What changed
The definition of 'fortnight' for CRR and SLR maintenance is amended from the old Saturday-to-second-Friday period to two fixed monthly periods: 1st to 15th and 16th to last day of each month, effective December 15, 2025, with a transition period December 13-15, 2025. This follows the Banking Laws (Amendment) Act, 2025. Consequently, all references to 'Friday' in the Directions are replaced with 'day', and the reporting structure is simplified: provisional, final, and special Form A returns are abolished, replaced by a single fortnightly Form A return. The deadline for submitting Form A is reduced from 20 days to 5 days after the fortnight ends, and the word 'provisional' is removed from paragraph 29, with 'seven' substituted by 'five' and 'each alternate Friday and' by 'last day of each fortnight'.
What it means for you
Payments banks must align their CRR/SLR maintenance and reporting cycles to the new calendar-month-based fortnight definition from December 15, 2025, with a transition period December 13-15, 2025. The shift eliminates the old Friday-based reporting and streamlines compliance to a single electronic return per fortnight, reducing administrative burden. However, the tighter 5-day submission window (down from 20 days) demands faster internal reconciliation and reporting processes. Banks must ensure their systems are updated to generate and submit the new Form A and Form VIII returns via the CIMS portal with digital signatures, and cease hard copy submissions.
What you must do
- Update internal systems to compute CRR/SLR based on the new fortnight periods (1st-15th and 16th-last day of each month) effective December 15, 2025.
- Replace all references to 'Friday' in your reporting workflows with 'last day of each fortnight' as per the amended Directions.
- Transition to the single Form A return (no provisional/final) and submit it within 5 days of fortnight-end via CIMS portal with digital signatures.
- Ensure Form VIII (monthly) is submitted electronically from December 2025 onwards, and cease all hard copy submissions.
- Train compliance teams on the new return codes and CIMS portal submission process before the December 15, 2025 effective date.
Who it affects
Payments banks in India, Compliance and treasury departments of payments banks, RBI reporting and supervision teams
When does the new fortnight definition take effect?
The amended definition of 'fortnight' takes effect from December 15, 2025, as notified in the Gazette of India on December 8, 2025.
What happens to the old provisional and final Form A returns?
They are abolished. From December 15, 2025, payments banks must submit a single fortnightly Form A return electronically on the CIMS portal, with no provisional or final versions.
How many days do we have to submit the new Form A return?
The submission deadline is reduced to 5 days from the end of each fortnight, down from the previous 20 days.