The Reserve Bank of India (RBI) has announced that a special clearing in the Cheque Truncation System (CTS) will be conducted on October 3, 2025, to facilitate the transition to the upcoming continuous clearing and settlement mechanism that takes effect from October 4, 2025.
In a circular issued by Chief General Manager Saurabh Nath, the RBI informed that the special clearing will involve three sessions. The return session for instruments presented on October 1, 2025 will be held between 8:00 AM and 10:00 AM, followed by the special presentation session from 11:00 AM to 3:00 PM, and finally, the special return session from 5:00 PM to 8:00 PM.
The central bank clarified that after the closure of the return session on October 3, there will be no regular CTS clearing sessions on that day. All types of instruments will be accepted only in the special clearing.
For operational purposes, banks have been directed to use clearing type “99” with session numbers “21” for presentation and “22” for return. RBI emphasized that instruments presented with any other codes will not be attached to the special clearing sessions.
The regulator further advised banks to maintain adequate balances in their settlement accounts to meet obligations arising from the special clearing. Settlement will be posted for both presentation and return sessions on the same day.
Additionally, sponsor banks have been instructed to communicate the details of this directive to their sub-members. The order has been issued under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
