Reserve Bank of India – Press Releases

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The Reserve Bank of India (RBI) has imposed, by an order dated July 02, 2021, a monetary penalty of ₹25.00 lakh (Rupees twenty five lakh only) on Punjab and Sind Bank (the bank) for non-compliance with certain provisions of directions issued by RBI on ‘Cyber Security Framework in Banks’ dated June 2, 2016.

This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banking Regulation Act, 1949. This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The bank had reported a few cyber incidents to RBI on May 16 and May 20, 2020. Examination of the incident reports and the report of the forensic analysis of the said incidents, revealed, non-compliance with aforesaid directions. In furtherance to the same, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions issued by RBI, as stated therein.

After considering the bank’s reply to the show cause notice, oral submissions made during the personal hearing and examination of further clarifications/documents furnished by the bank, RBI came to the conclusion that to the extent the charges of non-compliance with RBI directions were substantiated, it warranted imposition of monetary penalty.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/483

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LIC Housing Finance cuts interest rates to 6.66%

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LIC Housing Finance Ltd (LICHFL) has cut its home loan interest rate from 6.90 per cent to 6.66 per cent under a special limited period offer. This interest rate is applicable for home loans up to ₹50 lakh for salaried individuals. This is probably the lowest home loan interest currently being offered by any lender.

The housing finance company, in a statement, said new borrowers whose loans are getting sanctioned till August 31, 2021 will be eligible for the special offer provided the first disbursement is availed on or before September 30, 2021.

LICHFL said the rate of interest offered is linked to the borrower’s creditworthiness, as reflected by their CIBIL scores. “At 6.66 per cent, LIC Housing Finance Ltd has offered its lowest ever rate of interest on housing loans with a maximum tenure of 30 years,” the company said.

Also read: Centre’s big push to LIC’s mega IPO

MD and CEO Viswanatha Gowd added, “…Considering the impact of the pandemic, we wanted to offer an interest rate that would help in uplifting the overall sentiments and aid more individuals to fulfil their dream of owning their own house. “We hope that this reduction in home loan interest rate will further boost customer confidence and help in early revival of the sector.”

Currently, State Bank of India (SBI) offers home loans at interest rate starting from 6.70 per cent. Lenders such as HDFC and Kotak Mahindra Bank offer home loans at interest rates starting from 6.75 per cent. Kotak Mahindra Bank is quoting special interest rate of 6.65 per cent for balance transfers.

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Reserve Bank of India – Press Releases

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The following State Governments have offered to sell securities by way of an auction, for an aggregate amount of ₹ 14,400 Cr. (Face Value). The revision is due to the addition of Chhattisgarh.

Sr. No. State/ UT Amount to be raised
(₹ Cr)
Additional Borrowing (Greenshoe) Option
(₹ Cr)
Tenure
(Yrs)
Type of Auction
1 Andhra Pradesh 1000 16 Yield
1000 17 Yield
2 Assam 500 5 Yield
3 Bihar 2000 6 Yield
4 Chhattisgarh 1000 7 Yield
5 Goa 100 10 Yield
6 Gujarat 1000 9 Yield
7 Maharashtra 1000 500 10 Yield
1000 11 Yield
8 Mizoram 100 13 Yield
9 Punjab 1200 Re-issue of 6.95% Punjab SDL 2031 issued on June 30, 2021 Price
10 Rajasthan 1000 10 Yield
11 Tamil Nadu 1000 10 Yield
1000 Re-issue of 6.83% Tamil Nadu SDL 2031 issued on June 23, 2021 Price
12 West Bengal 1500 7 Yield
  TOTAL 14,400      

The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on July 06, 2021 (Tuesday). The Government Stock up to 10% of the notified amount of the sale of each stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on July 06, 2021 (Tuesday). The non-competitive bids should be submitted between 10.30 A.M. and 11.00 A.M. and the competitive bids should be submitted between 10.30 A.M. and 11.30 A.M.

In case of technical difficulties, Core Banking Operations Team (email; Phone no: 022-27595666, 022-27595415, 022-27523516) may be contacted.

For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends.

The yield percent per annum expected by the bidder should be expressed up to two decimal points. An investor can submit more than one competitive bid at same/different rates of yield or prices in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a bidder should not exceed the notified amount for each State.

The Reserve Bank of India will determine the maximum yield /minimum price at which bids will be accepted. Securities will be issued for a minimum nominal amount of ₹10,000.00 and multiples of ₹10,000.00 thereafter.

The results of the auction will be announced on July 06, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on July 07, 2021 (Wednesday) at Mumbai and at respective Regional Offices of RBI.

The State Government Stocks will bear interest at the rates determined by RBI at the auctions. For the new securities, interest will be paid half yearly on January 07 and July 07 of each year till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and Government Securities Regulations, 2007.

The investment in State Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949. The stocks will qualify for the ready forward facility.

Ajit Prasad
Director   

Press Release: 2021-2022/482

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Reserve Bank of India – Tenders

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E-Tender Notice No. – RBI/Lucknow/Estate/498/20-21/ET/771

Please refer to the notice corresponding to the captioned subject published on the Bank’s website www.rbi.org.in on May 24, 2021 inviting E-Tender for Design, Supply, Installation, Testing and Commissioning of Grid Interactive (through Net-Metering) 25 KWp SPV based Solar Plant for Bank’s Residential Colony, Aliganj, Lucknow. The date for opening of tender was specified as July 02, 2021.

Extension of Date

It is advised that the date for submission of tender for Design, Supply, Installation, Testing and Commissioning of Grid Interactive (through Net-Metering) 25 KWp SPV based Solar Plant for Bank’s Residential Colony, Aliganj, Lucknow has been extended to July 09, 2021. The tender will be opened at 15:00 PM on July 09, 2021.

All other terms and conditions mentioned in the tender remain unchanged.

Regional Director
Reserve Bank of India
Lucknow

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Reserve Bank of India – Press Releases

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Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:

Sr. No Treasury Bill Notified Amount
(in ₹ crore)
Auction Date Settlement date
1 91 Days 9,000 July 07, 2021
(Wednesday)
July 08, 2021
(Thursday)
2 182 Days 4,000
3 364 Days 4,000
  Total 17,000    

The sale will be subject to the terms and conditions specified in the General Notification F.No.4(2)-W&M/2018 dated March 27, 2018 along with the Amendment Notification No.F.4(2)-W&M/2018 dated April 05, 2018, issued by Government of India, as amended from time to time. State Governments, eligible Provident Funds in India, designated Foreign Central Banks and any person or institution specified by the Bank in this regard, can participate on non-competitive basis, the allocation for which will be outside the notified amount. Individuals can also participate on non-competitive basis as retail investors. For retail investors, the allocation will be restricted to a maximum of 5 percent of the notified amount.

The auction will be Price based using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India’s Core Banking Solution (E-Kuber) system on Wednesday, July 07, 2021, during the below given timings:

Category Timing
Competitive bids 10:30 am – 11:30 am
Non-Competitive bids 10:30 am – 11:00 am

Results will be announced on the day of the auction.

Payment by successful bidders to be made on Thursday, July 08, 2021.

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595666, 022-27595415, 022-27523516). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Ajit Prasad
Director   

Press Release: 2021-2022/481

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Directive on unclaimed maturity proceeds of TDs

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The Reserve Bank of India (RBI) on Friday said unclaimed maturity proceeds of term deposits (TDs) with banks will attract the rate of interest as applicable to savings account or the contracted rate of interest on the matured TD, whichever is lower.

This directive comes in the backdrop of TD rates of some of the small finance banks being higher than savings bank (SB) rate (on deposits above ₹1 lakh) in the less than one-year and above five years maturity buckets.

Hitherto, if a term deposit matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract interest rate as applicable to savings deposits.

Also read: At G-Sec auctions, bid at yields closer to the prevailing secondary market level: RBI to PDs

But after reviewing its “instructions on interest on overdue domestic deposits”, the RBI said: “it has been decided that if a TD matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract rate of interest as applicable to savings account or the contracted rate of interest on the matured TD, whichever is lower.”

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Reserve Bank of India – Press Releases

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The results of the auctions of 5.63% Government Stock 2026 (Re-Issue), GoI FRB 2033 (Re-Issue), 6.64% Government Stock 2035 (Re-Issue) and 6.67% Government Stock 2050 (Re-issue) held on July 02, 2021 are:

Auction Results 5.63% GS 2026 GoI FRB 2033 6.64% GS 2035 * 6.67% GS 2050
I. Notified Amount ₹11000 Crore ₹4000 Crore ₹10000 Crore ₹7000 Crore
II. Underwriting Notified Amount ₹11000 Crore ₹4000 Crore ₹10000 Crore ₹7000 Crore
III. Competitive Bids Received        
(i) Number 210 106 334 176
(ii) Amount ₹21148 Crore ₹18016.615 Crore ₹28515.843 Crore ₹17533.5 Crore
IV. Cut-off price / Yield 99.60 99.90 99.07 94.31
(YTM: 5.7246%) (YTM: 4.9251%) (YTM: 6.7433%) (YTM: 7.1345%)
V. Competitive Bids Accepted        
(i) Number 2 8 164 85
(ii) Amount ₹500 Crore ₹3999.975 Crore ₹12497.234 Crore ₹6989.035 Crore
VI. Partial Allotment Percentage of Competitive Bids 0.00% 45.83% 6.86% 23.95%
(0 Bids) (3 Bids) (15 Bids) (1 Bid)
VII. Weighted Average Price/Yield 99.61 99.94 99.13 94.49
(WAY: 5.7222%) (WAY: 4.9207%) (WAY: 6.7366%) (WAY: 7.1191%)
VIII. Non-Competitive Bids Received        
(i) Number 3 2 4 6
(ii) Amount ₹5.222 Crore ₹0.025 Crore ₹2.766 Crore ₹10.965 Crore
IX. Non-Competitive Bids Accepted        
(i) Number 3 2 4 6
(ii) Amount ₹5.222 Crore ₹0.025 Crore ₹2.766 Crore ₹10.965 Crore
(iii) Partial Allotment Percentage 100% (0 Bids) 100% (0 Bids) 100% (0 Bids) 100% (0 Bids)
X. Amount of Underwriting accepted from primary dealers ₹11000 Crore ₹4000 Crore ₹10000 Crore ₹7000 Crore
XI. Devolvement on Primary Dealers ₹10494.778 Crore 0 0 0
* Greenshoe amount of ₹2,500 crore has been accepted

Ajit Prasad
Director   

Press Release: 2021-2022/480

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Reserve Bank of India – Press Releases

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The Reserve Bank of India (RBl) has imposed, by an order dated July 02, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Nagar Sahkari Bank Limited, Etawah (the bank) for contravention of section 35A read with section 56 of the Banking Regulation Act, 1949 and regulations on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ .This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid provisions of the Act and directions issued thereunder by RBI.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The inspection report of the bank based on its financial position as on March 31, 2019, revealed, inter alia, that the bank failed to adhere to the provisions related to IRAC Norms. Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for violation of the said directions.

After considering the bank’s written reply and oral submissions made by the bank during personal hearing and subsequent additional submissions, RBI came to the conclusion that the aforesaid charge of non-adherence/violation of provisions of the Act and directions issued thereunder by RBI was substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/479

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Reserve Bank of India – Press Releases

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1. Reserve Bank of India – Liabilities and Assets*
(₹ Crore)
Item 2020 2021 Variation
Jun. 26 Jun. 18 Jun. 25 Week Year
1 2 3 4 5
4 Loans and Advances          
4.1 Central Government
4.2 State Governments 3416 11799 6526 -5273 3110
* Data are provisional.

2. Foreign Exchange Reserves
Item As on June 25, 2021 Variation over
Week End-March 2021 Year
₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn.
1 2 3 4 5 6 7 8
1 Total Reserves 4519253 608999 55237 5066 300300 32015 684930 102162
1.1 Foreign Currency Assets 4201958 566240 51406 4700 277791 29546 664379 98636
1.2 Gold 269344 36296 3767 365 21621 2416 15734 2773
1.3 SDRs 11119 1498 41 0 255 13 193 54
1.4 Reserve Position in the IMF 36832 4965 22 1 634 41 4623 698
*Difference, if any, is due to rounding off

4. Scheduled Commercial Banks – Business in India
(₹ Crore)
Item Outstanding as on Jun. 18, 2021 Variation over
Fortnight Financial year so far Year-on-year
2020-21 2021-22 2020 2021
1 2 3 4 5 6
2 Liabilities to Others            
2.1 Aggregate Deposits 15298539 -14614 299635 185026 1374661 1431411
2.1a Growth (Per cent)   –0.1 2.2 1.2 11.0 10.3
2.1.1 Demand 1754133 23857 -164563 -107060 163612 301693
2.1.2 Time 13544405 -38471 464198 292086 1211049 1129718
2.2 Borrowings 249201 6726 -22570 5176 -70268 -37668
2.3 Other Demand and Time Liabilities 631791 41881 -84173 -24816 29216 112288
7 Bank Credit 10841866 -1559 -125183 -107643 596909 596188
7.1a Growth (Per cent)   –0.0 –1.2 –1.0 6.2 5.8
7a.1 Food Credit 86912 -3064 37525 25658 17870 -2377
7a.2 Non-food credit 10754953 1505 -162708 -133301 579040 598565

6. Money Stock: Components and Sources
(₹ Crore)
Item Outstanding as on Variation over
2021 Fortnight Financial Year so far Year-on-Year
2020-21 2021-22 2020 2021
Mar. 31 Jun. 18 Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 18844594 19168056 -4359 0.0 519527 3.1 323462 1.7 1903387 12.3 1848565 10.7
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 2751828 2887414 10263 0.4 217332 9.2 135585 4.9 450404 21.3 320334 12.5
1.2 Demand Deposits with Banks 1995136 1889371 23617 1.3 -164718 -9.5 -105765 –5.3 169698 12.1 316398 20.1
1.3 Time Deposits with Banks 14050278 14341076 -38552 -0.3 466705 3.7 290797 2.1 1274253 10.7 1200355 9.1
1.4 ‘Other’ Deposits with Reserve Bank 47351 50194 314 0.6 209 0.5 2844 6.0 9032 30.4 11479 29.6
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 5850374 5919990 -105346 -1.7 539625 10.9 69616 1.2 910873 19.8 420003 7.6
2.1.1 Reserve Bank 1099686 1049521 -58800   131704   -50164   204200   -74375  
2.1.2 Other Banks 4750689 4870469 -46546 -0.9 407921 10.3 119780 2.5 706673 19.3 494378 11.3
2.2 Bank Credit to Commercial Sector 11668469 11551981 -274 0.0 -136271 -1.2 -116488 –1.0 643980 6.3 649608 6.0
2.2.1 Reserve Bank 8709 5749 3785   -5979   -2960   -1256   -1438  
2.2.2 Other Banks 11659760 11546232 -4059 0.0 -130292 -1.2 -113528 –1.0 645236 6.3 651046 6.0

8. Liquidity Operations by RBI
(₹ Crore)
Date Liquidity Adjustment Facility MSF* Standing Liquidity Facilities Market Stabilisation Scheme OMO (Outright) Long Term Repo Opera tions& Targeted Long Term Repo Opera tions# Special Long- Term Repo Operations for Small Finance Banks Special Reverse Repo£ Net Injection (+)/ Absorption (-) (1+3+5+6 +9+ 10+11+ 12-2- 4-7-8-13)
Repo Reverse Repo* Variable Rate Repo Variable Rate Reverse Repo Sale Purchase
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Jun. 21, 2021 314349 0 100 -314249
Jun. 22, 2021 345816 0 10199 160 -335457
Jun. 23, 2021 349005 0 200 -348805
Jun. 24, 2021 345721 0 -345721
Jun. 25, 2021 354255 2 -354253
Jun. 26, 2021 2541 91 -2450
Jun. 27, 2021 6001 59 -5942
* Includes additional Reverse Repo and additional MSF operations (for the period December 16, 2019 to February 13, 2020)
# Includes Targeted Long Term Repo Operations (TLTRO) and Targeted Long Term Repo Operations 2.0 (TLTRO 2.0) and On Tap Targeted Long Term Repo Operations. Negative (-) sign indicates repayments done by Banks.
& Negative (-) sign indicates repayments done by Banks.
£ As per Press Release No. 2021-2022/177 dated May 07, 2021. From June 18, 2021, the data also includes the amount absorbed as per the Press Release No. 2021-2022/323 dated June 04, 2021.

The above information can be accessed on Internet at https://wss.rbi.org.in/

The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762).

Time series data are available at https://dbie.rbi.org.in

Ajit Prasad
Director   

Press Release: 2021-2022/478

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Reserve Bank of India – Tenders

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Minutes of the Pre-Bid Meeting held on June 30, 2021 with respect to the Tender for Providing Integrated Facility Management Service (IFMS) at College of Agricultural Banking (CAB), Pune and its other premises uploaded on the MSTC portal on June 21, 2021

The Pre-Bid Meeting for the Integrated Facility Management Service (IFMS) was held on June 30, 2021 at 11.00 AM via Cisco WebEx. The meeting was chaired by Principal, CAB and attended by Vice-Principal, CAB, officials of RBI and prospective bidders. All the vendor representatives were requested to put forth their doubts/ queries which were discussed and clarified as below. It was reiterated that this is supplementary to the tender document and will form part of the tender document. In case there is any conflict between the tender document and the corrigendum, the latter shall prevail:

Sr. No. Doubts/ queries raised Clarifications provided 1. Clarification was sought on the consideration of increase in Consumer Prices Index for industrial workers at the time of renewal of contract. Please refer to corrigendum. 2. Is EMD mandatory or any alternative like bid security declaration or bank guarantee can be provided?

Can requirement of EMD be exempted for MSMEs?

As per our internal guidelines, no alternative for EMD will be accepted.

As per our internal guidelines, EMD is mandatory for all the bidders.

3. If there is change in any applicable taxes, local levies, etc., imposed by Central/State Government/Local bodies, will the same be paid? Payments will be made as per the applicable taxes, local levies, etc., imposed by Central/State Government / Local bodies. 4. Whether manpower is required to be deployed on all days of week. The deployment of manpower given in Section VII of the tender document takes into consideration availability of manpower on all days including relievers. 5. Whether it will be the responsibility of the vendor to ensure that no persons shall create any disruption/hindrance/problem of any nature in CAB either explicitly or implicitly, after expiry/termination of the contract. The contractor shall remove all staff/workers deployed by him from the premises of CAB on expiry/termination of the contract and ensure that no such persons shall create any disruption/ hindrance/ problem of any nature in CAB either explicitly or implicitly. 6. Whether conditions related to termination of contract on page 24, para 44 could be changed? It is clarified that, conditions mentioned in para 44, page 24 of tender document related to termination of contract need to be strictly followed. 7. Whether tender can be signed by the authorised Power of Attorney holders also (para 45 iii – page 25)? Please refer to corrigendum. 8. Can the arbitrator to be appointed in case of disputes related to agreement be appointed by mutual consent instead of by CAB, Pune? No. Please refer to para 40 and 41 on page 24 of tender document. 9. Will the cost of supply of welcome kits have to be borne by the contractor? CAB will provide the welcome kits, or the contractor will have to supply the same on reimbursement basis. 10. Is the Organic Waste converter (OWC) Plant provided by CAB, Pune or to be arranged by contractor at own cost? OWC plant is available & operational in CAB Campus. 11. Whether dead plants will have to be replaced by the contractor at own cost? The damaged plants / lawns etc. including dead plants shall be got replaced at the cost of the contractor. 12. Whether labour charges/minimum labour charges will be paid w.r.t catering services provided by the vendor? The conditions mentioned in the tender contract need to be strictly adhered to. No separate compensation will be paid for staff deployed for catering purpose. 13. Whether payment for catering facilities will be paid by CAB, Pune Payment related to meals provided for National / International participants of the training programmes being conducted at the College, Guests, Guest Faculties will be paid by CAB, Pune at contracted rates.

Payment for catering facilities provided to staff employees and other vendors in the Canteen & users of Visiting Officers’ Flats/THH will be borne by them based on rates decided by mutual consent.

Bidders may contact CAB to know the existing rates of staff canteen and VOF.

14. Does the client certificate mentioned in Annexure II need to be in the specified format? Client certificates incorporating all the information mentioned in the format as given in Annexure II will be accepted. However, if any information is missing/not matching our requirements, the same will not be considered. 15. Can the Certificate required as per format given in Annexure VI be certified by Chartered Accountant (CA)? The certificate has been amended.
Please refer to corrigendum. 16. Clarification required on certificate as per Annexure XIV-A The certificate has been amended.
Please refer to corrigendum. 17. Is the initial period of contract 8 months? The period of contract is generally aligned with the Financial Year of RBI which is from April-March. Hence the initial period of contract is till March 31, 2022. However, the contract is renewable for further 2 years subject to conditions outlined in the tender. 18. Clarification was sought for eligibility criteria outlined in para 1.2 on page 13 of tender namely

“The bidder should have minimum 5 years of experience of undertaking similar works viz., ‘Providing Integrated Facility Management Services at ………., on or before April 30, 2016.”

Whether the total experience needs to be of 5 years continuously from 2016 to 2021 or the experience needs to be in last 5 years irrespective of the completion period?

The experience needs to be in last 5 years irrespective of the completion period. For establishing the same the bidder should submit copy/copies of work order/s for similar work, issued to the bidder, on or before April 30, 2016. 19. Whether the work orders to be provided by the bidder for evaluation should have all the work areas as mentioned in the CAB tender in a single work order? Please refer to Section III of the tender document. 20. Whether para 23 on page 22 pertaining to penalty clauses can be modified to reduce the penalty? All the conditions mentioned in the para 23 on page 22 of tender document will be strictly applicable. 21. How is the location-wise manpower deployment requirement? The deployment of manpower as mentioned in Section VII of tender document to different locations will be decided by CAB. 22. Clarification was sought on the nature of complaint management system required to be provided by vendor. The contractor is required to have an application based (mobile) complaint management system which should enable prompt response by raising alerts for immediate action and regular monitoring of the work done through scroll reports generated for our perusal and for separate audit if required.

Bidders not having such an application-based system are liable to be rejected.

23. Whether a separate insurance policy as stated in para no. 18 on page 20 will have to be taken for vendor staff even when they are covered under ESIC? Yes. All the conditions mentioned in para No. 18 on page 20 of tender document are to be strictly followed. 24. Whether the firm shall have to arrange the required connection from the Bank’s source of supply of water / electricity without any extra claim on the Bank? What will be the source of supply? Yes. Source of supply shall be existing water/electricity points available at various locations of the Properties. 25. Whether any regulatory guidelines/standards pertaining to functioning of canteen are applicable? The vendors will have to strictly adhere to the scope of work and terms and conditions outlined in the tender. While the College expects high standards of work efficiency, no regulatory guidelines have been prescribed. 26. Are catering employees allowed to stay in campus considering the canteen timings? Residential accommodation shall not be provided by CAB, RBI to the staff/workmen of the vendor. However, one chef and two helpers/waiters of the vendor will be allowed to stay in the premises of CAB, RBI to attend to early/late hour duties. Their presence, however, should not cause any disturbance to normal functioning of the College. 27. Whether the equipment, tools and tackles required for different work areas will be provided by the CAB? The scope provided in the tender clearly outlines the equipment expected to be available with the vendor and that which would be provided by CAB. 28. Whether the toiletries will be provided by CAB or to be procured by vendor at own cost? Toiletries will be provided by CAB or will have to be procured by vendor on reimbursement basis. 29. Whether charges for inter-campus travel by staff will be provided by CAB? All travel charges related to the scope as outlined in the tender will be borne by the vendor. 30. Whether there is any limit on the liability to be borne by the vendor in case of breach of conditions of the contract? There is no upper limit on the liability to be borne by the vendor in case of breach of conditions of the contract. 31. Whether experience requirement for staff to be deployed can be reduced? No. 32. Can the minimum work force mentioned in para 1.3(f) on page 13 can be reduced? Condition mentioned in para 1.3 (f) is strictly applicable. 33. Whether the turnover requirement is for overall turnover or IFMS related turnover? Please refer to corrigendum. 34. Whether subletting any portion of the contract is allowed? Please refer to para 46 on page 25 of the tender document. 35. Whether additional payments will be made for works done not outlined in the scope. While the CAB reserves the right to modify/change the scope of work as per its needs, no additional payment will be made for minor works assigned in addition to original work. In cases of major works, the same will be paid by CAB. 36. Whether the manpower deployment provided in section VII includes all premises of CAB? Yes. 37. Whether there is a schedule for attending to various complaints as outlined in the scope? All complaints outlined in the scope will have to be attended on an immediate basis. 38. The number of tanks and their capacity to be provided. The number & capacity of water tanks available at various locations of premises is as follows:

48 Overhead tanks and 8 underground tanks with capacities ranging from 700 litres to 20000 litres.

39. Will the plumber be required to liaison with PMC? Yes. The plumber / firm’s representatives will be required to liaison with PMC for any shortfall in demand of water or any other matters to be dealt with the authorities. 40. List of utilities in place, their OEM and AMC details, list of potted plants. Bidder may seek appointment to visit CAB, Premises for obtaining necessary information in this regard. 41. Whether loss of cutlery due to breakage will have to be borne by the vendor? Loss/ damage of cutlery due to vendor staff will be recovered from the vendor. However, loss/damage due to other reasons will be borne by CAB 42. Whether the vendor is required to have a full-fledged office in Pune. The vendor should have a full-fledged office with sufficient qualified staff to provide IFMS service in Pune. 43. Any relaxation in eligibility/EMD/SD or evaluation criteria will be given to MSMEs? As per our internal guidelines, provisions of section 11 of MSMED Act, 2006 are not applicable to RBI and therefore the notification issued by Government of India under the above Act is also not applicable to RBI. Hence, no relaxation will be given to MSMEs. 44. Whether minimum deployment of catering will be 10 staff at all times? The number of staff requirement can be reduced or increased based on the need and the decision will be taken by CAB. 45. Whether any minimum guaranteed amount will be paid for catering services? No. The payment for catering services will be made based on actual per meal/item basis. 46. Whether any cold storage facility is available for catering purpose? Limited cold storage facility is available with CAB.
Sr no. Para No./ Page No. Original as per tender document Revised 1 Page No. 9

Para no. 1

Section I-Notice Inviting Tender (NIT)

College of Agricultural Banking (CAB), Reserve Bank of India, Pune-411016, hereinafter referred to as “the CAB”, invites E-tenders under Two – Bid system (Technical & Financial Bid) for the work, viz “Providing Integrated Facility Management Service (IFMS) at CAB and its premises (as detailed in Annexure XIII)”. IFMS will comprise of Facility Management and Housekeeping, Maintenance of Plumbing and Sanitary, Electrical, Electro-mechanical and Carpentry Installations in the Premises, Horticultural works, Pest Control Treatment, OWC, and Catering services. The initial agreement shall be for provision of the said service for a period from August 01, 2021 to March 31, 2022, which shall be extendable up to two more years (April-March) subject to mutual consent of both the parties and based on the satisfactory performance of the Service Provider/contractor and on the basis of increase in Consumer Prices Index for industrial workers. The price index for renewal will be considered before six-month index of the contract period. College of Agricultural Banking (CAB), Reserve Bank of India, Pune-411016, hereinafter referred to as “the CAB”, invites E-tenders under Two – Bid system (Technical & Financial Bid) for the work, viz “Providing Integrated Facility Management Service (IFMS) at CAB and its premises (as detailed in Annexure XIII)”. IFMS will comprise of Facility Management and Housekeeping, Maintenance of Plumbing and Sanitary, Electrical, Electro-mechanical and Carpentry Installations in the Premises, Horticultural works, Pest Control Treatment, OWC, and Catering services. The initial agreement shall be for provision of the said service for a period from September 01, 2021 to March 31, 2022, which shall be extendable up to two more years (April-March) subject to mutual consent of both the parties and based on the satisfactory performance of the Service Provider/contractor taking into consideration the statutory rates like Basic Wages, VDA, EPF, ESI, Bonus, GST, etc. 2 Page No. 16

Para No. A

Financial Turnover
Average Turnover of IFMS works during the last three financial years (2017-18, 2018-19, 2019-20) Financial Turnover
Average Turnover during the last three financial years (2017-18, 2018-19, 2019-20) 3 Page No. 25

Para no. 45 (iii)

Section IV- Part 1- General and Special Conditions and Instructions to Tenderers

The Tender submitted on behalf of a firm shall be signed by all the partners of the firm or a partner who has the necessary authority on behalf of the firm to enter into the proposed contract. Otherwise, the Tender may be rejected. The Tender submitted on behalf of a firm shall be signed by all the partners of the firm or a partner or any other person having Power of Attorney who has the necessary authority on behalf of the firm to enter into the proposed contract. Otherwise, the Tender may be rejected. 4 Page no. 67

Annexure VI

FORM OF BANKERS’ CERTIFICATE FROM A SCHEDULED BANK Revised format as below 5 Page No. 83

Annexure XIV-A

Format has been amended Revised format as below

The above firm is considered financially sound to be entrusted with the contract for works estimated to cost ₹ 309 Lakh.

1. Bankers’ certificates should be on letter head of the bank, sealed in cover addressed to enlistment authority.

In case of partnership firm, certificate to include names of all partners as recorded with the bank.

1. Whether having any Office at Pune:

(If Yes, please provide Address, name of contact persons and details of contact (e-mail Id / Phone, etc.)

2. Please indicate the status of the Office: (Full-fledged regional Office/Branch Office). The firm should have its own office (s) in Pune with sufficient qualified technical personnel in providing IFMS Service.

3. No. of Permanent staff at the Centre:

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