Announcement of Shortlisted Applicants The Department of Supervision, Reserve Bank of India, Central Office, Mumbai had invited Expression of Interest (EOI) on September 03, 2025 from eligible firms of repute for engagement as consultant for: -
Framework for assessment of Business Model of Supervised Entities, -
Migration of select Urban Cooperative Banks and Non-Banking Financial Companies to Risk Based Supervision – Development of Risk Based Supervisory Framework and -
Development of Comprehensive Supervisory Manuals 2. In this context, it is notified that certain clauses of the EOI document have been modified as under: | Chapter & Para No. of EOI Document | Existing Clause | Modified Clause | | Para 6 (iv) - Eligibility Criteria - Number of minimum works of similar nature executed | A. Framework for assessment of Business Model of Supervised Entities and Migration of select UCBs and NBFCs to RBS
Minimum value of one Consultancy project on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹5.50 crore during the last five (5) years. (or)
Minimum value of two Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹3.70 crore during the last five (5) years. (or)
Minimum value of three Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹2 crore during the last five (5) years.
NOTE:
Of the above, experience in at least one Consultancy project in the particular area being applied for separately during the last five (5) years on similar nature of work mentioned at Para 6 (ii) (B) above, is mandatory.
B. Development of Comprehensive Supervisory Manuals
Minimum value of one Consultancy project on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹5.50 crore during the last ten (10) years. (or)
Minimum value of two Consultancy projects on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹3.70 crore during the last ten (10) years. (or)
Minimum value of three Consultancy projects on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹2 crore during the last ten (10) years.
NOTE:
Of the above, experience in at least one Consultancy project in the particular area being applied for separately during the last ten (10) years on similar nature of work mentioned at Para 6 (ii) (C) above, is mandatory. | A. Framework for assessment of Business Model of Supervised Entities and Migration of select UCBs and NBFCs to RBS
Minimum value of one Consultancy project on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹2.6 crore during the last five (5) years. (or)
Minimum value of two Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹1.7 crore during the last five (5) years. (or)
Minimum value of three Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹1.3 crore during the last five (5) years.
NOTE:
Of the above, experience in at least one Consultancy project in the particular area being applied for separately during the last five (5) years on similar nature of work mentioned at Para 6 (ii) (B) above, is mandatory.
B. Development of Comprehensive Supervisory Manuals
Minimum value of one Consultancy project on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹2.6 crore during the last ten (10) years. (or)
Minimum value of two Consultancy projects on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹1.7 crore during the last ten (10) years. (or)
Minimum value of three Consultancy projects on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹1.3 crore during the last ten (10) years.
NOTE:
Of the above, experience in at least one Consultancy project in the particular area being applied for separately during the last ten (10) years on similar nature of work mentioned at Para 6 (ii) (C) above, is mandatory. | | Para 6 (v) - Eligibility Criteria - Minimum value of each completed work (qualifying) | (i) Projects shown under Work Experience, in India or abroad, should have had minimum project value of ₹2 crore, where each area listed above is shown under different projects. | (i) Projects shown under Work Experience, in India or abroad, should have had minimum project value of ₹1.3 crore, where each area listed above is shown under different projects. | Annex II
Evaluation Matrix - Framework for assessment of Business Model of Supervised Entities - Past Experience in Domain Areas during the last 5 years | Criteria for experience
Scenario A - Minimum value of one Consultancy project on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹5.50 crore during the last five (5) years. (or)
Scenario B - Minimum value of two Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹3.70 crore during the last five (5) years. (or)
Scenario C - Minimum value of three Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹2 crore during the last five (5) years.
| Criteria for experience
Scenario A - Minimum value of one Consultancy project on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹2.6 crore during the last five (5) years. (or)
Scenario B - Minimum value of two Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹1.7 crore during the last five (5) years. (or)
Scenario C - Minimum value of three Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹1.3 crore during the last five (5) years. | Annex II
Evaluation Matrix - Migration of select Urban Cooperative Banks and Non-Banking Financial Companies to Risk Based Supervision – Development of Risk Based Supervisory Framework - Past Experience in Domain Areas during the last 5 years | Criteria for experience
Scenario A - Minimum value of one Consultancy project on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹5.50 crore during the last five (5) years. (or)
Scenario B - Minimum value of two Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹3.70 crore during the last five (5) years. (or)
Scenario C - Minimum value of three Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹2 crore during the last five (5) years.
| Criteria for experience
Scenario A - Minimum value of one Consultancy project on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹2.6 crore during the last five (5) years. (or)
Scenario B - Minimum value of two Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹1.7 crore during the last five (5) years. (or)
Scenario C - Minimum value of three Consultancy projects on similar nature of work mentioned at Para 6 (ii) (B) above, individually costing not less than ₹1.3 crore during the last five (5) years. | Annex II
Evaluation Matrix - Development of Comprehensive Supervisory Manuals - Past Experience in Domain Areas during the last 10 years | Criteria for experience
Scenario A - Minimum value of one Consultancy project on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹5.50 crore during the last ten (10) years. (or)
Scenario B - Minimum value of two Consultancy projects on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹3.70 crore during the last ten (10) years. (or)
Scenario C - Minimum value of three Consultancy projects on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹2 crore during the last ten (10) years. | Criteria for experience
Scenario A - Minimum value of one Consultancy project on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹2.6 crore during the last ten (10) years. (or)
Scenario B - Minimum value of two Consultancy projects on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹1.7 crore during the last ten (10) years. (or)
Scenario C - Minimum value of three Consultancy projects on similar nature of work mentioned at Para 6 (ii) (C) above, individually costing not less than ₹1.3 crore during the last ten (10) years. | 3. The minutes of the pre-bid meeting held on September 18, 2025 are enclosed at Annex ‘A’. 4. The clarifications to the representations/ queries raised are enclosed as Annex ‘B’. The Corrigendum and the clarifications shall be treated as part of the EOI document issued on September 03, 2025. Chief General Manager-in-Charge
Department of Supervision, Central Office, Mumbai
Annex A Minutes of the Pre-Bid meeting – Invite for Expression of Interest (EOI) for procurement of Consultancy services, Mumbai The Department of Supervision, Reserve Bank of India, Central Office, Mumbai issued invite for Expression of Interest (EOI) on September 3, 2025 from eligible firms of repute for engagement as Consultant for: -
Framework for assessment of Business Model of Supervised Entities, -
Migration of select Urban Cooperative Banks and Non-Banking Financial Companies to Risk Based Supervision – Development of Risk Based Supervisory Framework and -
Development of Comprehensive Supervisory Manuals. 2. As per the Schedule in the EOI document, pre-bid meeting was conducted on September 18, 2025 at 1500 hours in physical mode by Department of Supervision (DOS) at Board Room, Reserve Bank of India, 18th Floor, Maker Tower, F Wing, Cuffe Parade. The meeting was attended by representatives of various entities. The list of participants is given below. | RBI Participants | | 1. | Shri T.K. Singh | CGM and Chairperson | | 2. | Shri R. Kannan | GM | | 3. | Shri R. Baladinesh | DGM | | 4. | Shri Manish Gupta | DGM | | 5. | Shri P R V Rama Karthik | AGM | | List of Prospective Applicant Entities | | 6. | Shri Yash Jayawant | KPMG Assurance and Consulting Services LLP | | 7. | Shri Gaurav Bansal | KPMG Assurance and Consulting Services LLP | | 8. | Ms. Roshni Padhye | Deloitte Touche Tohmatsu India LLP | | 9. | Shri Darshan Lodha | Deloitte Touche Tohmatsu India LLP | | 10. | Shri Pranav Panchal | Grant Thornton Bharat LLP | | 11. | Shri Rahul Zaveri | Protiviti India Member Pvt Ltd | | 12. | Shri Harshit Agarwal | Protiviti India Member Pvt Ltd | | 13. | Ms. Narmada Viswanathan | PwC Services LLP | | 14. | Shri Shrogo Jacob | PwC Services LLP | | 15. | Shri Tarun Shrivastava | Ernst & Young LLP | | 16. | Shri Jineshwer Mutha | Ernst & Young LLP | 3. The representations/ queries raised by various entities regarding terms and conditions of the EOI document were clarified / noted. The clarifications to the points raised are furnished in Annex ‘B’. Chief General Manager-in-Charge
Department of Supervision, Central Office, Mumbai |