New CCSR SOP: Master Continuous Clearing & Settlement on Realisation in CTS : MCQS

🏦 CCSR SOP Master Quiz

Test Your Knowledge on Continuous Clearing & Settlement on Realisation

📋 Blog Description:
New CCSR SOP: Master Continuous Clearing & Settlement on Realisation in CTS. Key dates (Oct 4, 2025) & Special Clearing details inside!

Question 1 of 15 | Score: 0/15

Q1 When is Phase 1 of the implementation of Continuous Clearing & Settlement on Realisation (CCSR) in CTS scheduled to begin?

A) August 13, 2025

B) September 26, 2025

C) October 4, 2025

D) January 3, 2026

Correct Answer: C) October 4, 2025

Q2 As per the SOP, what are the designated continuous presentment window hours for outward clearing?

A) 8 AM to 5 PM

B) 9 inward processing/settlement cycles

C) 10 AM to 4 PM

D) 11 AM to 3 PM

Correct Answer: C) 10 AM to 4 PM

Q3 What is the core characteristic of "Settlement on Realization" (as defined in the SOP)?

A) Settlement occurs immediately upon presentation of the cheque image.

B) Presenting bank receives credit based on a shadow balance.

C) Presenting bank receives credit only when funds are realized from the drawee bank.

D) Settlement occurs only once per day at 7:00 PM.

Correct Answer: C) Presenting bank receives credit only when funds are realized from the drawee bank.

Q4 During Phase 1 of CCSR (October 4, 2025, to January 2, 2026), what is the prescribed Item Expiry Time for all cheques?

A) T+3 clear hours

B) 4:00 PM

C) 7:00 PM

D) 10:00 AM

Correct Answer: C) 7:00 PM

Q5 Which entity is responsible for monitoring the timely transmission of the outward file lodged in a particular cycle to NPCI (CCH)?

A) The branch concerned

B) State Level RCC

C) National Grid Chennai

D) Head Office: General Banking Division

Correct Answer: C) National Grid Chennai

Q6 If a drawee bank fails to provide a confirmation for an instrument in Phase 2 (from January 3, 2026) within the prescribed T+3 clear hours, the instrument will be considered:

A) Rejected and pending manual intervention.

B) Carried forward to the next business day.

C) Deemed approved and included for settlement.

D) Subject to mandatory extension request.

Correct Answer: C) Deemed approved and included for settlement.

Q7 In the Outward Clearing Module, the new menu customized for capturing instrument details in CBS is:

A) CLGSTAT

B) HPR

C) INWCLG

D) OWCLG

Correct Answer: D) OWCLG

Q8 Which date did the Reserve Bank of India permit a Special Clearing session to enable a smooth transition to Continuous Clearing?

A) October 4, 2025

B) October 3, 2025

C) January 3, 2026

D) August 13, 2025

Correct Answer: B) October 3, 2025

Q9 For the Special Clearing Presentation Session held on October 3, 2025, banks were advised to use which Clearing Type and Session Number combination?

A) Type 21, Session 99

B) Type 99, Session 22

C) Type 99, Session 21

D) Type 01, Session 99

Correct Answer: C) Type 99, Session 21

Q10 What is stipulated regarding "shadow balance" under the Continuous Clearing system?

A) Shadow balance will be provided to customers for faster credit.

B) Shadow balance will only be provided for instruments under extension.

C) Shadow balance will not be provided, and consequently, there will be no release to shadow balance functionality.

D) Shadow balance will be provided in Phase 2 (T+3 hours).

Correct Answer: C) Shadow balance will not be provided, and consequently, there will be no release to shadow balance functionality.

Q11 Which of the following is a mandated check during the initial physical validation (Step 1) of a cheque at the branch level?

A) Date (not older than 3 months) and not post-dated.

B) Authentication of every customer who deposits a cheque.

C) Approval of the amount by the Branch Manager.

D) Confirmation of the drawee account balance.

Correct Answer: A) Date (not older than 3 months) and not post-dated.

Q12 According to the modalities for Settlement on Realisation, starting from 11:00 AM, how often will settlement be calculated until the end of the confirmation session?

A) Every 15 minutes

B) Every 3 hours

C) Every hour

D) At the end of the day only

Correct Answer: C) Every hour

Q13 In the Outward Clearing process in the CTS application (Step 3), what feature is explicitly stated as being removed?

A) Maker & checker process

B) Data transfer to NPCI

C) The option for forced balancing

D) Remote Capture functionality

Correct Answer: C) The option for forced balancing

Q14 If an exception cannot be resolved at the branch/RCC level, what is the mandatory time frame within which escalation must occur?

A) If the exception persists beyond 24 hours.

B) If the exception persists beyond 60 minutes.

C) If the exception cannot be resolved within 30 minutes.

D) Only at the end of the day's last settlement cycle.

Correct Answer: C) If the exception cannot be resolved within 30 minutes.

Q15 Which of the following Return Reason Codes mandates that returning charges are *not* to be levied?

A) Funds insufficient (Code 01)

B) Drawer's signature incomplete (Code 10)

C) Instrument post dated (Code 30)

D) Payment stopped by attachment order (Code 21)

Correct Answer: D) Payment stopped by attachment order (Code 21)

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