The Reserve Bank of India has issued a circular dated December 24, 2025, announcing changes to the rollout of Continuous Clearing and Settlement on Realisation (CCSR) in the Cheque Truncation System (CTS). While Phase 1 was implemented on October 4, 2025, Phase 2 has been postponed until further notice to provide banks additional time to streamline operational processes. The RBI has also revised the CTS timelines by rescheduling the presentation session to 9:00 AM–3:00 PM and the confirmation session to 9:00 AM–7:00 PM. The directions are issued under the Payment and Settlement Systems Act, 2007.
Reserve Bank of India
RBI/2025-26/156
CO.DPSS.RLPD.No.S1039/04-07-001/2025-2026 | Dated: December 24, 2025
The Chairman / Managing Director / Chief Executive Officer of
Banks participating in Cheque Truncation System /
National Payments Corporation of India
Dear Sir / Madam,
Continuous Clearing and Settlement on Realisation in Cheque Truncation System: Phase 2
A reference is invited to the circular CO.DPSS.RLPD.No.S536/04-07-001/2025-2026 dated August 13, 2025 on ‘Introduction of Continuous Clearing and Settlement on Realisation in Cheque Truncation System’. Phase 1 of the project was implemented on October 4, 2025.
2. In partial modification to the above-mentioned circular, the following are advised:
i. Implementation of Phase 2 is being postponed, until further notice, to allow more time for banks to streamline their operations.
ii. The timing of the presentation session is modified to 09:00 AM to 03:00 PM and the timing of the confirmation session is modified to 09:00 AM to 07:00 PM.
3. 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
