NOB- Bharat news: Cheque clearance in banks is set to get faster. While it currently takes 2 days to clear a cheque presented in a bank, the process will be completed in a few hours from October 4^th 2025. For this, the RBI has said that the Cheque Truncation System (CTS) will be changed from the current batch processing method to the Continuous Clearing and Settlement on Realization method. In the batch-processing method, all the cheques received up to a certain time are processed and cleared as a batch. In this method, cheque clearance takes up to two days. Under the newly introduced Continuous Clearing and Settlement on Realization method, banks will scan the cheques presented by customers during the presentation session (10 am to 4 pm) from time to time and send them to the clearing house. Thus, the cheque will be cleared within a few hours. This system will be beneficial for both those making payments through cheques and those receiving money. The process of switching to Continuous Clearing will be done in two phases. The first phase will be implemented from October 4^th 2025 and the second phase from January 3^rd 2026, the RBI has revealed. In the first phase, the drawee banks will have to inform the acceptance or rejection of the cheques received by them before the end of the confirmation session (7 pm). Otherwise, the cheque will be considered accepted and settled. In the second phase, the drawing banks will have to inform the acceptance or rejection of the settlement of the cheques received by them within 3 hours. After the cheque settlement, the clearing house will have to disclose the acceptance or rejection of the cheque to the presenting bank (the bank to which the customer presented the cheque). The RBI has asked the banks to prepare their CTS to switch to the new system from the specified date.