Depositing a cheque no longer means waiting 1–2 days for the money to arrive. From October 4, 2025, the Reserve Bank of India (RBI) has introduced a Fast Cheque Clearance System, ensuring that cheques clear the same day.
How it works
Cheques deposited between 10 AM and 4 PM will be scanned and sent to the clearing house immediately.
Banks must confirm clearance by 7 PM. If not, the cheque will be automatically considered cleared.
From January 3, 2026 (Phase 2), banks will get only 3 hours to confirm a cheque — for example, a cheque deposited at 10 AM must clear by 2 PM.
High-value cheques
Positive Pay is now mandatory for cheques above ₹5 lakh and strongly recommended for those above ₹50,000.
Cheques validated under Positive Pay will also be covered under RBI’s dispute resolution system.
Rollout
The system starts today in Delhi, Mumbai, and Chennai clearing grids, with nationwide expansion to follow. Private banks including HDFC Bank and ICICI Bank have confirmed they will adopt same-day cheque clearance from today.
Customers are advised to ensure cheque details are accurate — matching amount in words and figures, valid date, no overwriting, and correct signature — to avoid rejection.