) has postponed the January 3, 2026 deadline for implementing faster cheque clearance under its ...

Phase 2, which was planned to start from January 3, 2026, was meant to make cheque clearance even faster. Banks would have ...

In a circular issued on December 24, the RBI said the second phase of the Continuous Clearing and Settlement (CCS) framework ...

The RBI has extended the deadline to implement the second phase of faster clearance of cheques. Hence, customers can continue ...

RBI has deferred Phase 2 of continuous cheque clearing to give banks more time, and modified presentation hours to 9 am-3 pm ...

The new system was part of the RBI’s broader effort to modernise cheque-based transactions and reduce settlement delays for customers. Once fully implemented, it was expected to allow cheques to be ...

“To facilitate transition to continuous clearing, it has been decided to modify session timings and conduct special clearing in the cheque truncation system (CTS) on October 3,” RBI said. MUMBAI: The ...

There has been a spate of ads and announcements over the last 3-4 weeks by banks in India about the introduction of the new Cheque Truncation System, CTS-2010, from the new year. For the uninitiated, ...

Indian customers using cheques that are not compliant with Cheque Truncation System (CTS), an online image-based cheque clearing facility, will face delay in clearance from now on, an industry source ...

The Reserve Bank of India (RBI) announced plans to cut bank cheque clearing times to just a few hours. RBI Governor Shaktikanta Das revealed the neew continuous 'on-realisation-settlement' mechanism ...

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 ...