RBI Delays Faster Cheque Clearing Phase 2; Banks Get More Time

• RBI postpones Phase 2 of the new Continuous Clearing and Settlement (CCS) framework for cheque clearing.
• Phase 2, originally set for January 3, 2026, mandated banks to approve/reject cheques within three hours.
• The postponement is "until further orders," with Phase 1 continuing as usual.
• New cheque processing hours: presentation 9 AM-3 PM, approval/rejection 9 AM-7 PM.
• The delay means the strict three-hour deadline for banks is on hold, but efforts for faster clearing continue.

Why It Matters: RBI delays stricter 3-hour cheque clearing deadline, giving banks more time while improving services.