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 ...

RBI clarified how cheque truncation and continuous clearing speed up settlements by using electronic images instead of physical cheques. The FAQs outline timelines, safeguards, and customer ...

In fact, the Reserve Bank is implementing cheque clearance in two phases. The first phase, which began on October 4th, will allow cheques deposited in the morning to be cleared within a single day.