Check Cleared In 3 Hours! RBI Postponed Check Clearance Deadline, Changed Processing Time; When Will It Be Implemented Now?
Reserve Bank of India RBI has postponed the check clearance deadline for the time being. The Phase-2 system, which was to be implemented from January 3, 2026, has been postponed till further orders, in which banks had to clear the check image within three hours of receiving it. RBI has announced not to implement the second phase of Continuous Clearing and Settlement CCS system yet.