https://www.taxtmi.com/news?id=65787 The second phase requiring banks to clear cheques within three hours of realisation in the Cheque Truncation System is postponed until further notice to permit banks to streamline operations; presentation session timing is set at 9 am-3 pm and confirmation session at 9 am-7 pm. Phase 1 obligations remain: drawee banks must confirm cheques by the end of the confirmation session or they will be deemed confirmed and included for settlement, as the system shifts to continuous intraday scanning and passing of cheques. en-us Wed, 24 Dec 2025 20:31:04 +0530 Wed, 24 Dec 2025 20:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=65787 The second phase requiring banks to clear cheques within three hours of realisation in the Cheque Truncation System is postponed until further notice to permit banks to streamline operations; presentation session timing is set at 9 am-3 pm and confirmation session at 9 am-7 pm. Phase 1 obligations remain: drawee banks must confirm cheques by the end of the confirmation session or they will be deemed confirmed and included for settlement, as the system shifts to continuous intraday scanning and passing of cheques. News - Wed, 24 Dec 2025 20:31:04 +0530 https://www.taxtmi.com/news?id=65787