From same day credit to credit within hours, how RBI is revolutionising cheque clearance process

The Reserve Bank of India (RBI) is set to revolutionize cheque clearing, aiming for same-day credit through continuous clearing and settlement starting October 2025. Implemented in two phases, the new system will expedite processing via real-time image transfers and confirmations. Banks must confirm cheques promptly, with hourly settlements planned from January 2026.