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<h1>New Cheque Clearing Rules Cut Processing Time to Hours Starting October 2025 Under Section 12 Guidelines</h1> The central bank will implement a new cheque clearing mechanism starting October 4, 2025, reducing the clearing time from up to two working days to a few hours. Under this system, cheques will be scanned and processed continuously during business hours from 10:00 AM to 4:00 PM. Drawee banks must provide positive or negative confirmation of cheque status by 7:00 PM during the initial phase, failing which cheques will be deemed approved for settlement. From January 3, 2026, confirmation must occur within three hours of cheque receipt. Settlements will be finalized promptly, and presenting banks must release payments within one hour of successful settlement. Banks are required to inform customers about these changes and prepare for the transition to continuous clearing and settlement on realization to enhance efficiency and reduce settlement risk.