RBI/2025-26/81
CO.DPSS.RLPD.No.S680/04-07-001/2025-2026

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, 2025 on ‘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:

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