The Reserve Bank of India issued a directive postponing Phase 2 of “Continuous Clearing and Settlement on Realisation” in the Cheque Truncation System (CTS) until further notice, citing the need to give banks more time to streamline their operations. The update partially modifies the RBI’s 13 August 2025 circular that introduced the project, under which Phase 1 was implemented on 4 October 2025. It also changes the CTS session timings, setting the presentation session at 09:00 to 15:00 and the confirmation session at 09:00 to 19:00. RBI indicated it will communicate further on Phase 2 implementation in due course.
Reserve Bank of India 2025-12-24
Reserve Bank of India postpones Cheque Truncation System continuous clearing Phase 2 and revises presentation and confirmation windows
The Reserve Bank of India postponed Phase 2 of "Continuous Clearing and Settlement on Realisation" in the Cheque Truncation System, allowing banks more time to streamline operations. This directive modifies the RBI's 13 August 2025 circular, adjusting CTS session timings. Further communication on Phase 2 implementation will follow.