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Time of India
20 minutes ago
- Time of India
Treasury bills vs fixed deposits: T-bills via SIP gain traction, but FDs still top for one-year returns
The Reserve Bank of India (RBI) has allowed individuals to invest in Treasury bills (T-bills) through the systematic investment plan (SIP) route on its retail direct platform, aiming to boost retail participation in the bond market. An ET analysis shows that while bank fixed deposits (FDs) offer at least 68 basis points (bps) higher returns in the one-year segment, T-bills outperform in shorter tenures — providing about 55 bps more than FDs in 91-day and 182-day maturities. The central bank had earlier opened trading in government securities to retail investors. The latest decision to permit SIP-based investment in T-bills allows participation with a minimum investment of Rs 10,000, along with options for auto-bidding and reinvestment on the platform. Auto-bidding enables investors to automate their participation in the weekly T-bill auctions held every Wednesday. The system places bids at the cut-off rate on behalf of investors for the chosen amount. The reinvestment option allows proceeds from maturing T-bills to be automatically deployed in fresh issuances. Launched in November 2021, the RBI's retail direct platform was designed to make government securities more accessible to individual investors. Registrations on the platform have doubled in the past two years to nearly half a million, though experts note that overall participation levels remain modest. The analysis suggests that for investors seeking short-term exposure, T-bills via SIP can offer a competitive edge over similar-tenure FDs, while one-year deposits continue to lead on returns. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
an hour ago
- Time of India
Banking reforms: RBI to clear cheques within hours from October 4, move to continuous settlement to cut delays
The Reserve Bank of India (RBI) will introduce a new system from October 4 to clear cheques within hours of being presented, sharply reducing the current window of up to two working days. The move will transition the existing Cheque Truncation System (CTS) from batch processing to a 'continuous clearing and settlement on realisation' model, aimed at improving efficiency, reducing settlement risks, and enhancing customer experience, the central bank said in a circular, PTI reported. Under the revised framework, cheques will be scanned, presented and processed continuously between 10:00 AM and 4:00 PM during business hours. For each cheque, the drawee bank must send a positive confirmation for honoured cheques or a negative confirmation for dishonoured ones. The change will be implemented in two phases. In Phase 1, from October 4, 2025, to January 2, 2026, drawee banks must confirm cheques by 7:00 PM on the same day, failing which they will be deemed approved for settlement. In Phase 2, starting January 3, 2026, an 'item expiry time' of T+3 clear hours will be enforced. For instance, cheques received between 10:00 AM and 11:00 AM will need confirmation by 2:00 PM, else they will be considered approved and settled. Once settlement is completed, the clearing house will send confirmation details to the presenting bank, which must release funds to customers immediately and not later than one hour after settlement, subject to safeguards. The RBI has asked banks to ensure readiness for the transition and to inform customers of the new cheque clearing timelines. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
The Hindu
an hour ago
- The Hindu
RBI allows transition to continuous clearing of cheques
The Reserve Bank of India (RBI) has decided on the transition of the Cheque Truncation System (CTS) from the current approach of batch processing to continuous clearing with settlement on realisation in two phases. Phase 1 will be implemented on October 4, 2025 and Phase 2 on January 3, 2026, the banking sector regulator said. All banks have been advised to make their customers adequately aware of the changes in the cheque clearing process. Banks have also been advised to be in readiness to participate in continuous clearing in CTS on the above dates. There will be a single presentation session from 10:00 AM to 4:00 PM and cheques received by the branches will be scanned and sent to the clearing house by the banks immediately and continuously during the presentation session. The clearing house will in turn release the cheque images to drawee banks on a continuous basis. The confirmation session will start at 10:00 AM and close at 7:00 PM and for every cheque presented, the drawee bank will generate either positive confirmation (for honoured cheques) or negative confirmation (for dishonoured cheques).
