**Executive Summary**
The Reserve Bank of India issued Amendment Directions on December 11, 2025, modifying the existing directions for Payments Banks concerning Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). These amendments are a consequence of the Banking Laws (Amendment) Act, 2025 and primarily redefine the term "Fortnight" for reporting purposes, effective December 15, 2025. The document outlines changes to reporting requirements and return submissions.
**Key Points / Main Content**
* **Definition of Fortnight:**
* The definition of "Fortnight" is amended to mean "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."
* **Reporting Changes:**
* References to "Friday" in specified paragraphs are replaced with "day."
* "Each alternate Friday" is replaced with "last day of each fortnight" and associated changes.
* "Final" and "within 20 days from expiry of the relevant fortnight" are removed from paragraph 31.
* Paragraph 33 is deleted entirely.
* **Return Submissions (Form A and Form VIII):**
* Revised Form A and Form VIII returns are available on the Centralised Information Management System (CIMS) portal with new return codes.
* Banks are required to submit a single Form A return fortnightly from December 15, 2025.
* Hard copy submissions of Form A and Form VIII are no longer required; all submissions must be electronic on the CIMS portal with digital signatures.
* Banks must ensure return compliance with IT laws.
* **Transitional Arrangements:**
* During December 13-15, 2025, CRR and SLR maintenance should be based on the Net Demand and Time Liabilities (NDTL) as on November 28, 2025.
* Banks should maintain a minimum CRR of 100% during the transition period.
* Form A return for December 12, 2025, needs to be submitted as per the existing structure.
* Form VIII return of December 2025 to be submitted on CIMS portal with old and new return codes.
* **Amendment to Forms:**
* In Form A, "Friday"/"that Friday" is replaced by "last day of the fortnight"/"last day of that fortnight".
* In Form VIII, “First alternate Friday”, “Second alternate Friday”, “Third alternate Friday' are replaced with “15th day of the Month' and 'Last day of the Month' and 'Friday' is replaced with 'day'/'last day of the fortnight'.
**Impact Analysis**
**Stakeholder: Payments Banks**
* **Impact:**
* Revised definition of 'Fortnight' impacts the calculation and reporting of CRR and SLR.
* Changes to reporting frequency, format, and submission methods.
* Required compliance with new return codes on the CIMS portal.
* **Action Required:**
* Implement changes to CRR/SLR calculations and reporting systems.
* Familiarize themselves with and use the revised Form A and Form VIII.
* Transition to electronic submission of returns via CIMS portal.
* Ensure compliance with applicable IT laws for return submissions.
* Submit Form A return for December 12, 2025, as per the existing structure.
* Submit Form VIII return of December 2025 on CIMS portal with old and new return codes.
Key Entities Referenced
Reserve Bank of India (Payments Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2025: The primary policy document being amended by these directions.
Banking Laws (Amendment) Act, 2025: Act that amended provisions impacting CRR and SLR maintenance.
Reserve Bank of India: The regulator issuing the directions and responsible for overseeing banking activities.
Cash Reserve Ratio (CRR): One of the ratios banks are required to maintain, impacted by these changes.
Statutory Liquidity Ratio (SLR): One of the ratios banks are required to maintain, impacted by these changes.
भारतीय �रज़वर् बैंक
RESERVE BANK OF INDIA
RBI/2025-26/150
DOR.RET.REC.356/12.01.001/2025-26 December 11, 2025
Reserve Bank of India (Payments Banks – Cash Reserve Ratio and Statutory
Liquidity Ratio) Amendment Directions, 2025
Please refer to Reserve Bank of India (Payments Banks – Cash Reserve Ratio and
Statutory Liquidity Ratio) Directions, 2025 dated November 28, 2025.
2. The Banking Laws (Amendment) Act, 2025 has amended various provisions,
including the section 42 of Reserve Bank of India Act, 1934 and the sections 18 and
24 of Banking Regulation Act 1949, relating to maintenance of Cash Reserve Ratio
(CRR) and Statutory Liquidity Ratio (SLR).
3. Pursuant to the enactment of the Banking Laws (Amendment) Act, 2025, the
definition of ‘Fortnight’ has been amended 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”. As notified in the Gazette of India dated December 08,
2025, the enactment date of the stated definition of fortnight is December 15, 2025.
Consequently, the CRR and SLR maintenance and reporting in their returns i.e., Form
A and Form VIII respectively, also stand revised to align with the amended definition
of the fortnight.
4. Accordingly, in exercise of the powers conferred by Section 35A of the Banking
Regulation Act, 1949 and pursuant to Section 42 of the Reserve Bank of India Act,
1934 and Sections 18 and 24 of Banking Regulation Act, 1949, as amended from time
to time, and all other provisions / laws enabling the Reserve Bank of India in this
regard, the Reserve Bank being satisfied that it is necessary and expedient in the
_______________________________________________________________________________________________________________________________________
िविनयमन िवभाग, केंद्रीय कायार्लय, 12वी ंऔर 13वी ंमंिज़ल, नरीमन भवन, नरीमन पॉइंट, मुंबई 400021
Department of Regulation, Central Office, 12th & 13th Floor, Nariman Bhavan, Nariman Point, Mumbai 400021
बैंक िहंदी में पत्राचार का �ागत करता है
Caution: RBI never sends mails, SMSs or makes calls asking for personal information like bank account details, passwords,
etc. It never keeps or offers funds to anyone. Please do not respond in any manner to such offers.public interest so to do, hereby, issues the Amendment Directions hereinafter
specified.
5. These Directions shall be called the Reserve Bank of India (Payments Banks –
Cash Reserve Ratio and Statutory Liquidity Ratio) Amendment Directions, 2025.
6. The provisions shall come into effect from December 15, 2025, except paragraph 7
(viii) (2), which shall be effective from December 12, 2025.
7. These Amendment Directions modify the Reserve Bank of India (Payments Banks
– Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2025 as under:
(i) In paragraph 6 (14), the definition of ‘Fortnight’ shall be redefined as
‘Fortnight’ means 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.
(ii) In paragraphs 6 (18), 9, 21, 23, 24 the words ‘Friday' shall be substituted with
‘day'.
(iii) In paragraph 29, the words ‘each alternate Friday and’ shall be substituted
with ‘last day of each fortnight’, the word 'seven' shall be substituted with 'five'
and the word 'provisional' shall be deleted.
(iv) In paragraph 30, the words 'reporting Friday' shall be substituted with ‘last day
of each fortnight’ and the words ‘that Friday' shall be substituted with ‘last day
of such fortnight’.
(v) In paragraph 31, the words ‘final’ and 'within 20 days from expiry of the
relevant fortnight' shall be deleted.
(vi) The paragraph 33 shall be deleted.
(vii) A paragraph 36 shall be substituted with following paragraph:
“Under the new reporting structure, as amended vide Banking Laws
(Amendment) Act 2025, there shall be no Provisional or Final or Special Form
A return. The banks are required to submit single Form A return. The new
versions of Form A and Form VIII returns are available on the Centralised
Information Management System (CIMS) portal with new return codes. The
banks are required to submit fortnightly Form A return from December 15,
22025 and monthly Form VIII return from December 2025 on the CIMS portal.
Form A and Form VIII are not to be submitted in hard copy / paper returns by
the banks. The banks have to submit these returns in electronic form on CIMS
portal using digital signatures of two authorised officials. While submitting
these returns, banks have to ensure that the same is compliant with the
prevalent IT laws of the country.”
(viii) Two new paragraphs shall be inserted after paragraph 36, namely:
1. “36 A. The maintenance of CRR and SLR during the fortnight
December 16-31, 2025 and the first fortnight of January 2026 (i.e.,
January 1-15, 2026) is to be done by the banks, based on the Net
Demand and Time Liabilities (NDTL) as on November 28, 2025 and
December 15, 2025, respectively. From the subsequent fortnights
starting from January 16, 2026, the maintenance shall be done, as
presently applicable, i.e., based on the NDTL as on the last day of the
second preceding fortnight”.
2. “36 B. During the transition period of three days i.e., December 13-15,
2025, the maintenance of CRR and SLR is to be done by the banks,
based on the Net Demand and Time Liabilities (NDTL) as on
November 28, 2025. Further, the banks shall maintain minimum CRR
of not less than hundred per cent of the required CRR during the
transition period.The banks shall also submit Form A return for
December 12, 2025, as per the extant reporting structure. Further, the
banks are advised to submit Form VIII return of December 2025 on
CIMS portal, both with old and new return codes.”
(ix) In paragraph 37, the words 'alternate Fridays' shall be substituted with ‘last
day of each fortnight' and 'such Fridays' / 'such Friday' shall be substituted
with ‘such day'.
(x) In Annex I (Form A), the word ‘Friday’ / ‘that Friday’ shall be substituted with
‘last day of the fortnight’ / ‘last day of that fortnight’.
(xi) In Annex II (Form VIII),
3• the ‘First alternate Friday’, ‘Second alternate Friday’, ‘Third alternate
Friday’ shall be substituted with ‘15th day of the Month’ and ‘Last day of
the Month’.
• the word ‘Friday’ shall be substituted with ‘day’ / ‘last day of the fortnight’
(xii) In paragraph 26(3)(iii), the word ‘State Development Loans (SDLs) of the’
shall be substituted with ‘State Government Securities of the respective’.
Yours faithfully,
(Manoranjan Padhy)
Chief General Manager
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