PR No. 2025-2026/1180; Dated: 26.09.2025
1. RBI’s Directive for Special Clearing Operations
The Reserve Bank of India (RBI) has issued a directive to all banks across the country to conduct special clearing operations under the Cheque Truncation System (CTS) on October 3, 2025. This initiative is aimed at ensuring smooth processing of cheques during the specified date while maintaining financial stability and timely settlements.
2. Modified Session Timings Under CTS
As per the circular, banks have been instructed to modify their session timings for this special clearing. The presentation session will operate between 11:00 AM and 3:00 PM, while the return session will be conducted from 5:00 PM to 8:00 PM. To streamline operations, the RBI has mandated that banks use clearing type ‘99’, with session number ‘21’ for presentation and ‘22’ for return.
3. Restriction on Regular Clearing Sessions
RBI has clarified that after the closure of the return session on October 3, 2025, for the cheques presented on October 1, 2025, no regular clearing sessions will be permitted under CTS on that day. This ensures that all banking institutions focus solely on the special clearing operations, avoiding duplication or operational overlaps.
4. Scope of Instruments in Special Clearing
Under this directive, all types of instruments will be accepted exclusively through the special clearing session. Any instruments presented with clearing types or session numbers other than those prescribed by the RBI will not be attached to the special clearing session. This measure guarantees uniformity and reduces the chances of errors or mismatched entries.
5. Settlement and Compliance Obligations
The RBI further emphasized that settlements will be posted for both the presentation and return sessions carried out during the special clearing. Accordingly, banks must ensure that they maintain sufficient balances in their settlement accounts to meet any obligations arising out of the special clearing process. This step is critical to maintaining the liquidity and efficiency of inter-bank transactions.
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