India begins near real-time cheque clearing on Oct 4, 2025, speeding up fund availability.

Starting October 4, 2025, India’s cheque clearing system will shift to near real-time processing, enabling funds to be credited within hours instead of days. The Reserve Bank of India (RBI) will implement a phased rollout, with cheques deposited between 10 a.m. and 4 p.m. scanned and settled hourly from 11 a.m. Banks must confirm clearance by 7 p.m. in Phase 1 (until Jan 2, 2026), or within three hours in Phase 2 (from Jan 3, 2026), with unconfirmed cheques auto-approved. The change applies nationwide across Delhi, Mumbai, and Chennai clearing grids, improving speed, transparency, and security. Customers are urged to verify cheque details and use the Positive Pay System for larger cheques. The move builds on prior upgrades, including the Cheque Truncation System and T+1 settlement.