ICICI Bank will implement same-day cheque clearance from October 4, aligning with RBI’s new settlement framework. Customers depositing cheques at branches will see faster processing, with Positive Pay mandatory for high-value cheques to prevent fraud and ensure smooth dispute resolution
From October 4, 2025, RBI will mandate banks to clear cheques within hours instead of up to two days. The Cheque Truncation System will shift to continuous clearing in two phases, enhancing efficiency, reducing settlement risks, and improving customer experience
About 10 lakh bank employees and officers are to participate in the strike called by the United Forum of Bank Unions, an umbrella body of nine associations and groups.
