| Notification Detail :
RBI/2025-26/73
CO.DPSS.RLPD.No.S536/04-07-001/2025-2026
August 13, 2025
The Chairman / Managing Director / Chief Executive Officer of
Banks participating in Cheque Truncation System/
National Payment Corporation of India
Dear Sir / Madam,
Introduction of Continuous Clearing and Settlement on Realisation in Cheque Truncation System
Please refer to the Statement on Developmental and Regulatory Policies dated August 8, 2024, announcing the transition of Cheque Truncation System (CTS) from the current approach of batch processing to continuous clearing with settlement on realisation.
2. It has been decided to transition CTS to continuous clearing and settlement on realisation in two phases. Phase 1 shall be implemented on October 4, 2025 and Phase 2 on January 3, 2026. The modalities for the same are given in Annex.
3. All banks are advised to make their customers adequately aware of the changes in the cheque clearing process.
4. Banks are also advised to be in readiness to participate in continuous clearing in CTS on the above dates.
5. This directive is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
Yours faithfully,
(Saurabh Nath)
Chief General Manager
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