RBI delays Jan 3 deadline for cheque clearance within 3 hours

RBI has postponed the rollout of Phase 2 of its faster cheque clearance framework, which was set to take effect on January 3, to allow more time for banks to streamline their operations. Under the phase, banks will be required to approve or reject cheques within three hours. Phase 1 of the project was implemented on October 4, 2025.