The Reserve Bank of India has issued an update to its circular dated August 13, 2025 on the introduction of Continuous Clearing and Settlement on Realisation in the Cheque Truncation System (CTS). While Phase 1 was implemented on October 4, 2025, the implementation of Phase 2 has been postponed until further notice to provide banks additional time to streamline their operations. Additionally, the presentation session timing has been revised to 09:00 AM to 03:00 PM and the confirmation session timing to 09:00 AM to 07:00 PM. The directive has been issued under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007.
Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=13232&Mode=0
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