RBI Issues Revised Norms for Claims of Deceased Bank Customers

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  • Last Updated on 29 September, 2025

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RBI Deceased Customer Claim Norms

PR No. 2025-2026/1180; Dated: 26.09.2025

1. RBI’s Directive for Special Clearing Operations

The Reserve Bank of India (RBI) has issued a directive to all banks across the country to conduct special clearing operations under the Cheque Truncation System (CTS) on October 3, 2025. This initiative is aimed at ensuring smooth processing of cheques during the specified date while maintaining financial stability and timely settlements.

2. Modified Session Timings Under CTS

As per the circular, banks have been instructed to modify their session timings for this special clearing. The presentation session will operate between 11:00 AM and 3:00 PM, while the return session will be conducted from 5:00 PM to 8:00 PM. To streamline operations, the RBI has mandated that banks use clearing type ‘99’, with session number ‘21’ for presentation and ‘22’ for return.

3. Restriction on Regular Clearing Sessions

RBI has clarified that after the closure of the return session on October 3, 2025, for the cheques presented on October 1, 2025, no regular clearing sessions will be permitted under CTS on that day. This ensures that all banking institutions focus solely on the special clearing operations, avoiding duplication or operational overlaps.

4. Scope of Instruments in Special Clearing

Under this directive, all types of instruments will be accepted exclusively through the special clearing session. Any instruments presented with clearing types or session numbers other than those prescribed by the RBI will not be attached to the special clearing session. This measure guarantees uniformity and reduces the chances of errors or mismatched entries.

5. Settlement and Compliance Obligations

The RBI further emphasized that settlements will be posted for both the presentation and return sessions carried out during the special clearing. Accordingly, banks must ensure that they maintain sufficient balances in their settlement accounts to meet any obligations arising out of the special clearing process. This step is critical to maintaining the liquidity and efficiency of inter-bank transactions.

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied