Cheque Clearance To Go Same-Day From Tomorrow: RBI

HDFC and ICICI Bank will offer same-day cheque clearance under RBI’s new settlement framework from October 4. Customers must maintain sufficient balance, ensure accurate cheque details, and preferably use the Positive Pay System, mandatory for cheques above ₹5 lakh. RBI’s continuous clearing Phase 1 starts October 2025, with Phase 2 in January 2026.