The team is scheduled to return home in batches from Wednesday onwards.
The date and venue for the felicitation has not been finalised yet and will be done after checking the availability of the players.
At the ceremony, the players will be presented with cheques of Rs 50 lakh each while the support staff will receive will Rs 25 lakh each, as announced by the BCCI before the final.
"They lost the final but made the nation proud with their performance. The BCCI will organise a felicitation for the team and we are also trying to fix up a meeting with Prime Minister Modi," a BCCI official close to the development, told PTI.
"There is a feeling (among the BCCI and COA) that the surge in popularity of the women's game should be cashed in on. One way to build on the World Cup gains is by having a women's IPL.