RBI Urges Banks to Confirm Filing of Annual Information Return on Savings Bond Subscriptions of ₹5 Lakh+
Current & verified — this is the latest version
Source: Reserve Bank of India · RBI/2005-06/215 · issued 22 Nov 2005 · ~1 min read
Quick answerRBI has directed banks to urgently confirm that they have filed Annual Information Returns with Income Tax authorities for all authorised branches that accepted subscriptions of ₹5 lakh or more from a person during FY 2004-05.
The rule, in the simplest words
Banks must tell the tax department (Income Tax authorities) about any person who bought ₹5 lakh or more in savings bonds in a year.
This rule applies to all branches that accepted bond subscriptions of ₹5 lakh or more from April 1, 2004 to March 31, 2005.
Banks must quickly confirm to RBI that they have already filed this information for all their branches.
If banks don't follow this rule, they could get in trouble with tax or bank regulators.
How it plays out — a real example
An agency-banking (government business) officer in Indore checks her branch's records and sees that a customer bought ₹6 lakh in savings bonds last year. She remembers the RBI rule and makes sure her branch has filed the Annual Information Return with the tax department, then reports back to RBI that everything is done.
What changed
RBI issued a follow-up circular on November 22, 2005, reminding banks of their obligation under Section 285BA of the Income Tax Act, 1961. It specifically asks banks to confirm that all authorised branches have filed the Annual Information Return for bond subscriptions of ₹5 lakh or more received from any person during April 1, 2004 to March 31, 2005.
What it means for you
Banks must ensure strict compliance with tax reporting requirements for high-value bond issuances. This circular signals that RBI is actively monitoring adherence to earlier instructions and expects immediate confirmation of filing. Non-compliance could invite regulatory or tax scrutiny.
What you must do
Verify that all authorised branches have filed the Annual Information Return for bond subscriptions of ₹5 lakh or more received during FY 2004-05.
Submit immediate confirmation to RBI as directed in the circular.
Review internal processes to ensure timely filing of such returns in future periods.
Who it affects
State Bank of India and associate banks, 17 nationalised banks, UTI Bank Ltd, ICICI Bank Ltd, HDFC Bank Ltd, IDBI Bank Ltd, Stock Holding Corporation of India Ltd
❓ Common questions
What is the threshold for reporting under this circular?
The circular applies when the aggregate amount received from a person for Savings Bonds is ₹5 lakh or more in a financial year.
📜 Read the original circular — full text as issued by RBI
RBI/2005-06/215
Ref.No.DGBA.CDD.13.01.299/H-6113/2005-06
November 22, 2005
Agrahayana 01, 1927 (S)
The Chairman/Managing Director State Bank of India/Associate Banks/
17 Nationalised Banks/ UTI Bank Ltd., ICICI Bank Ltd.
HDFC Bank Ltd., IDBI Bank Ltd./ Stock Holding Corporation of India Ltd.
Dear Sir
Submission of Annual Information Return relating to issue of Bonds for Rs.5 lakh or more under Section 285 BA of Income Tax Act, 1961
Please refer to our Circulars No. RBI/2005/96 (Ref.No.DGBA.CDD.13.01.299/H-739-768/2005-06) dated August 5, 2005 and No. DGBA-CDD.13.01.299/H-1627 /2005-06 dated September 3, 2005, advising you to file the Annual Information Return to the Income Tax authorities in respect of Saving Bonds issued by you, if the aggregate of the amount received from a person was Rs.5 lakh or more in a year.
2. In this connection, we advise you to confirm that you have filed the Annual Information Returns in respect of all of your authorised branches which have accepted the subscription of Rs. 5 lakh or more during the period April 1, 2004 to March 31, 2005.
3. Please treat this as urgent and confirm immediately .
Yours faithfully,
(B. B. Sangma)
General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2005-06/215 · issued 22 Nov 2005. The plain-English explanation above is BankPulse’s own independent summary.
Verify that all authorised branches have filed the Annual Information Return for bond subscriptions of ₹5 lakh or more received during FY 2004-05.
📜 Compliance
Submit immediate confirmation to RBI as directed in the circular.
Review internal processes to ensure timely filing of such returns in future periods.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Branch Manager at a bank this circular applies to (State Bank of India and associate banks, 17 nationalised banks, UTI Bank Ltd, ICICI Bank Ltd, HDFC Bank Ltd, IDBI Bank Ltd, Stock Holding Corporation of India Ltd), your first concrete step on “RBI Urges Banks to Confirm Filing of Annual Information Return on Savings Bond Subscriptions of ₹5 Lakh+” is: “Verify that all authorised branches have filed the Annual Information Return for bond subscriptions of ₹5 lakh or more received during FY 2004-05.” (RBI issued this 22 Nov 2005).
Circular: RBI/2005-06/215 -- RBI Urges Banks to Confirm Filing of Annual Information Return on Savings Bond Subscriptions of ₹5 Lakh+
Issued: 22 Nov 2005
Action required: Verify that all authorised branches have filed the Annual Information Return for bond subscriptions of ₹5 lakh or more received during FY 2004-05.
Action required: Submit immediate confirmation to RBI as directed in the circular.
Action required: Review internal processes to ensure timely filing of such returns in future periods.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 05 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=2637&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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