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ICICI Bank has announced a big change in its cheque processing to make banking faster and easier for customers. Starting October 4 cheques submitted at any branch will be cleared and credited to accounts within one working day the bank said on its official website. The move follows the Reserve Bank of India’s (RBI) new cheque clearing system which is designed to speed up settlements. The old batch-based process which took longer will be replaced with this faster system that can clear cheques within hours of submission. Currently banks use the Cheque Truncation System (CTS) where an electronic image of the cheque is sent to the drawee bank instead of physically transferring the cheque. However when cheques are deposited in drop boxes or ATMs it usually takes two working days to settle. ICICI Bank also highlighted its Positive Pay feature which adds extra security for high-value cheques helping prevent fraud and ensuring safer transactions. ICICI bank cheque safety and RBI guidelines To prevent fraud customers can now electronically pre-confirm key details before issuing cheques over Rs. 50000. For cheques above Rs. 5 lakh the Positive Pay feature is mandatory any cheque not verified this way will be returned. Only cheques verified under Positive Pay will be eligible for the RBI’s dispute resolution process. As per the RBI’s August 2025 directive the old batch-based cheque clearing will be replaced by continuous clearing and settlement. Phase 1 begins on October 4 2025 and Phase 2 starts on January 3 2026. Cheques can be presented once daily between 10:00 am and 4:00 pm from October 4. Customers should ensure all cheque details are correct to avoid rejection. The amount in words and figures must match the date must be valid there should be no overwriting in the payee’s name or amount and the signature should match the bank’s records. This change follows the Reserve Bank of India’s August 2025 directive for banks to move from batch-based cheque clearing to a continuous settlement system. Starting October 4 2025 banks will begin scanning and sending cheques to clearing houses on a rolling basis between 10 a.m. and 4 p.m. as part of Phase 1. Phase 2 will begin in January 2026 completing the transition to the new system.