On the occasion of Dhanteras, the check clearing system in banks across the country has come to a standstill, creating panic among customers and businessmen. According to reports, crores of rupees of hundreds of people are currently stuck due to technical glitches. Many checks deposited in banks are not being cleared and in some cases are also getting bounced, which has increased the concern of the customers.
Bank officials said that this problem has arisen due to the new Same-Day Check Clearance System being implemented by the Reserve Bank of India (RBI). RBI has implemented the first phase of this new system from October 4, 2025, in which the bank has to confirm the check by 7 pm. If the bank does not do so, the check is automatically considered cleared. This system will continue till January 3, 2026, after which the rules will become more strict in the second phase, that is, any check will have to be cleared within three hours.
The new system aims to make the banking process faster and transparent so that customers can get payments quickly. But currently due to technical glitches in software upgrades and network syncing, transactions in banks are stuck. Due to system being down in many branches, long queues of customers are forming and pressure on bank employees has also increased.
The situation in some banks is such that despite having sufficient balance in the customers’ accounts, their checks are bouncing. Because of this merchants are facing payment delays. The bank management has assured that necessary software updates are being completed soon and the system will be back to normal in the coming days.
Experts say that after the introduction of the same-day clearing system, the banking speed will increase, but the initial technical challenges are currently causing more trouble than relief. If the system becomes stable soon, then check clearing facility within three hours will be implemented across the country from January, which will provide great relief to common customers.