The Reserve Bank of India (RBI) has postponed the implementation of Phase 2 of its faster cheque clearance system, originally slated for January 3, 2026. This decision allows banks more time to streamline operations for the new T+3 hour clearance requirement. The RBI also revised the daily operating hours for cheque processing, with the presentation session now running from 9 am to 3 pm and the confirmation session from 9 am to 7 pm. Phase 1 of the continuous clearing system, implemented in October 2025, will continue as usual.