Reserve Bank of India – Tenders

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1. Reserve Bank of India invites competitive e-tenders/ e-bids for Reserve Bank of India invites competitive e-tenders/ e-bids for Design, Supply, Installation, Testing and Commissioning (DSITC) of Grid Interactive SPV based 104 KWp Solar Power Plant (SPP) for RBI at Byculla Office Building, RBI Officers Quarters at BKC, RBI Officers Quarters at Kailash, Malad (East), RBI Staff Quarters at Bhandup and RBI Staff Quarters at Chembur in Mumbai from eligible bidders as per the specified pre-qualification criteria. The work is estimated to cost of ₹60 Lakhs and the contract duration shall be 16 weeks from the 14th day of work order.

2. The Earnest Money Deposit (EMD) shall be submitted in the form of Demand Draft, NEFT or Bank Guarantee from scheduled bank. The Demand Draft shall be submitted in sealed cover addressed by name to Shri Ajay Michyari, Regional Director, Reserve Bank of India, Bandra Kurla Complex, Mumbai – 400051 so as to reach Estate Office, Bandra Kurla Complex, Reserve Bank of India, Mumbai – 400051 up to 2.00 PM on October 11, 2021 superscribed as “EMD for Design, Supply, Installation, Testing and Commissioning (DSITC) of Grid Interactive SPV based 104 KWp Solar Power Plant (SPP) for RBI at Byculla Office Building, RBI Officers Quarters at BKC, RBI Officers Quarters at Kailash, Malad (East), RBI Staff Quarters at Bhandup and RBI Staff Quarters at Chembur in Mumbai. Online tenders will be available for viewing /downloading by all firms till 02:00 PM on October 11, 2021.

3. All the Pre-Qualification papers shall be submitted by hard copy or e-mail on or before September 16, 2021. The same shall be examined by the Bank and the eligible participants shall be intimated accordingly.

4. The firms which do not comply with the following pre-qualification criteria and/or do not submit EMD will not be considered for opening of their tender Part-II (Price Bid):

a) The intending bidder must have minimum 5 years of experience in carrying out similar nature of works viz. Design, Supply, Installation, Testing and Commissioning (DSITC) of Grid Interactive SPV based Solar Power Plant (SPP). The similar work* should have been completed on or before March 31, 2016.

b) The intending bidder must have executed successfully “Design, Supply, Installation, Testing and Commissioning (DSITC) of Grid Interactive SPV based Solar Power Plant (SPP), during last five years ending on March 31, 2021 as under:

(a) Three works each costing not less than 40% of Rs. 60 Lakh

OR

(b) Two works each costing not less than 50% of Rs. 60 Lakh

OR

(c) One work costing not less than 80% of Rs. 60 Lakh

c) Minimum yearly turnover of 100% of the estimated cost during last 3 financial years ending March 31, 2021, supported by audited financial statements.

d) Should furnish solvency certificate issued by applicant’s Banker for the estimated cost of work.

5. In addition to above, intending bidders shall also submit following details and supporting documents along with PQ papers for Bank’s examination:

(a) Composition of the firm Full particulars (whether contractor is an individual, or a partnership firm, or a company etc.,) of the composition of the firm of contractors in details should be submitted along with name(s) and address (es), of the partner’s copy of the Articles of Association/ Power of Attorney/other relevant document.
(b) Work experience & Completion of similar works of specified value during the specified period Copies of the detailed work orders indicating date of award, value of awarded work, time given for completing the work etc. and the corresponding completion certificates indicating actual date of completion and actual value of executed similar works should be enclosed in proof of the work experience. The details along with documentary evidence of previous experience, if any, of carrying out works for the Reserve Bank of India at any Centre, should also be given.
(c) Turnover Audited financial statements for last three financial years i.e. 2018-19, 2019-20 and 2020-21 along with a certificate of Chartered Accountant indicating the turnover for these financial years.
(d) Credit worthiness of the contractor and their turnover during the specified period Copies of the Income Tax Clearance Certificates/Income Tax Assessment Orders along with the latest final accounts of the business of the contractor duly certified by a Chartered Accountant should be enclosed in proof of their creditworthiness and turnover for last three years.
(e) Name(s) and address(es) of the Bankers and their present contact executives Written Information about the names and addresses of their bankers along with full details, like names, postal addresses, e-mail IDs, telephone (landline and mobile) nos., fax nos., etc. of the contact executives (i.e. the persons who can be contacted at the office of their bankers by the Bank, in case it is so needed) should be furnished.
(f) Details of bank accounts Full particulars of their bank accounts, like account no. type, when opened etc., should be given.
(g) Name(s) and address(es) of the Clients and their present contact executives Written information about the names and addresses of their clients along with full details, like names, postal addresses, e-mail IDs, telephone (landline and mobile) nos., fax nos. etc., of the contact executives (i.e. the persons who can be contacted at the office of their clients by the Bank in case it is so needed) should be furnished.
(h) Details of completed works (Annex 8) The client-wise names of work(s), year(s) of execution of work (s), awarded and actual cost (s) of executed work (s), completion time stipulated in the contract (s) and actual time taken to complete the work (s), Name(s) and full contact-details of the officers/authorities/departments under whom the work(s) was/were executed should be furnished.
(i) Details of Service setup Full fledged service setup should be available for the specified job either at Mumbai or at nearby city/place wherefrom required quality after sales services can be regularly provided.
(j) Details of registration and copies of registration certificate/ documents for PAN
GST
Office of Labour Commissioner, if applicable

6. In the event of intending bidder’s failure to satisfy the Bank; the Bank reserves the right to not allow him to participate in tendering process.

7. A pre-bid meeting (off-line mode) of the intending bidders will be held on October 01, 2021 at 11.00 AM at Estate Office, BKC, Reserve Bank of India, Mumbai. The duly filled in tender documents shall be uploaded on MSTC site till 2.00 PM on October 11, 2021. No further clarifications/queries will be entertained after the pre-bid meeting.

8. (a) Tender forms can be downloaded for viewing from the website www.mstcecommerce.com w.e.f. August 26, 2021 from 5.00 PM.

(b) EMD of ₹ 1,20,000/- (Rupees One Lakh Twenty Thousand only) in the form of DD, NEFT or Bank Guarantee issued by a scheduled Bank should be submitted on or before 2.00PM on October 11, 2021.

(c) Tenderers shall submit all the information and the documents as mentioned in the tender.

After examination, if any of the bidder is not found to possess the required eligibility, their tenders will not be accepted by the Bank for further processing.

9. Part I of the tenders will be opened on-line at 3.30 PM on October 12, 2021 in the presence of the authorized representative of the bidders who choose to be present. Part-II (Price bid) shall be opened of the eligible bidders on a subsequent date which will be intimated to the eligible bidders in advance.

10. The applicants/tenderers have to upload

  1. Client’s certificate as per format given in the tender from their clients for whom they have carried out “eligible works” in terms of the eligibility (Pre-qualification) criteria explained in this notice.

  2. Banker’s certificate as per format given in the tender from their banker/bankers.

The client’s certificate shall be accepted only when the same is signed by an official of the rank of Executive engineer/Superintendent Engineer or equivalent in respect of a Government/Semi Government organization or a PSU and only when they are supported by adequate proof of payment received by the contractor for the work done by him. The client’s certificate issued by the private organizations shall also accompany Tax Deducted at Source (TDS) certificates. Applications/tenders uploaded without the above certificates may be rejected. The Bank shall have the right to independently verify these certificates.

The Bank shall evaluate the said reports before processing the tenders and opening of price bid of the tenders. If any bidder is not found to possess the required eligibility for participating in the tendering process at any point of time and/or his performance reports received from his clients and/or his bankers are found unsatisfactory, the Bank reserves the right to reject his offer even after opening of Part-I of the tender. The Bank is not bound to assign any reason for doing so.

11. Any amendments / corrigendum to the tender, if any, issued in future will only be notified on the RBI Website and MSTC Website as given above.

12. The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender. The Bank also reserves the right to reject all the tenders without assigning any reason there for.

Regional Director

Mumbai :
Date :


Schedule of Tender (SOT)

Name of Work: Design, Supply, Installation, Testing and Commissioning (DSITC) of Grid Interactive SPV based 104 KWp Solar Power Plant (SPP) for RBI at Byculla Office Building, RBI Officers Quarters at BKC, RBI Officers Quarters at Kailash, Malad (East), RBI Staff Quarters at Bhandup and RBI Staff Quarters at Chembur in Mumbai
a. E-Tender NO RBI/Mumbai/Estate/79/21-22/ET/108
b. Mode Of Tender e-Procurement System
(Online Part I – Techno-Commercial Bid and
Part II – Price Bid through www.mstcecommerce.com/eprochome/rbi
c. Estimated cost of work ₹ 60 Lakhs (Rupees Sixty lakhs only)
d. Date of NIT available to parties to download
(View Tender Time)
August 26, 2021 from 05:00 PM onwards
e. Date of Starting of e-Tender for submission of on line Techno-Commercial Bid and price Bid (Start Bid Date and Time) www.mstcecommerce.com/eprochome/rbi August 26, 2021 from 05:00 PM onwards
f. last date of submission of Pre-qualification documents September 16, 2021 till 05.00 PM
g. Schedule of Off line pre-bid meeting of eligible bidders only. October 01, 2021 at 11.00 AM at Estate Office, BKC, Reserve Bank of India, Mumbai
h. Date of closing of online e-tender for submission of Techno-Commercial Bid & Price Bid (Close Bid Date and Time) October 11, 2021 till 2.00 PM
i. Date & time of opening of Part-I (i.e. Techno-Commercial Bid) October 12, 2021 from 3.30 PM onwards
j. Date and Time of Opening of Part II (Price Bid) Shall be intimated to the eligible bidders subsequently
k. Earnest Money Deposit (EMD) ₹ 1,20,000/- (Rupees One Lakh Twenty Thousand only) by NEFT, in the form of DD or Bank Guarantee from scheduled bank on or before 2:00 PM on October 11, 2021.

The DD shall be submitted in sealed cover addressed by name to Shri Ajay Michyari, Regional Director, Bandra Kurla Complex, Reserve Bank of India, Mumbai -400051 so as to reach Estate Office, BKC, Reserve Bank of India, Mumbai- 400051

NEFT Details
A/c No – 04861436223
IFSC CODE – RBIS0MBPA04
(5th & second from last digit are zero)

l. Last date of submission of EMD 1,20,000/- (Rupees One Lakh Twenty Thousand only) October 11, 2021 till 2.00 PM
m. Transaction Fees
(To be paid in consultation with MSTC preferably one day prior to the final date of submission)
Rs. 3000/- plus GST @18%
To be paid through MSTC payment Gateway/ NEFT/RTGS in favour Of MSTC Ltd.

Regional Director

Mumbai :
Date :

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PSBs to make additional provision of over ₹21,300 cr for higher family pension, NPS

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Public sector banks will have to make an additional provision of over ₹21,300 crore annually on account of revision of norms to calculate family pension and higher contribution toward National Pension System (NPS).

“Keeping in view the requirements of the Accounting Standard (AS15R) issued by the Chartered Accountants of India and also as per the Companies Accounting Rules (2006), the incremental provision towards the Family pension as per the actuarial estimate is ₹20,302.9 crore,” a note prepared for the proposal, seen by BusinessLine, said.

The note also mentioned that special dispensation will be sought from the Reserve Bank of India (RBI) to allow provisions over next five years to avoid any immediate adverse impact on the balance sheets of the banks.

On Wednesday, Financial Services Secretary Debashish Panda said the government has approved the Indian Banks’ Association’s (IBA) proposal to increase the family pension to 30 per cent of last salary drawn. In continuation of the 11th bi-partite settlement on wage revision of public sector bank employees, which was signed by the IBA with the unions on November 11 last year, there was a proposal for enhancement of family pension and also the employers’ contribution under the NPS.

According to Panda, the scheme, earlier, had slabs of 15, 20 and 30 per cent of the pay that a pensioner drew at that point of time. It was capped subject to a maximum of ₹9,284. “That was a very paltry sum and Finance Minister Nirmala Sitharaman was concerned and wanted that to be revised so that family members of bank employees get a decent amount to survive and sustain,” he said.

As on March 31, the total number of pensioners stood at around 5.66 lakh and family pensioners at over 1.55 lakh.

 

National Pension System

The system prescribes contributory pension system where originally it was decided that employees will contribute 10 per cent of their basic plus dearness allowance while a matching amount will be provided by the government employer. On December 10, 2018, it was decided that for a Central government employee, the mandatory contribution by the employer would be raised to 14 per cent from April 1, 2019. The same mechanism will now be valid for employees of public sector banks.

“Based on the feedbacks received from the banks, the additional cost on account of increased contribution will be of the order of ₹1,080 crore per annum for all the PSBs,” the note mentioned above said. This will have an impact on nearly 60 per cent (around 4.68 lakh) bank employees out of a total strength of over 7.79 lakh.

Higher payout by the employer would translate into an increase in the accumulated corpus of employees covered under NPS. This will result in greater pension payouts after retirement without any additional burden on the employee. As on date, an employee can withdraw 60 per cent of total corpus for which she/he does not have to pay any tax, while the remaining 40 per cent of the amount utilised for purchasing an annuity from the Annuity Service Provider, registered and regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and empanelled by the Pension Fund Regulatory and Development Authority (PFRDA), is also tax exempt.

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Reserve Bank of India – Press Releases

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I. SUMMARY – PURCHASE RESULTS

Aggregate Amount (Face Value) notified by RBI : ₹25,000 crore
Total amount offered (Face Value) by participants : ₹72,822 crore
Total amount accepted (Face Value) by RBI : ₹25,000 crore

II. DETAILS OF PURCHASE ISSUE

Security 7.59% GS 2026 8.28% GS 2027 7.59% GS 2029 7.88% GS 2030 6.64% GS 2035
No. of offers received 76 52 89 82 267
Total amount (face value) offered (₹ in crore) 8,762 4,686 12,739 8,614 38,021
No. of offers accepted 20 14 39 29 50
Total offer amount (face value) accepted by RBI (₹ in crore) 4,496 2,105 7,622 4,376 6,401
Cut off yield (%) 5.6935 6.0700 6.3421 6.4527 6.8192
Cut off price (₹) 107.24 111.07 107.40 109.27 98.40
Weighted average yield (%) 5.7336 6.0888 6.3856 6.4629 6.8215
Weighted average price (₹) 107.08 110.97 107.13 109.20 98.38
Partial allotment % of competitive offers at cut off price NA NA NA NA 64.26

Ajit Prasad
Director   

Press Release: 2021-2022/750

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Reserve Bank of India – Press Releases

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The Reserve Bank of India will conduct a Variable Rate Reverse Repo auction on August 27, 2021, Friday, as under:

Sl. No. Notified Amount
(₹ crore)
Tenor
(day)
Window Timing Date of Reversal
1 3,00,000 13
(September 10, 2021 being a holiday)
10:30 AM to 11:00 AM September 09, 2021
(Thursday)

2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/749

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Reserve Bank of India – Press Releases

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Security 7.59% GS 2026 8.28% GS 2027 7.59% GS 2029 7.88% GS 2030 6.64% GS 2035
Total amount notified (₹ in crore) Aggregate amount of ₹25,000 crore
(no security-wise notified amount)
Total amount (face value) accepted by RBI (₹ in crore) 4,496 2,105 7,622 4,376 6,401
Cut off yield (%) 5.6935 6.0700 6.3421 6.4527 6.8192
Cut off price (₹) 107.24 111.07 107.40 109.27 98.40

Detailed results will be issued shortly.

Ajit Prasad
Director   

Press Release: 2021-2022/748

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Reserve Bank of India – Tenders

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1. Reserve Bank of India invites competitive e-tenders/ e-bids for Reserve Bank of India invites competitive e-tenders/ e-bids for Supply, Installation, Testing and Commissioning (SITC) of 120 Nos. Sealed Maintenance Free (SMF), Valve regulated Lead Acid batteries (12 V, 150 AH) having Fire retardant casing at Bank’s Office Building at Bandra Kurla Complex in Mumbai from eligible bidders as per the specified pre-qualification criteria. The work is estimated to cost of ₹16 Lakhs and the contract duration shall be 12 weeks from the 14th day of work order.

2. The Earnest Money Deposit (EMD) shall be submitted in the form of Demand Draft or NEFT. The Demand Draft shall be submitted in sealed cover addressed by name to Shri Ajay Michyari, Regional Director, Reserve Bank of India, Bandra Kurla Complex, Mumbai – 400051 so as to reach Estate Office, Bandra Kurla Complex, Reserve Bank of India, Mumbai – 400051 up to 2.00 PM on October 11, 2021 superscribed as “EMD Supply, Installation, Testing and Commissioning (SITC) of 120 Nos. Sealed Maintenance Free (SMF), Valve regulated Lead Acid batteries (12 V, 150 AH) having Fire retardant casing at Bank’s Office Building at Bandra Kurla Complex in Mumbai. Online tenders will be available for viewing /downloading by all firms till 02:00 PM on October 11, 2021.

3. All the Pre-Qualification papers shall be submitted by hard copy or e-mail on or before September 16, 2021 till 05.00 PM. The same shall be examined by the Bank and the eligible participants shall be intimated accordingly.

4. The firms which do not comply with the following pre-qualification criteria and/or do not submit EMD will not be considered for opening of their tender Part-II (Price Bid):

a) Only OEM or its Authorized dealer with valid Authorization certificate having minimum 5 years of experience in the field of undertaking similar work viz. Supply, Installation, Testing and Commissioning (SITC) of Sealed Maintenance Free (SMF), Valve regulated Lead Acid batteries having Fire retardant casing. The similar work should have been completed on or before March 31, 2016.

b) The intending bidder must have executed successfully “Supply, Installation, Testing and Commissioning (SITC) of Sealed Maintenance Free (SMF), Valve regulated Lead Acid batteries (having Fire retardant casing” during last five years ending on March 31, 2021 as under:

(a) Three works each costing not less than 40% of Rs. 16 Lakh

OR

(b) Two works each costing not less than 50% of Rs. 16 Lakh

OR

(c) One work costing not less than 80% of Rs. 16 Lakh

c) Minimum yearly turnover of 100% of the estimated cost during last 3 financial years ending March 31, 2021, supported by audited financial statements.

d) Should furnish solvency certificate issued by applicant’s Banker for the estimated cost of work.

5. In addition to above, intending bidders shall also submit following details and supporting documents along with PQ papers for Bank’s examination:

(a) Composition of the firm Full particulars (whether contractor is an individual, or a partnership firm, or a company etc.,) of the composition of the firm of contractors in details should be submitted along with name(s) and address(es), of the partner’s copy of the Articles of Association/ Power of Attorney/other relevant document.
(b) Work experience & Completion of similar works of specified value during the specified period Copies of the detailed work orders indicating date of award, value of awarded work, time given for completing the work etc. and the corresponding completion certificates indicating actual date of completion and actual value of executed similar works should be enclosed in proof of the work experience. The details along with documentary evidence of previous experience, if any, of carrying out works for the Reserve Bank of India at any Centre, should also be given.
(c) Turnover Audited financial statements for last three financial years i.e. 2018-19, 2019-20 and 2020-21 along with a certificate of Chartered Accountant indicating the turnover for these financial years.
(d) Credit worthiness of the contractor and their turnover during the specified period Copies of the Income Tax Clearance Certificates/Income Tax Assessment Orders along with the latest final accounts of the business of the contractor duly certified by a Chartered Accountant should be enclosed in proof of their creditworthiness and turnover for last three years.
(e) Name(s) and address(es) of the Bankers and their present contact executives Written Information about the names and addresses of their bankers along with full details, like names, postal addresses, e-mail IDs, telephone (landline and mobile) nos., fax nos., etc. of the contact executives (i.e. the persons who can be contacted at the office of their bankers by the Bank, in case it is so needed) should be furnished.
(f) Details of bank accounts Full particulars of their bank accounts, like account no. type, when opened etc., should be given.
(g) Name(s) and address(es) of the Clients and their present contact executives Written information about the names and addresses of their clients along with full details, like names, postal addresses, e-mail IDs, telephone (landline and mobile) nos., fax nos. etc., of the contact executives (i.e. the persons who can be contacted at the office of their clients by the Bank in case it is so needed) should be furnished.
(h) Details of completed works (Annex D) The client-wise names of work(s), year(s) of execution of work (s), awarded and actual cost (s) of executed work (s), completion time stipulated in the contract (s) and actual time taken to complete the work (s), Name(s) and full contact-details of the officers/authorities/departments under whom the work(s) was/were executed should be furnished.
(i) Details of Service setup Full fledged service setup should be available for the specified job either at Mumbai or at nearby city/place wherefrom required quality after sales services can be regularly provided.
(j) Details of registration and copies of registration certificate/ documents for PAN
GST
Office of Labour Commissioner, if applicable

6. In the event of intending bidder’s failure to satisfy the Bank; the Bank reserves the right to not allow him to participate in tendering process.

7. A pre-bid meeting (off-line mode) of the intending bidders will be held on October 01, 2021 at 03.00 PM at Estate Office, BKC, Reserve Bank of India, Mumbai. The duly filled in tender documents shall be uploaded on MSTC site till 2.00 PM on October 11, 2021. No further clarifications/queries will be entertained after the pre-bid meeting.

8. (a) Tender forms can be downloaded for viewing from the website www.mstcecommerce.com w.e.f. August 26, 2021 from 05.00 PM.

(b) EMD of ₹ 32,000/- (Rupees Thirty Two Thousand only) in the form of NEFT or DD issued by a scheduled Bank should be submitted on or before 2.00 PM on October 11, 2021.

(c) Tenderers shall submit all the information and the documents as mentioned in the tender.

After examination, if any of the bidder is not found to possess the required eligibility, their tenders will not be accepted by the Bank for further processing.

9. Part I of the tenders will be opened on-line at 3.30 PM on October 12, 2021 in the presence of the authorized representative of the bidders who choose to be present. Part-II (Price bid) shall be opened of the eligible bidders on a subsequent date which will be intimated to the eligible bidders in advance.

10. The applicants/tenderers have to upload

  1. Client’s certificate as per format given in the tender from their clients for whom they have carried out “eligible works” in terms of the eligibility (Pre-qualification) criteria explained in this notice.

  2. Banker’s certificate as per format given in the tender from their banker/bankers.

The client’s certificate shall be accepted only when the same is signed by an official of the rank of Executive engineer/Superintendent Engineer or equivalent in respect of a Government/Semi Government organization or a PSU and only when they are supported by adequate proof of payment received by the contractor for the work done by him. The client’s certificate issued by the private organizations shall also accompany Tax Deducted at Source (TDS) certificates. Applications/tenders uploaded without the above certificates may be rejected. The Bank shall have the right to independently verify these certificates.

The Bank shall evaluate the said reports before processing the tenders and opening of price bid of the tenders. If any bidder is not found to possess the required eligibility for participating in the tendering process at any point of time and/or his performance reports received from his clients and/or his bankers are found unsatisfactory, the Bank reserves the right to reject his offer even after opening of Part-I of the tender. The Bank is not bound to assign any reason for doing so.

11. Any amendments / corrigendum to the tender, if any, issued in future will only be notified on the RBI Website and MSTC Website as given above.

12. The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender. The Bank also reserves the right to reject all the tenders without assigning any reason there for.

Regional Director

Mumbai :
Date :


Schedule of Tender (SOT)

Name of Work: Supply, Installation, Testing and Commissioning (SITC) of 120 Nos. Sealed Maintenance Free (SMF), Valve regulated Lead Acid batteries (12 V, 150 AH) having Fire retardant casing at Bank’s Office Building at Bandra Kurla Complex in Mumbai
a. E-Tender NO RBI/Mumbai/Estate/78/21-22/ET/107
b. Mode Of Tender e-Procurement System
(Online Part I – Techno-Commercial Bid and Part II – Price Bid through www.mstcecommerce.com/eprochome/rbi
c. Estimated cost of work ₹ 16 Lakhs (Rupees Sixteen lakhs only)
d. Date of NIT available to parties to download (View Tender Time) August 26, 2021 from 05:00 PM onwards
e. Date of Starting of e-Tender for submission of on line Techno-Commercial Bid and price Bid (Start Bid Date and Time) www.mstcecommerce.com/eprochome/rbi August 26, 2021 from 05:00 PM onwards
f. last date of submission of Pre-qualification documents September 16, 2021 till 05.00 PM
g. Schedule of Off line pre-bid meeting of eligible bidders only. October 01, 2021 at 03.00 PM at Estate Office, BKC, Reserve Bank of India, Mumbai
h. Date of closing of online e-tender for submission of Techno-Commercial Bid & Price Bid (Close Bid Date and Time) October 11, 2021 till 2.00 PM
i. Date & time of opening of Part-I (i.e. Techno-Commercial Bid) October 12, 2021 from 3.30 PM onwards
j. Date and Time of Opening of Part II (Price Bid) Shall be intimated to the eligible bidders subsequently
k. Earnest Money Deposit (EMD) ₹ 32,000/- (Rupees Thirty Two Thousand only) by NEFT or in the form of DD on or before 2:00 PM on October 11, 2021.

The DD shall be submitted in sealed cover addressed by name to Shri Ajay Michyari, Regional Director, Bandra Kurla Complex, Reserve Bank of India, Mumbai -400051 so as to reach Estate Office, BKC, Reserve Bank of India, Mumbai- 400051

NEFT Details
A/c No – 04861436223
IFSC CODE – RBIS0MBPA04
(5th & second from last digit are zero)

l. Last date of submission of EMD 32,000/- (Rupees Thirty Two Thousand only) October 11, 2021 till 2.00 PM
m. Transaction Fees
(To be paid in consultation with MSTC preferably one day prior to the final date of submission)
Rs. 1000/- plus GST @18%
To be paid through MSTC payment Gateway/ NEFT/RTGS in favour of MSTC Ltd.

Regional Director

Mumbai :
Date :

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Three MDs and ten EDs of various PSU banks get term extensions

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The Appointments Committee of the Cabinet (ACC) gave its nod for the extension of terms of three serving Managing Director and CEOs and ten Executive Directors in various public sector banks.

The three MD and CEOs who got tenure extensions include Ch SS Mallikarjuna Rao of Punjab National Bank, Atul Kumar Goel of UCO Bank and AS Rajeev of Bank of Maharashtra.

While Mallikarjuna Rao’s term has been extended till January 31 next year, the term of office of Anil Kumar Goel has been extended for two years till November 1, 2023. A S Rajeev’s tenure has been extended by two years till December 1, 2023.

The EDs who received extension for two years beyond their currently notified term expiry date are Ajay Khurana (Bank of Baroda), A Manimekhalai (Canara Bank) and PR Rajagopal (Bank of India).

The other seven EDs whose term have been extended till the date of their superannuation are Sanjay Kumar (Punjab National Bank), Gopal Singh Gussain (Union Bank of India), Vikramaditya Singh Khichi (Bank of Baroda), Shenoy Vishwanath Vittal (Indian Bank), Vijay Dube (Punjab National Bank), Alok Srivastava (Central Bank of India) and Manas Ranjan Biswal (Union Bank of India ), according to an executive order issued by the Department of Personnel and Training.

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‘CFOs should keep eye on long-term strategy, adapt to short-term situations’, BFSI News, ET BFSI

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CFOs have to play a major role during the pandemic in their organisations and be ready from the technology and business perspectives.

All eyes are on the P&L projections and the growth expectations from the businesses. With various factors that have come out of the pandemic, I would imagine that CFOs are at the centre with all the strategies that organizations are playing right now, Sudeep Bhatia, Group CFO, Lendingkart, said at the panel discussion CFOs’ View: Building Pandemic-Proof Balance Sheet at ETBFSI Summit.

'CFOs should keep eye on long-term strategy, adapt to short-term situations'

“For CFOs, the major focus has moved more towards a strategist, acting as a catalyst. How you can adapt to every day. Making sure you are ready from a technology and business perspective,” Upma Goel, CFO, Ujjivan Small Finance Bank, said.

'CFOs should keep eye on long-term strategy, adapt to short-term situations'

Adapting to new normal

Niraj Shah, CFO, HDFC Life said in these times, flexibility and agility is something that comes to the fore, and that’s something that a CFO needs to prepare the organization for.

Investing ahead of the time, and being agile, to try and adapt to the changing customer preferences because of the changing environment, he said.

'CFOs should keep eye on long-term strategy, adapt to short-term situations'

The RBI and GOI have taken multiple steps and interventions with every step, and, therefore, all the financial institutions, and all other organizations as well, had to adapt to the situations very fast, Bhatia of Lendingkart said.

Every business will be affected in a different way. Given the situation, and we adjust to that, but just in principle it’s about keeping sights on your long-term strategy, at the same time, adapting, to the short-term situations, Shah said.

Emphasising the need to have a fine balance to make effective use of the liquid cash, Goel of Ujjivan SFB said, “We cannot afford at this point of time not to have the liquidity and wait for the real demand. Demand has started picking up”

The challenges

The Covid pandemic has been the most serious challenge to financial institutions in nearly a century and CFOs need to maintain our distribution and recovery channels open, despite the social distancing advice by the supervisory and compliance function, said G S Agarwal, CFO, Shriram Housing Finance.

'CFOs should keep eye on long-term strategy, adapt to short-term situations'

‘The struggle to manage between these things and keep your balance sheet and P&L intact has been the biggest challenge. Also, to do the compliances remotely sitting remotely without any paperwork, without any physical signatures has been quite challenging, he said.

Customer requests and expectations have grown multifold. “I haven’t seen this kind of customer engagement before even from the existing customer base. This is because they need support from the organization as well,” Bhatia of Lendingkart said.



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RBI appoints Ajay Kumar as ED

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The Reserve Bank of India (RBI) has appointed Ajay Kumar as Executive Director (ED) with effect from August 20.

Prior to being promoted as ED, Kumar was heading RBI’s New Delhi Regional Office as Regional Director.

As ED, he will look after Department of Currency Management, Foreign Exchange Department and Premises Department. The RBI now has 13 EDs.

Kumar has, over a span of three decades, served in foreign exchange, banking supervision, financial inclusion, currency management and other areas in the Reserve Bank.

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LnD Pool launches certificate programme in banking and insurance

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LnD Pool, a Kochi-based startup, has launched a unique certificate programme — The Certificate in Bancassurance Channel Management — to address the skill gap in the Banking, Financial Services and Insurance (BFSI) sector.

The certificate programme is offered in association with BFSI Sector Skill Council of India. BFSI Sector Skill Council of India (BFSI SSC) is the assessing and certifying body under the National Skill Development Corporation (NSDC) and Ministry of Skill Development & Entrepreneurship (MSDE).

The program is open to young working professional, fresh graduate/ PG or final year student who are interested in banking and insurance careers. The pedagogy is relevant to professionals working in both BFSI as well as other sectors viz. FMCG/FMCD/ automobile /pharma/ paint etc. who are looking for career opportunities in BFSI sectors in India and abroad. The job roles open in banks, insurance, broking and other financial services companies include Relationship Managers, Front line Sales Managers, Area Managers, Territory managers etc.

Besides upskilling existing professionals working in the BFSI sector, the course prepares fresh pass outs as well as students to be industry ready and also offer placement assistance.

Started out earlier this year in Jan 2021 as an online platform, LnD Pool is engaged in connecting trainers/ speakers/resource persons with BFSI organizations and educational institutions. Currently, more than 130+ subject matter experts/resource persons have signed up on its platform as Members.

The admission for the Certificate in Bancassurance Channel Management is open with an easy, online enrolment process. For further details visit the link https://Lndpool.com/bancassurance-channel-management/

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