What changed
The definition of 'fortnight' for CRR and SLR purposes has shifted from 'the period from Saturday to the second following Friday, both days inclusive' to 'the period from the first day to the fifteenth day of each calendar month or sixteenth day to the last day of each calendar month, both days inclusive'. References to 'Friday' in specific paragraphs (6(18), 9, 21, 23, 24, 25, 31, 32, 33, 39, Annex I, Annex II) are substituted with 'day' or 'last day of the fortnight'. The provisional/final Form A return structure is abolished in favor of a single fortnightly Form A and monthly Form VIII, both submitted electronically on CIMS with new return codes.
What it means for you
Small Finance Banks must overhaul their internal CRR/SLR computation and reporting schedules to match the new calendar fortnight, effective December 15, 2025. The elimination of provisional and final returns reduces administrative burden but requires strict adherence to electronic submission with dual digital signatures. Banks need to update their systems and train staff on the revised CIMS return codes and timelines.
What you must do
- Update internal CRR/SLR maintenance calendars to reflect the new fortnight definition (1st-15th and 16th-last day) from December 15, 2025.
- Ensure all Form A (fortnightly) and Form VIII (monthly) returns are submitted electronically on CIMS portal using digital signatures of two authorized officials, with no hard copies.
- Replace references to 'Friday' in specific reporting processes as per the Amendment Directions (e.g., in paragraphs 6(18), 9, 21, 23, 24, 25, 31, 32, 33, 39, Annex I, Annex II) with 'day' or 'last day of the fortnight'.
- Eliminate provisional, final, and special Form A returns; only single Form A returns are required from December 15, 2025.
- Train compliance and IT teams on the new CIMS return codes and electronic submission requirements, including IT law compliance.
- Note the transition period December 13-15, 2025: maintain CRR/SLR based on NDTL as on November 28, 2025, with minimum 100% CRR, and submit Form A for December 12, 2025, as per extant structure, and Form VIII for December 2025 with both old and new return codes.
Who it affects
Small Finance Banks, Compliance and reporting teams at SFBs, IT departments managing CIMS submissions, Auditors and internal control functions
When does the new fortnight definition take effect?
The new definition of fortnight (1st-15th and 16th-last day of each month) comes into effect from December 15, 2025, as per the Banking Laws (Amendment) Act, 2025, notified in the Gazette of India dated December 08, 2025.
What happens to the old provisional and final Form A returns?
They are abolished. From December 15, 2025, SFBs must submit a single Form A return fortnightly, and Form VIII monthly, both electronically on CIMS with digital signatures. No hard copies are accepted.
Are there any changes to reporting deadlines?
Yes. References to 'Friday' in specific paragraphs are replaced with 'day' or 'last day of the fortnight'. The words 'provisional' and 'final' are deleted, and the 20-day final return deadline is removed. The last day of each fortnight becomes the reference point for reporting.