The Reserve Bank of India (RBI) issued a circular to banks participating in the Cheque Truncation System (CTS) regarding a special clearing scheduled for October 3, 2025. This measure is designed to facilitate the shift to the new continuous clearing and settlement on realization process, the first phase of which is set to begin on October 4, 2025. On October 3rd, the regular CTS clearing sessions will be suspended after the morning return session for instruments presented on October 1st concludes. The special clearing session will be the only one accepting all types of instruments that day. The special clearing will have specific timings: a Presentation Session from 11:00 AM to 03:00 PM and a Return Session from 05:00 PM to 08:00 PM. Banks are mandated to use specific codes—clearing type “99” and session numbers “21” for presentation and “22” for return—to ensure instruments are processed correctly within the special clearing. The RBI confirmed that settlement will be processed for both the presentation and return sessions of this special clearing, and banks must maintain adequate balances in their settlement accounts to cover any resulting obligations.
RESERVE BANK OF INDIA
RBI/2025-26/81
CO.DPSS.RLPD.No.S680/04-07-001/2025-2026 Dated: September 26, 2025
The Chairman / Managing Director / Chief Executive Officer of Banks participating in Cheque Truncation System/ National Payments Corporation of India
Madam / Dear Sir,
Special Clearing in Cheque Truncation System on October 3, 2025
A reference is invited to the circular CO.DPSS.RLPD.No.S536/04-07-001/2025-2026 dated August 13, 2025on ‘Introduction of Continuous Clearing and Settlement on Realisation in Cheque Truncation System’ wherein it has been advised that phase 1 shall be implemented on October 4, 2025.
2. To facilitate transition to continuous clearing, it has been decided to modify session timings and conduct special clearing in Cheque Truncation System (CTS) on October 3, 2025 as detailed below:
| Day | Session Details | Timing |
| October 3, 2025 (Friday) | Return Session for Presentation done on October 1, 2025 | 08:00 AM – 10:00 AM |
| Special Clearing Presentation Session | 11:00 AM – 03:00 PM | |
| Special Clearing Return Session | 05:00 PM – 08:00 PM |
3. After closure of return session on October 3, 2025 for presentation done on October 1, 2025, there shall be no regular clearing sessions in CTS on the day. All types of instruments will be accepted in special clearing only.
4. For the special clearing on October 3, 2025, banks are advised to use clearing type as “99” and session numbers as “21” (for presentation) and “22” (for return). Instruments presented with any other clearing type and session number will not be attached to the special clearing session.
5. Settlement will be posted for both presentation and return sessions in special clearing. Banks should maintain sufficient balance in their settlement account to meet settlement obligations arising out of the Special Clearing.
6. Sponsor banks may bring the contents of this circular to the notice of their sub-members.
7. This directive is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
Yours faithfully,
(Saurabh Nath)
Chief General Manager
