Cheques will now be cleared in a single day !

New Delhi – From now onwards, any cheque deposited in a bank will be cleared on the same day, and the amount will be credited to the recipient’s account immediately. According to the new guidelines issued by the Reserve Bank of India (RBI), all banks are now required to clear cheques within one business day. This change will make cheque-based transactions faster and more convenient. Cheques can be deposited between 10 a.m. and 4 p.m.

📢 Big Banking Update! 💰

New guidelines issued by the Reserve Bank of India (RBI)

🏦 From Oct 4, all banks to clear cheques on the same day ✅

💳 Faster transactions
⏰ Deposit between 10am – 4pm#RBI #BankingNews #FinanceUpdate pic.twitter.com/MXZVnmcvqn

— Sanatan Prabhat (@SanatanPrabhat) October 4, 2025

1. HDFC Bank and ICICI Bank have already informed their customers about this change, urging them to ensure sufficient account balance and accurate cheque details to avoid cheque bounces. Previously, cheque clearance used to take 1–2 days.

2.  According to the RBI, this new system will be implemented in two phases:

•   Phase 1: October 4, 2025 – January 3, 2026
•   Phase 2: Effective after January 3, 2026

3.  For customer safety, banks have been advised to use the “Positive Pay System.” Under this method, before submitting a cheque, the account holder must share key details with the bank.

•   For cheques above ₹50,000, account holders must provide the account number, cheque number, date, amount, and beneficiary name at least 24 business hours in advance.
•   When the cheque is presented, the bank will verify these details. If they match, the cheque will be cleared; otherwise, the request will be rejected, and the issuer will need to resubmit accurate details.