Circular no. RBI/2025-26/81 CO.DPSS.RLPD.No.S680/04-07-001/2025-2026; dated: 26.09.2025
1. RBI Issues Directions for Special Clearing
The Reserve Bank of India (RBI) has instructed all banks to conduct special clearing operations under the Cheque Truncation System (CTS) on October 3, 2025. This directive is aimed at ensuring smooth processing and timely settlement of cheques during the specified period, with revised session timings being made applicable for the day.
2. Revised Session Timings for Clearing
For this special clearing operation, the RBI has notified specific session codes and timings. Banks must use clearing type ‘99’ and allocate session number ‘21’ for presentation and session number ‘22’ for return. The presentation window will remain open from 11:00 AM to 3:00 PM, while the return session is scheduled between 5:00 PM and 8:00 PM.
3. Impact on Regular Clearing Sessions
After the closure of the return session on October 3, 2025, relating to cheques presented on October 1, 2025, there will be no regular clearing sessions in CTS on the same day. Importantly, all instruments will be processed exclusively through this special clearing mechanism, making it a mandatory process for banks and participants.
4. Settlement and Compliance Requirements
The RBI has further clarified that instruments submitted with any clearing type or session number other than those specified will not be included in the special clearing. Settlements will be posted separately for both the presentation and return sessions. To ensure seamless execution, banks have been advised to maintain adequate balances in their settlement accounts to meet obligations arising from the special clearing.
5. Conclusion
This special directive emphasizes RBI’s commitment to ensuring efficient clearing operations during critical banking days. By mandating strict session codes, timings, and compliance requirements, the RBI aims to facilitate smooth cheque processing while minimizing settlement risks. Banks are expected to adhere closely to these instructions to avoid disruptions in customer transactions on October 3, 2025.
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