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 ...

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 ...

In Phase 1, starting from October 4, there will be a single cheque presentation session between 10 am to 4 pm during which banks will scan and send cheques to the clearing house continuously. The ...

To improve the efficiency of cheque clearing and reduce settlement risk for participants, and to enhance customer experience, the RBI has decided to transition CTS from the current approach of batch ...

In a welcome step, the Reserve Bank of India (RBI) has made a major change in the process of clearing checks. From October 4, 2025, checks will now be paid in a few hours, whereas it used to take a ...

Private banks, including HDFC Bank and ICICI Bank, have informed that they will start same-day cheque clearance from October 4, following the Reserve Bank of India's (RBI) updated settlement framework ...

MUMBAI, India--(BUSINESS WIRE)--NCR Corporation (NYSE: NCR) and National Payments Corporation of India (NPCI) announced today the successful completion of the landmark Cheque Truncation System (CTS) ...