RBI to Hold Special Session for Clearing Cheques on Oct 3 Ahead of Continuous Settlement Launch [Read Circular]
RBI announced a special cheque clearing session on October 3, 2025, to settle pending transactions before launching its new continuous settlement system from October 4.
Cheque - clearing - RBI - Taxscan
Cheque - clearing - RBI - Taxscan
The Reserve Bank of India (RBI) issued notification dated September 26, 2025, announcing a special clearing session under the Cheque Truncation System (CTS) on October 3, 2025. This one-time session is being organized to ensure that all pending cheque transactions are settled before the introduction of a new Continuous Clearing and Settlement on Realisation System, which will go live on October 4, 2025.
Special Clearing Schedule for October 3, 2025
| Session Type | Purpose | Time |
| Return Session | For cheques presented on October 1, 2025 | 08:00 AM – 10:00 AM |
| Special Clearing Presentation Session | For presenting fresh instruments on October 3 | 11:00 AM – 03:00 PM |
| Special Clearing Return Session | For returns related to special presentation | 05:00 PM – 08:00 PM |
- No regular clearing sessions will be conducted on October 3.
- All instruments must be presented in the special clearing only.
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The RBI has instructed banks to use Clearing Type “99”, with Session Number 21 for presentation and Session Number 22 for returns during the special clearing. Any other codes will not be processed. Banks have also been directed to maintain sufficient funds in their settlement accounts to meet payment obligations. Sponsor banks must inform all their sub-members about these arrangements.
The notification has been issued under the powers conferred by Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
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