ICICI Bank to Offer Same-Day Cheque Clearance Starting October 4, 2025

ICICI Bank has recently announced that starting October 4, 2025, cheques will be cleared on the same day they are deposited. Customers will need to submit cheques before the branch cut-off time to be included in the day’s settlement cycle.

RBI’s New Clearing Rules

The change follows the Reserve Bank of India’s August 2025 announcement requiring banks to move from batch-based cheque clearing to continuous settlement. Currently, cheques are processed in batches under the Cheque Truncation System (CTS), which can take up to two working days.

Phase-Wise Rollout

Under Phase 1, starting October 4, 2025, banks will scan and send cheques to clearing houses between 10:00 a.m. and 4:00 p.m. Drawee banks will be required to confirm cheques by 7 p.m. the same day.

From January 3, 2026, in Phase 2, the confirmation window will reduce to 3 hours, and settlements will take place on an hourly basis.

Positive Pay System

ICICI Bank has reminded customers of the Positive Pay requirement. This system involves reconfirming cheque details such as account number, cheque number, date, payee name, and amount.

• Recommended for cheques above ₹50,000
• Mandatory for cheques above ₹5 lakh

Cheques above ₹5 lakh without Positive Pay will not be cleared. As per RBI guidelines, dispute resolution applies only to cheques verified through this process.

Customer Guidelines

The bank has outlined points to keep in mind while issuing cheques:

• Ensure the amount in words and numbers match
• Use valid dates only
• Avoid overwriting or corrections
• Ensure the signature matches the bank records

Read more: ICICI Bank Gets RBI Nod to Acquire Additional Stake Up to 2% in ICICI Prudential AMC!

Conclusion

With this change, ICICI Bank will implement the RBI’s new system of continuous cheque settlement. Customers depositing cheques from October 4, 2025, can expect faster processing and same-day clearance under the updated rules.

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