What changed
RBI has scheduled a special clearing session in CTS on October 3, 2025, replacing regular clearing for that day. The session includes a return session for October 1 presentations (8-10 AM), a special presentation session (11 AM-3 PM), and a special return session (5-8 PM). No regular CTS sessions will run on October 3.
What it means for you
Banks must prepare for a one-day operational shift to special clearing on October 3, ensuring all instruments are processed using the designated clearing type and session numbers. This is a critical step before the continuous clearing and settlement on realisation (phase 1) goes live on October 4. Settlement obligations will arise from both presentation and return sessions, so banks need adequate balances in their settlement accounts.
What you must do
- Update internal systems to accept clearing type '99' and session numbers '21' (presentation) and '22' (return) for all instruments on October 3.
- Ensure sufficient settlement account balances to cover obligations from both special clearing sessions.
- Communicate the special clearing schedule and operational changes to all relevant branches and sub-members.
- Verify that no regular CTS sessions are scheduled on October 3 and that all instruments are routed to special clearing.
Who it affects
All banks participating in Cheque Truncation System, National Payments Corporation of India, Sponsor banks and their sub-members, Bank operations and settlement teams
Why is special clearing needed on October 3, 2025?
To facilitate the transition to continuous clearing and settlement on realisation in CTS, which begins phase 1 on October 4, 2025. The special clearing ensures a smooth handover by processing pending items from October 1 and clearing all instruments on October 3.
What happens if we use a different clearing type or session number on October 3?
Instruments presented with any clearing type other than '99' or session numbers other than '21' (presentation) and '22' (return) will not be attached to the special clearing session and may not be processed.
Will there be any regular CTS sessions on October 3?
No. After the return session for October 1 presentations closes at 10 AM, no regular clearing sessions will run on October 3. Only special clearing sessions will be operational.