- CTS: Special Clearing on October 3, 2025
- Transition to Continuous Clearing from October 4, 2025
- Modified Session Timings & Same-Day Settlement
Reference is invited to circular CO.DPSS.RLPD.No.S536/04-07-001/2025-2026 dated August 13, 2025 on
“Introduction of Continuous Clearing and Settlement on Realisation in Cheque Truncation System (CTS)”, wherein
Phase 1 is to be implemented from October 4, 2025.
To facilitate the transition, the Reserve Bank has announced modified session timings and a
special clearing in CTS on October 3, 2025 (Friday) as detailed below.
October 3, 2025 — CTS Sessions & Timings
| Day | Session Details | Timing |
|---|---|---|
| October 3, 2025 (Friday) | Return session for presentations done on October 1, 2025 | 08:00 AM – 10:00 AM |
| October 3, 2025 (Friday) | Special Clearing – Presentation Session | 11:00 AM – 03:00 PM |
| October 3, 2025 (Friday) | Special Clearing – Return Session | 05:00 PM – 08:00 PM |
Operational Notes for October 3
- After the 08:00–10:00 AM return session (for Oct 1 presentations), there will be no regular clearing sessions on the day.
- All instruments will be accepted only in Special Clearing sessions.
- For Special Clearing, banks must use Clearing Type “99” and session numbers “21” (presentation) and “22” (return). Items with other codes will not be attached.
- Settlement will be posted for both presentation and return in Special Clearing; banks must maintain adequate balances in their settlement accounts.
- Sponsor banks should inform their sub-members of these instructions.
- Directive issued under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
What new changes take effect on October 3?
- One-day special clearing window replaces regular CTS sessions to prep for continuous clearing launch.
- Dedicated presentation and return slots ensure same-day settlement for items lodged in Special Clearing.
- Standardised coding (Type 99; Sessions 21/22) for smooth routing and faster settlement posting.
Benefits to the Public
- Faster realisation around the cutover: Special Clearing enables same-day movement of cheques presented on Oct 3 (within session timelines).
- Reduced downtime risk: No “gap day” in clearing while the system transitions to continuous clearing from Oct 4.
- Greater predictability: Clear, published time windows for presentation and returns help individuals and businesses plan cash flows.
- Smoother dispute handling: A defined return window (5–8 PM) aids quicker visibility of returns, shortening resolution cycles.
Tip for customers: To benefit from same-day Special Clearing on October 3, deposit cheques early enough for banks to lodge them within the
11:00 AM – 03:00 PM presentation session. Returned items, if any, will reflect during 05:00 PM – 08:00 PM.
Leave a Reply