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Corporate Laws Central Ministry of Finance Payment and Settlement Systems Act, 2007

NPCI issues circular on Revision of TAT for raising and responding to Good Faith in NRCS

07-Nov-2025 | NPCI/2025-26/NETC/006

NPCI has issued a circular on Revision of TAT for raising and responding to Good Faith in NRCS with effect from 01st December 2025. The circular announces a revision in the Turnaround Time (TAT) for raising and responding to Good Faith cases in the National Reconciliation and Correction System (NRCS). Earlier process: Banks had 160 days to raise a Good Faith case (reason code 680) after a transaction date and 30 days to respond (accept/decline) to such cases. New TAT timelines: a. Banks can now raise Good Faith cases within 90 days from the transaction date. b. Responses to accept (681), decline (682), or deemed decline (505) must be given within 15 days of raising the case. The revision aims to reduce delays and improve system efficiency in handling Good Faith cases within NRCS. RBI/NPCI will review the inflow of Good Faith cases after six months and may revise the TAT again if required. Member banks must inform all concerned officials to ensure timely compliance with the updated TAT.

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Recent Posts in Corporate Laws

Corporate Laws

MCA issues circular regarding Extension of Companies Compliance Facilitation Scheme, 2026 (CCFS-2026) till 15th September 2026

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Comply with Revised Medical Support Scheme Requirements for Critical/Terminal Illness of Seafarers

28-Aug-2026 | . {6/l {7/2026- I I {lCq!-pill-9l0

This notification revises the implementation procedure for the Medical Support Scheme for Critical/Terminal Illness of the Seafarers’

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Plant Quarantine (Regulation of Import into India) ( Seventh Amendment) Order, 2026

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