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RBI to Move Banking Service Price Index Return Online

Current · Source: Reserve Bank of India · RBI/2021-2022/170 · issued 18 Feb 2022 · ~2 min read
Quick answerRBI will convert the paper-based Banking Service Price Index return to online filing under RRA 2.0 interim recommendations. The exact discontinuation date for the old format will be notified later. Banks must prepare for digital submission.
The rule, in the simplest words
How it plays out — a real example

A branch operations officer in Indore, Mr. Kumar, is preparing his bank's data for the online Banking Service Price Index return. He ensures that all fee income, fee charges, and selective deposit/loan data are accurately captured and formatted for digital submission. This change will help streamline regulatory reporting and reduce the compliance burden for Mr. Kumar and his team.

What changed

RBI announced that the Banking Service Price Index return, currently filed on paper or via email, will be converted to an online filing system. This is part of the second tranche of interim recommendations from the Regulations Review Authority 2.0. The specific date for discontinuation of the old method and launch of online filing will be communicated in due course.

What it means for you

Banks will need to transition from manual or email-based submission of fee income, fee charges, and selective deposit/loan data to a digital platform. This move aims to streamline regulatory reporting and reduce compliance burden. Lenders should start reviewing their data collection processes to ensure readiness for online submission once the date is announced.

What you must do

Who it affects

All Scheduled Commercial Banks (including Regional Rural Banks), Payment Banks, Bank compliance and data reporting teams

❓ Common questions

What is the Banking Service Price Index return?

It is a return that includes data on fees income and fee charges for banking services, along with selective data on deposits and loans.

When will the online filing start?

RBI has not yet announced the exact date. It will be notified in due course, so banks should stay alert for further circulars.

Which banks are affected by this change?

All Scheduled Commercial Banks, including Regional Rural Banks and Payment Banks, are required to comply with this change.

📜 Read the original circular — full text as issued by RBI
RBI/2021-2022/170 CO.DSIM.SMD.No.S482/05-06-004/2021-22 February 18, 2022 SCBs (including Regional Rural Banks) and Payment Banks Madam / Dear Sir, Regulations Review Authority (RRA 2.0) – Interim Recommendations – Second Tranche Please refer to the press release dated February 18, 2022 issued on the captioned subject. 2. As part of the implementation of the interim recommendations of the RRA 2.0, it is proposed to convert, the paper based/ e-mail-based return listed in the Annex , into online filing. 3. The exact date of discontinuation/merger and online filing of the returns, would be notified in due course. Yours faithfully, (Ajit Ratnakar Joshi) Principal Adviser Department of Statistic and Information Management Central Office, Reserve Bank of India Encl: As above Annex List of Return to be converted into Online submission S. No.
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2021-2022/170 · issued 18 Feb 2022. The plain-English explanation above is BankPulse’s own independent summary.
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🛠 Banker’s toolkit — checklists & reply templates →
Who does what — compliance checklist
💻 IT / Systems
  • Prepare your data systems to capture fee income, fee charges, and selective deposit/loan data in a format suitable for online submission.
  • Monitor RBI notifications for the exact discontinuation date of paper/email filing and the launch of the online portal.
📜 Compliance
  • Identify the current process for filing the Banking Service Price Index return and map it to the new online requirements.
  • Train relevant staff on the new online filing procedure once details are released.
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 Compliance officer at a bank this circular applies to (All Scheduled Commercial Banks (including Regional Rural Banks), Payment Banks, Bank compliance and data reporting teams), your first concrete step on “RBI to Move Banking Service Price Index Return Online” is: “Identify the current process for filing the Banking Service Price Index return and map it to the new online requirements.” (RBI issued this 18 Feb 2022).

  1. Circular: RBI/2021-2022/170 -- RBI to Move Banking Service Price Index Return Online
  2. Issued: 18 Feb 2022
  3. Action required: Identify the current process for filing the Banking Service Price Index return and map it to the new online requirements.
  4. Action required: Prepare your data systems to capture fee income, fee charges, and selective deposit/loan data in a format suitable for online submission.
  5. Action required: Monitor RBI notifications for the exact discontinuation date of paper/email filing and the launch of the online portal.
  6. Action required: Train relevant staff on the new online filing procedure once details are released.
  7. Owner: ____________ Target date: ____________
  8. Board/committee approval needed? Y / N
  9. 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.

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BankPulse Compliance Evidence Pack — generated 03 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=12242&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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