Reserve Bank of India

Reserve Bank of India
Request For Proposal for Data

Migration Audit of Core Banking
Solution
Department of Government and
Bank Accounts
Core Banking Division
June 2011
This document contains 56 pages
This document is the property of Reserve Bank of India (RBI). It may not be copied, distributed or recorded on any medium, electronic or otherwise,
without the RBIs written permission therefore. The use of the contents of this document, even by the authorized personnel / agencies for any purpose
other than the purpose specified herein, is strictly prohibited and shall amount to copyright violation and thus, shall be punishable under the Indian Law.

Request For Proposal for Data Migration Audit of Core Banking Solution
Non-Disclosure Agreement
All bidders must sign the Non-Disclosure Agreement (NDA) and submit the same with the
technical bid response of the Request for Proposal (RFP) for Data Migration Audit of Core
Banking Solution, failing which would result in rejection of the bid. Bidders must comply with
all clauses mentioned in the NDA. No changes to the NDA are allowed. The NDA must be
executed on the bidders company letterhead.
The NDA must be signed by the authorized signatory, along with requisite Power of Attorney/
Board Resolution authenticating/ authorizing the signatories of the NDA. If the Power of
Attorney/ Board Resolution is not present along with the NDA, the technical bid will be
rejected. Draft of the NDA is as under.
RFP for CBS Data Migration Audit at RBI

(Letterhead of the bidder)
Strictly Private and Confidential

Shri Vijay Chugh
Department of Government and Bank Accounts (DGBA)
3rd Floor, Amar Building, Sir P.M. Road, Fort,
Mumbai 400 001, Maharashtra, India
[Date]
[Salutation]
Confidentiality Undertaking
We acknowledge that during the course of bidding for Request For Proposal (RFP) floated for
Data Migration Audit of Core Banking Solution (CBS) across Reserve Bank of India (RBI), we
shall have access to and be entrusted with Confidential Information. In this letter, the phrase
"Confidential Information" shall mean information (whether of a commercial, technical,
scientific, operational, administrative, financial, marketing, business, or intellectual property
nature or otherwise), whether oral or written, relating to RBI and its business that is provided to
us pursuant to this Agreement.
In consideration of you making Confidential Information available to us, we agree to the terms
set out below:
1.
We shall treat all Confidential Information as strictly private and confidential and take all
steps necessary (including but not limited to those required by this Agreement) to
preserve such confidentiality.
2.
We shall use the Confidential Information solely for the preparation of our response to the
RFP and not for any other purpose.
3.
We shall not disclose any Confidential Information to any other person or firm, other than
as permitted by item 5 below.
4.
We shall not disclose or divulge any of the Confidential Information to any other client of
[data migration auditor]
5.
This Agreement shall not prohibit disclosure of Confidential Information:

-
To our partners/ directors and employees who need to know such Confidential
Information to assist with the bidding for RFP floated for data migration audit of CBS
suite being implemented across RBI;
With your prior written consent, such consent not to be unreasonably withheld
To the extent that such disclosure is required by law;
ii

To the extent that such disclosure is required by any rule or requirement of any
regulatory authority with which we are bound to comply; and
To our professional advisers for the purposes of our seeking advice. Such professional
advisors will be informed of the need to keep the information confidential.
6.
Upon your request we shall arrange delivery to you of all Confidential Information, and
copies thereof, that is in documentary or other tangible form, except:
-
For the purpose of a disclosure permitted by item 5 above; and
To the extent that we reasonably require to retain sufficient documentation that is

necessary to support any advice, reports, or opinions that we may provide.
7.
This Agreement shall not apply to Confidential Information that:

-
Is in the public domain at the time it is acquired by us;
Enters the public domain after that, otherwise than as a result of unauthorized disclosure
by us;
Is already in our possession prior to its disclosure to us; and
Is independently developed by us.
8.
This Agreement shall continue perpetually unless and to the extent that you may release it
in writing.
9.
We acknowledge that the Confidential Information will not form the basis of any contract
between you and us.
10.
We warrant that we are acting as principal in this matter and not as agent or broker for
any person, company, or firm.
11.
We acknowledge that no failure or delay by you in exercising any right, power or

privilege under this Agreement shall operate as a waiver thereof nor shall any single or
partial exercise thereof or the exercise of any other right, power, or privilege.
12.
This Agreement shall be governed by and construed in accordance with Indian law and
any dispute arising from it shall be subject to the exclusive jurisdiction of the Mumbai
courts.
Yours sincerely
Signature and Stamp of Company

[Authorized Signatory (same as signing the proposal) CBS Data Migration Auditor]
Name:
Position:
Date:
We have read this Agreement fully and confirm our agreement with its terms
iii

Contents
1.
Schedule
2.
Introduction
2.1
2.2
2.2.1
2.2.2
Background
Purpose of the document
Existing IT Set up
Core Banking Application Suite
7
10
11
12
3.
Structure of RFP
16
3.1
3.2
The Master RFP

Annexure Seeking Response for Evaluation
16
16
4.
Eligibility Criteria
18
5.
Scope of Work
22
5.1
5.2
5.3
5.4
5.5
5.5.1
5.5.2
Definitions
Introduction
Objectives of Data Migration Audit
Data Migration Audit Process
Deliverables and Timelines
Timelines
Service Levels
22
23
23
24
25
25
28
6.
Terms and Conditions
29
6.1
6.2
6.3
6.4
6.5
6.6
6.7
6.8
6.9
6.10
6.11
6.12
6.13
6.14
6.15
6.16
6.17
6.18
Broad Terms and Conditions

Application
Standards
Governing Language
Applicable Law
Notices
Contract Amendments
Use of Contract Documents and Information
Indemnification
Cancellation of Contract and Compensation
Earnest Money Deposit
Resolution of Disputes
Delays in the Bidders Performance
Liquidated Damages
Force Majeure
Ancillary Services
Audits
Prices
29
29
30
30
30
30
30
30
31
31
32
32
33
33
33
34
34
34
iv

6.19
6.20
6.21
6.21.1
6.21.2
Taxes and Duties

Non Negotiability on RFP
Payment Terms
Data Migration Audit Cost
Other Payment Terms
34
35
36
36
37
7.
Evaluation Process
38
7.1
7.2
7.3
7.4
7.4.1
7.5
7.6
7.7
Objective of Evaluation Process

Technical Bid Evaluation Process
Scoring Methodology for Past Experience and Team Competence
Scoring Methodology for Presentation
Overview
Consolidated Score in Technical Bid Evaluation
Disqualification Parameters in Technical Bid Evaluation
Commercial Bid Evaluation
38
39
39
41
41
42
42
42
8.
Two Stage Bidding Process
44
8.1
8.2
8.3
8.4
8.5
8.6
8.7
8.8
8.9
8.10
8.11
8.12
8.13
8.14
8.15
8.16
8.17
8.18
8.19
8.20
8.21
8.22
8.23
8.24
Instructions for Tender Submission

General Guidelines
Clarification on the Tender Document
Amendments to Tender Document
Language of Bids
Period of Bid Validity
Format and Signing of Bid
Correction of Errors
Acceptance or Rejection of Bid
Duration and Condition of Engagement
General Terms and Conditions
Other Terms and Conditions
Expenses incurred by successful bidder on the project
Evaluation and Comparison of Bids
Notification of Award
Authorized Signatory for signing the contract
Signing of Contract
Right to Reject Bids
Vicarious Liability
Non Payment of Professional Fees
Assignment
Non-Solicitation
No Employer-Employee Relationship
Subcontracting
44
44
45
46
46
46
46
46
46
47
47
47
49
49
49
49
49
50
50
50
50
51
51
51
9.
Proposal Response
52

1. Schedule
The following is an indicative timeframe for the overall process. RBI reserves the right to vary
this timeframe at its absolute and sole discretion and without providing any notice/intimation or
reasons thereof. Changes to the timeframe will be relayed to the affected Respondents during
the process.
Table 1-1: Time frame for the Overall Process
Activity
Scheduled Dates
Issue of RFP (soft copy)
13th June 2011
First Pre-bid Conference
24th June 2011 10:00 Hours to 13:00 Hours
Venue for First Pre-bid Conference
Conference Room No.2, 15th Floor, RBI

Central Office Building, Shahid Bhagat Singh
Road, Mumbai 400 001
Last date of receipt of RFP responses
1st July 2011 17:00 Hours
Opening of Technical Bid
1st July 2011 17:30 Hours
Declaration of Technical Result
Will be announced later
Commercial Bid Opening
Declaration of Final Result

2. Introduction
2.1
Background
2.1.1.1
The Reserve Bank of India (RBI) was established on April 1, 1935 in accordance with the
provision of the Reserve Bank of India Act, 1934.
2.1.1.2
The Reserve Bank of India, being the central bank and the monetary authority of the country,
performs certain key fiduciary functions, amongst others, such as banker to the banks, banker to
the Government (Central and State), management of Public Debt, holding the custody of
statutory reserves including foreign exchange reserves, sole authority for issue and management
of currency apart from performing regulatory and supervisory functions over the banking and
non-banking financial systems in India.
2.1.1.3
The Banking and Issue Departments function under the jurisdiction of the Regional Offices
(mostly at state capitals). Traditionally, three departments namely the Deposit Accounts
Department (DAD), the Public Accounts Department (PAD) and Public Debt Office (PDO)
conduct the banking functions, on behalf of the customers of RBI, such as Banks, Financial
Institutions (FIs), Central and State Governments etc.
2.1.1.4
DAD, PAD and PDO departments along with Estate Department and Establishment Section
form the Banking Department in a Regional Office.
2.1.1.5
The Central Accounts Section (CAS), Nagpur maintains and operates the Principal Deposits
Accounts of the Central Government and State Governments for whom RBI acts as a banker.
All day to day Government transactions effected at RBIs offices, regional offices of agency
banks are ultimately accounted for at CAS, Nagpur. CAS Nagpur also accounts for interGovernment adjustments and rectification of errors, if any.
2.1.1.6
RBI has currently 26 Regional offices (ROs)/ sub-offices. The list of regional office locations of
RBI along with the departments they house are given below:
Table 2-1: RBI office locations
S. No.
Office Location
Mumbai
Delhi
Kolkata
Chennai
Jaipur
Jammu
Kanpur
DAD
PAD
PDO
Remarks

S. No.
Office Location
Lucknow
Bhubaneswar
10
Chandigarh
11
Guwahati
12
Hyderabad
13
Ahmadabad
14
Bangalore
15
Belapur, Mumbai
16
Bhopal
17
Nagpur
18
Patna
19
Thiruvananthapuram
20
Dehradun
21
Kochi
22
Panaji
23
Raipur
24
Ranchi
25
Shimla
26
Srinagar
Total
2.1.1.7
DAD
20
PAD
PDO
Remarks
State Government Cell is

operational instead of PAD
State Government Cell is

operational instead of PAD
15
14
There are 29 Central Office (CO) Departments located at Mumbai, which carry out certain
banking transactions & internal transactions such as market operations. (Please refer Table 2-2).

These Central Office Departments maintain their own books of accounts or share a common
General Ledger with sub-books, and are also referred to as Independent Accounting Units
(IAUs).
Table 2-2: Central Office departments
S. No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
2.1.1.8
Department Name
Department of Administration and Personnel Management
Department of Economic Analysis and Policy
Department of Information Technology
Foreign Exchange Department
Internal Debt Management Department
Rajbhasha Department
Central Security Cell
Department of Banking Operations and Development
Department of Expenditure and Budgetary Control
Department of Non-Banking Supervision
Financial Markets Department
Legal Department
Rural Planning and Credit Department
Department of Communication
Department of Banking Supervision
Department of External Investments and Operations
Department of Payment and Settlement Systems
Human Resources Development Department
Monetary Policy Department
Secretarys Department
Customer Service Department
Department of Currency Management
Department of Government and Bank Accounts
Department of Statistics and Information Management
Inspection Department
Premises Department
Urban Banks Department
Reserve Bank of India Services Board
15 Banking Ombudsman Offices
All transactions, external as well as internal (inter-Office and inter-department), balances,

investments etc., are routed through and carried out in the books of accounts maintained by
respective DADs.

2.1.1.9
RBI has the sole right to issue currency notes and its responsibility is not only to put currency
into circulation or withdraw it, but also to exchange notes and coins into such other
denominations of notes and/ or coins as may be required by the public and are statutorily
required to make accounting disclosures of assets and liabilities of RBI arising out of money
circulated stylized as Issue Department (ID) Balance Sheet. Rest of the Banking functions are
accounted and disclosed under Banking Department (BD) Balance Sheet.
2.1.1.10 Consolidation of all these accounts, both Issue and Banking Departments, from various Offices
is done at RBI Central Office, the Department of Government and Bank Accounts (DGBA), in
Mumbai. Based on the consolidation of accounts, weekly accounts of Issue and Banking
Departments as well as annual balance sheet of RBI are prepared in DGBA. Reference is invited
to Chapter IX of the Annual Report of RBI (refer to Annual Report at http://www.rbi.org.in)
2.1.1.11 RBI has set up National Clearing Centres (NCC) at those locations where RBI is managing the
Clearing House. Outstation cheques are received at the NCC for clearing. Cheques received
from the members are sent to upcountry NCC for realisation through Speed Post/Courier. NCC,
besides processing of local MICR cheques, undertakes the functions of inter-city clearing,
Electronic Clearing Services (ECS), Electronic Funds Transfer (EFT) etc.
2.2
Purpose of the document

A suite of applications have already been deployed in various functional areas of RBI to handle
the banking services. These applications are disparate systems built over different hardware and
software platforms. This existing suite of applications has been serving RBI well. However,
keeping in view the current state of advancement in the banking technology, both products and
IT infrastructure, as well as future requirements, RBI has embarked on replacing the existing
applications supporting RBIs accounting function with an integrated Core Banking Solution
(CBS).
The CBS implementation would provide a cross functional and seamless integration of the
banking transactions i.e. operations in all regional office (DAD, PAD, PDO) and CAS (Nagpur)
applications as well as banking operations undertaken in select central office departments, as a
total solution paving way for a virtual banking department running on a single GL with common
database to give a single consistent and dynamic accounting view, at the same time achieving
other benefits in the process.
To achieve the above objective, RBI has appointed Polaris Software Lab Limited to implement
Intellect v10. The current systems namely IAS, CPAD, CAS, PDO-NDS are being replaced by
the CBS suite of applications which shall include the Depository system and a Security
Settlement Application.
The purpose of this document is to shortlist a bidder for auditing the data migration, performed
by the CBS Vendor, from the existing system suite to Polaris Software Lab Limited Core
Banking solution i.e. Intellect v10.
Details about the existing IT set up and the proposed Core Banking Application suite are
provided in the subsequent sections.
10

2.2.1
Existing IT Set up
2.2.1.1
The current status of existing applications, the areas in which they are deployed, technology and
database details and their linkage to the General Ledger (GL) for the purpose of final accounting
are summarized below.
2.2.1.2
Current IT applications deployed in RBI are provided in the following tables:
Table 2-3: Current IT applications deployed in RBI,
Table 2-3: Current IT applications deployed in RBI
Department
(1) 20 DAD and

DGBA
(2) 15 PADs
(3) PDOs
(4) CAS
Application
Name
Integrated
Accounting
System (IAS)
Centralized PAD
(CPAD)
PDO-NDS
(Negotiated
Dealing System)
CAS Application
Function
Banking
transactions and
Maintenance of all
books of accounts;
Weekly and annual
closing of books;
Profit and loss
statements; Income
and expenditure
statements etc;
Reconciliation of
books of accounts
and MIS reports
Transaction
processing and
accounting
package for
conduct of
Government
transactions
Acts as the
depository system
for all
Government
Securities issued;
used by PDO for
loan servicing
activities such as
interest and
redemption
payouts, transfer of
ownership,
conversion between
different types of
securities and
settlement of
primary market
auction process;
used to report OTC
trades in
G-Secs.
Comprehensive
solution for
Government
Accounting
No automatic
linkage between
inter PADs; no
linkage with DAD
at present and the
STP linkage to
IAS is under
Security and
Depository are
mapped to loan
accounts, currently
in CPAD, which is
in turn linked to
the GL.
Currently No
Linkage but there
is scope for direct
linkage with PAD,
DAD applications.
The IAS in
Mumbai RO is
tightly coupled
with RTGS.
DADs are not
interconnected.
IAS is a standalone
system catering to
the transaction
needs of local
Office.
GL Linkage
IAS DAD Mumbai

is linked to RTGS.
While IAS is
implemented in
other DADs, they
are however not
linked. Also, IAS
11

Department
(1) 20 DAD and

DGBA
(2) 15 PADs
(3) PDOs
(4) CAS
CICS /
MQ Series /
Crystal C++ /
SQL Server/ MS
Access Client
Library /
Crystal VB
Oracle D2K ;
Converted to Web
Oracle 8.1.5 being
migrated to Oracle
11g : Oracle Unix
development.
is not linked to
DGBAs GL.
The data is
exchanged using a
file based
download and
upload process.
Technology
Java Based
COBOL /
VC++/DCOM/SO
AP
Visual Basic /
Oracle
O.S.
Front End:
Windows 2000/
2008
Back End: zOS
Frontend: Red Hat Frontend:

Linux OS
Windows 2000 /
Backend: zOS
2008
Backend: zOS
UNIX Peru 264

UNIX to Linux
Database
Front End: Oracle

11g, Oracle 9i
Back End: DB2
Front End: Oracle

10g R2
Back End: DB2
Oracle 8.1.5 being

migrated to Oracle
11g
Front End: Oracle

9i / Oracle 11g
Back End: DB2
2.2.1.3
The core of the banking transactions are executed through any one or more of the applications
listed above. Applications listed in Table 2-3 will be replaced by proposed CBS application
suite. The bidder should consider the above applications for considering their data migration
audit strategy.
2.2.1.4
RBI has a well established network and a state-of-art data centre and disaster recovery centres.
IAS, CPAD, PDO-NDS applications are hosted at the RBI data centre at Khargar and have their
DR sites at Belapur and Nagpur. The CAS application is hosted at the RBI data centre at
Nagpur.
2.2.2
Core Banking Application Suite
2.2.2.1
RBI is in the process of implementing Intellect v10 Core Banking Solution and has appointed
Polaris Software Lab Limited for the same.
2.2.2.2
The proposed CBS is functioning in the existing RBI Data Centre at Khargar with its DR site at
Belapur and Nagpur (including DR Centre1).
Please note that RBI has deployed a near site as well as a far site.
12

2.2.2.3
Intellect is a comprehensive Central Bank CBS solution for the Reserve Bank of India. The
solution is based on the Services Oriented Architecture (SOA) and the solution can very easily
be extended, maintained and integrated.
2.2.2.4
The solution architecture is provided below:

Figure 2-1- Intellect Solution Architecture
2.2.2.5
Mentioned below are the highlights of the Intellect solution approach:
A multi entity, multi branch, multi currency GL that can support multiple accounting
standards (Indian GAAP and any other standard)
Built In depository module with a custodian bank interface module: The depository module
will maintain the details and balances of securities and financial instruments maintained
with RBI directly and also with a custodian bank in all forms.
The Loans module will directly use the lien facility in the depository module to use any
holdings as collaterals.
The Current Accounts / CC / OD modules of the CBS will be the Operational Accounts
module.
Term deposits, Loans and Letters of Credit Module will be part of the solution.
Public debt and government operations will be supported by the auctions module, public
debt and bonds module and government balances management module.
The portal services module will provide full support for online auctions and all portal
services to customers.
An Automated Processing Module will carry out all events driven processing in the system.
This module has Hovering capabilities (watching for events) and will be used for automated
forward leg settlement of auctions, IDL processing, etc.
13

2.2.2.6
The Integration middleware will support multiple messaging versions, all standard
messaging standards and will integrate with all the listed external systems. The middleware
will have capabilities to handle online messages and bulk transactions.
The Integration will cover online interface for all types of clearing house operations
including NCC, ACH and normal inward and outward clearing operations with and without
Cheque Truncation. This interface will support Multi-lateral Net Settlement Batch (MNSB)
postings into the CBS for posting net debits and net credits into the accounts of member
banks participating in clearing.
An agency banking module in the solution architecture will provide all the functionality
needed for RBI to provide agency banking services to government, government departments
or to any of the member banks.
The audit trail module will provide data log (pre image and post image data values for all
operations), operations log (foot prints of every user for system usage) and message log for
all messages and data received / sent from and to an external system.
The back volume plug-in module provides online data fetching mechanism from a data
warehouse.
The Solution will be implemented on a 24 X 7 availability basis with no down time, even
during end of day processing.
Mentioned below is the list of modules that cover the Core Banking Solution requirements laid
by the bank
Table 2-4 Intellect Modules
Features of Intellect
Access control Module
PAD Operations
Enterprise GL
Interfaces (refer list below)
Product Configuration and Management
Limited RTGS Functionality
Customer Information Management
Delivery Channel Banking Portal
Account Management
Online Tax Collection
Demand Loans
IVR
Cash Issuance and Operations
Reporting Requirements (MIS)
Clearing Operations including MNSB
Security Management and Depository
Issue of Instruments
CBS Features for Debt
Cheque Purchase Facility
Securities Servicing Module
Remittance
Auction Module
14

2.2.2.7
2.2.2.8
Deposits for SDS
Securities Settlements
Government Business
CAS Nagpur Operations
Agency Transactions
Audit trail Module
Intellect implementation RBI would result in following existing systems being phased out:
IAS Application at DADs
IAS with RTGS tightly coupled at Mumbai RO
IAS at DGBA
DBMS based custom built packages (at 4 IAUs)
CAS Application
PAD applications and CPAD application
PDO NDS Managing the Public Debt Operations
Mentioned below is the list of systems that will interface with the CBS:
RTGS Participant Interface
RTGS CBS Interface
ICCOMS : Currency Chest Management
IES : Establishment and Salary Management
MNSB files clearing houses, CCIL, Foreign Exchange Settlements, NDS-OM
E-treasury
Fixed Assets Management
Cheque Truncation System
RBI Mail System
IAS / CFMS till last Regional office roll-out
IAS DGBA till last Regional office roll-out
15

3. Structure of RFP
3.1
The Master RFP
3.1.1.1
This document is the master RFP consisting of;
the overview of services to be provided by the selected Bidder;
the current technology infrastructure at RBI;
An overview of the CBS solution being implemented by Polaris Software Lab Ltd.
the eligibility criteria
the technical and commercial evaluation methodology which shall be followed to select the
successful Bidder and;
The terms and conditions to which this RFP and the Bidder responses shall be subject to.
RBI shall enter into a separate contract after selecting the bidder, which shall detail the
terms and conditions.
3.2
Annexure Seeking Response for Evaluation
3.2.1.1
A detailed set of annexure is provided to the bidder for formulation of responses for evaluation.
The bidder is expected to complete and submit these as a part of their technical and commercial
bids. The list of such annexure is provided below:
Table 3-1: Annexure Seeking response for Evaluation
Annexure
Reference Number
Content
Name of the File
ANX1
Data Migration Audit Tools

Methodology and Approach
ANX1_Audit_Tools_Methodology_and
_Approach.doc
ANX2
Conformity of Soft Copy
ANX2_ConformityOfSoftCopy.doc
ANX3
Confirmation of Terms and

Conditions
ANX3_ConfirmationOfTermsAndCondi
tions.doc
ANX4
Confirmation to deliver
ANX4_ConfirmationToDeliver.doc
ANX5
Confirmation of Eligibility
ANX5_ConfirmationOfEligibility.doc
ANX6
Audited Financial Statements
ANX6_AuditedFinancialStatements.doc
ANX7
Submission Checklist
ANX7_SubmissionCheckList.doc
ANX8
Technical Bid Form
ANX8_TechnicalBidForm.doc
16

ANX9_CommercialBidForm.doc
ANX9
Commercial Bid Form
ANX10
Pre-Bid Query Format
ANX10_PreBidQueryFormat.doc
ANX11
Commercial BOM
ANX11_Commercial BOM.xls
3.2.1.2
As mentioned in the table above, the bidder is expected to provide, as a part of the technical bid,
a detailed document that explains the Audit Tools, Methodology and Approach proposed by the
bidder
for
the
proposed
data
migration
audit.
Refer
to
ANX1_Audit_Tools_Methodology_and_Approach.doc
3.2.1.3
The Approach and Methodology adopted for the Implementation would be evaluated by RBI
and should at the minimum include:
1.
2.
3.
4.
Audit tool and capabilities

Data Migration Audit Methodology
Project Management Methodology and Project Plan
Sample Deliverable Format
17

4. Eligibility Criteria
4.1.1.1
The bidder must fulfil the criteria mentioned in the table below in order to bid for the CBS Data
Migration Audit tender.
Primary Criteria
No.
Criteria
Criteria Parameter
The company should have past

experience in conducting similar data
migration audits
1. Past Experience in conducting

data migration audit during the
implementation of a core
banking solution (end-to-end)
project in a commercial bank /
central bank of a country
The bidder should be in the business of

data migration audit for at least five
years as on 31st March 2011
Documentary Evidence
Attested documents of MoA or similar documents
Self attested document stating the details of the company and the business line /
practice executing data migration audit and acknowledgement letters of past
credentials for the past 5 years from bidders clients
2
Company Details
All companies must have a permanent 1. The company should have a
establishment with adequate technical
presence in India for at least 5 years
staff attending to data migration audit
as on 31st March11
work in India.
2. The company must be profit making
The company should be a registered
company for the last three years and
audit firm.
its net worth should be positive
Note: All bidders must ensure that the 3. The company must have a dedicated
data migration audit team of
name of the legal entity on the technical
proposal must correspond to the name
minimum 25 personnel across India
on the financial statements
4. The company or any of its
subsidiaries / related legal entities
should have never been blacklisted /
barred (temporary or permanent) /
disqualified by any regulator /
statutory body in India or
18

Primary Criteria
No.
Criteria
Criteria Parameter
internationally
Attested copies of the Certificate of Incorporation and Financial Statements for last
three financial years: 2008-09, 2009-2010 and 2010-2011. (Please provide Audited
Financial statements in the Annexure ANX6_AuditedFinancialStatements.doc). In
case of joint bid, only the prime vendors documentary evidence will be considered.
For staff strength, attested copies indicating the breakup of staff is required.
Self attested letter for above mentioned point 4 in Criteria Parameters

The company should not have
All Core Banking Solution OEM /
participated in the bidding process (RFP
Product Vendors are debarred from
only) for the Implementation of Core
bidding for this tender
Banking Solution for RBI RFP
released by the Bank.
The company should not be connected

to any of the bidders (including Polaris
Software Lab Limited) who have
participated in the above mentioned
CBS tender by way of majority /
minority holding either ways.
The bidder and its related entities must
not be a business partner and must not
have any financial relationship
(receiving/rendering any services
from/to) with Polaris Software Lab
Limited for past three years as on 31st
March11
19

Secondary Criteria
No.
Criteria
Criteria Parameter
Past experience in conducting similar

on-site Data Migration Audits of Core
Banking solution for a commercial
bank / central bank of a country
Experience should include Data Migration Audit

from legacy applications to Core Banking
Solutions and not Data Migration Audit of
part/parts
of
a
CBS
project
Data Migration Audit for a particular module of
Core Banking Solution cannot be treated as a
valid experience
Data Migration Audit should have been
performed for an end-to-end Core Banking
Solution project and not for a module(s) of the
Core Banking Solution
The Core Banking Solution above should refer
to, but not limited to, the following modules:
1. Current Account/Saving account
2. Deposits
3. Loans
4. Trade Finance
5. Clearing
6. Internet Banking
Data Migration Audit experience in internet
banks will not be considered
Data Migration Audit Experience in cooperative
banks will not be considered
The CBS Data Migration Audit experience
quoted against the above requirements should be
that of the Bidder and not of its
affiliates/subsidiaries
Acknowledgement Letter on the customers letterhead indicating, but not limited to, the
scope of work, region coverage, number of branches, CBS product and details of modules
for which data migration audit was performed. The letter should clearly indicate
satisfactory completion of the above scope of work by the bidder. Non-submission of
acknowledgement letter(s) as specified above will result in non-evaluation of such
20

experience by the bank.

Team Competence
RBI envisages a structure headed by a project

manager supported by at least five team leaders
The bidder must propose a detailed
and professionals and/or subject matter experts
team composition for the audit of the
qualified and experienced in the areas of Data
defined scope in the RFPs Scope of
Migration Audit.
Work.
The Project Manager should have minimum 5
years of project management experience
including minimum 3 years of Data Migration
Audit experience in enterprise systems preferably
in Core Banking System.
Each Team Leader proposed should have at least
3 years of experience in leading a team including
minimum 2 years of Data Migration Audit
experience in enterprise systems preferably in
Core Banking System.
Each Team member proposed should have at

least 1 year of Data Migration Audit experience
in enterprise systems preferably in Core Banking
System.
CVs of the team proposed clearly outlining their respective areas of experience
The details of the personnel should be provided by the bidder in
The past experience details of the team proposed should be in sync with the past
experience details of company provided in response to this RFP.
21

5. Scope of Work
5.1
Definitions
5.1.1.1
Source Systems are defined as the disparate systems/IT applications deployed in various
functional areas to handle the banking services of RBI. Current list of these systems/applications
and the departments in which they are deployed are summarized below:
Table 5-1: Source Systems
S. No.
1
2
3
4
5
6
Department
DAD (20 regional offices)
DGBA
15 PADs
14 PDOs
CAS
Premises
Application Name
Integrated Accounting System (IAS)
Integrated Accounting System (IAS)
Centralized PAD (CPAD)
PDO-NDS
CAS Application
Deadstock Application
5.1.1.2
Target System is defined as the Intellect v10 Core Banking Solution (CBS) being
implemented at RBI.
5.1.1.3
Systems in scope are defined as the above mentioned Source and Target systems.
5.1.1.4
Source data is defined as the data to be migrated to the Target system from the Source
Systems or provided otherwise by the bank.
5.1.1.5
Data Migration Audit is defined as auditing the data migration from Source Systems to the
Target System, including but not limited to
Understanding and validating the data mapping provided by Polaris Software Lab Limited
Developing/Configuring automated data audit tool for auditing the migrated data
Obtaining the data from the Source Systems in the required format
Obtaining the migrated data from the Intellect v10 Core Banking Solution
Performing an audit of migrated data vis--vis source data to provide a Data Migration
Audit report highlighting errors in the data migrated to the Target System
Working with Polaris Software Lab Limited to correct data migration errors and providing
an assurance for efficiency of the data migration process and stability of the data
environment (data relationship maintenance) and, providing a Final Compliance report
and a certificate of confirmation of account balances for all accounts (funds and depository)
5.1.1.6
Bidder is defined as the vendor who performs all activities mentioned above.
5.1.1.7
Core Banking Solution or CBS for RBI shall primarily include banking modules such as
current accounts, deposits, loans; debt office modules such as depository, securities settlement
module, auction module etc.; and services like clearing, payment and settlement, consolidation
of agency transactions, remittance etc.
5.1.1.8
CBS Vendor is defined as Polaris Software Lab Limited who has been appointed by the bank
to implement the Core Banking Solution i.e. Intellect v10.
22

5.2
Introduction
5.2.1.1
Description of the envisaged scope is enumerated in the subsequent sections. However, RBI
reserves its right to change the scope of the RFP considering the size, complexity of the project,
variety of requirements and the changing business conditions being the rule setter for banking
and non-banking financial sectors. For broad reference of the purpose of the CBS Project,
kindly refer to http://rbidocs.rbi.org.in/rdocs/Tenders/PDFs/RPFCBS305409.pdf which does not
delimit the scope but explains in broad terms what is expected out of this project.
5.2.1.2
RBI has appointed Polaris Software Lab Limited for implementing the Intellect v10 Core
Banking Solution. The data migration from Source Systems to Target System is the
responsibility of the CBS Vendor. All necessary tools/ queries used for data migration will be
procured by the Polaris Software Lab Limited.
5.2.1.3
Based on the contents of the RFP, the Bidder shall be required to propose data migration audit
methodology, tools and timelines, which is suitable for RBI, after taking into consideration the
effort estimated for execution of the same and the resource and the equipment requirements.
RBI expressly stipulates the Bidders selection under this RFP is on the express understanding
that this RFP contains only the principal provisions for the entire assignment and that delivery
of the deliverables and the services in connection therewith are only a part of the assignment.
The Bidder shall be required to undertake to perform all such tasks, render requisite services and
make available all such resources as may be required for the successful completion of the entire
assignment at no additional cost to RBI notwithstanding what is stated here and what is not
stated but underlying intent.
5.2.1.4
The Bidder has to envisage all necessary services to be provided and ensure the same is
delivered to RBI.
5.2.1.5
RBI will not accept any plea of the Bidder at a later date for omission of critical services on the
pretext that the same was not explicitly mentioned in the RFP.
5.3
Objectives of Data Migration Audit

RBI has appointed Polaris Software Lab Limited to implement Intellect v10 Core Banking
Solution. RBI intends to appoint a third party auditor for auditing the data migration activity in
order, to achieve its objective of smooth transition from Source Systems to the Target System,
and to obtain a reasonable assurance for the quality of data, efficiency of data migration process
and stability of data environment.
In order to provide the required assurance, the bidder is required to consider and achieve the
below data migration audit objectives:
5.3.1.1
To provide an assurance that data requirements for the new system have been appropriately
identified and documented. In order to achieve this objective, the bidder must understand and
validate the data migration related documentation such as approved data migration plan, master
data requirements, transaction data requirements, historical data requirements (such as historical
balances) etc.
5.3.1.2
To provide an assurance that sources for data have been appropriately identified and
documented by understanding and validating information such as system source files, manual
forms (if any used), new data collected for the Target System, data mapping document etc.
23

5.3.1.3
To provide an assurance that the collection and conversion method for each data element has be
appropriately identified and documented by understanding and validating information such as
details of data conversion, data translation method etc.
5.3.1.4
To provide an assurance, that the timing and sequencing for converting data elements has been
appropriately identified and documented by understanding and validating information such as
master data conversion methodology, transactional data conversion methodology, historical data
(such as historical balances) conversion methodology etc.
5.3.1.5
To provide an assurance, that the existing source data is accurately and completely migrated by
understanding and validating migration controls such as record counts / check sums etc used for
the process and performing automated tool based audit of the migrated data vis--vis source
data.
5.4
Data Migration Audit Process
5.4.1.1
RBI has appointed Polaris Software Lab Limited to implement Intellect v10 Core Banking
Solution. The bidder is expected to go through the control specification documents, prepared by
Polaris Software Lab Limited to gain an understanding of the CBS modules being implemented
by Polaris Software Lab Limited and their data structure.
5.4.1.2
The CBS Vendor will migrate the source data to the Target System. The bidder is expected to
study all the necessary documentation pertaining to data migration carried out by Polaris
Software Lab Limited.
5.4.1.3
The bidder should formulate and share a data migration audit plan with the bank incorporating
activities to be covered as a part of data migration audit. The plan should incorporate, but not
be limited to, the below indicative stages:
5.4.1.4
Validate data migration planning: The bidder should understand and validate the data
migration planning done by Polaris Software Lab Limited, for migrating the data from Source
Systems to the Target System, including but not limited to,
Data migration strategy and methodology

Data migration scope
Data migration work plan
Data testing approach
The bidder should also analyze and validate the tools/queries/scripts used by Polaris Software
Lab Limited for extraction, transformation and migration of data.
5.4.1.5
Configure/develop data migration audit tool: It is up to the bidder to bring and use an
automated data migration audit tool configured to suit the data audit requirements at RBI. If the
bidder proposes an automated tool, the Bank may decide to purchase the license of the
automated tool post successful evaluation / demonstration of the tool by the bidder.
5.4.1.6
Understand and Validate Data mapping: The bidder is expected to understand and validate
the mapping of source data fields to destination data fields defined by the Polaris Software Lab
Limited. The bidder should also validate the method used to create any fresh data fed into the
Target System.
24

5.4.1.7
Validate data extraction and cleaning: The bidder is expected to understand and verify the
integrity of data extracted from the Source Systems and the data cleansing rules/methodologies
adopted by Polaris Software Lab Limited.
5.4.1.8
Validate migrated data: The bidder is expected to verify the integrity and correctness of the
source data reconciled and uploaded into the Target System, identify the gaps in the data
migration and provide a Migration audit report stating the gaps identified in the data migration
audit. The bidder should use an automated tool for verification of data uploaded to the Target
System. The details of the proposed tool should be provided in ANX1.
5.4.1.9
Perform recurring gap analysis: The bidder is expected to work with Polaris Software Lab
Limited to perform a recurring gap analysis and ensure that all the gaps/discrepancies identified
in the Migration Audit Report are rectified by Polaris Software Lab Limited. The gap analysis
may require to be repeated until all errors identified are closed. The bidder is expected to
provide a Final Compliance Report to certify the quality of data, efficiency of data migration
process, and stability of the data environment.
5.4.1.10 Validation of Existing Data archival: The bidder is expected to provide reasonable assurance
for the efficiency of archival of the existing data, related to the migrated regional offices, at the
Data Centre of the bank.
5.4.1.11 The bidder is expected to audit the data migration carried out by Polaris Software Lab Limited
and provide an assurance for the accuracy, integrity, conformity and completeness of the data
migrated from Source Systems to the Target System (This should be performed for the Data
Centre- Khargar, Near Site-Belapur and Far Site-Nagpur.)
5.4.1.12 The Final Compliance Report submitted by the bidder should also provide assurance on the
completeness and accuracy of critical data elements such as those related to the transactions and
items in suspense, pending clearing entries, store and forward transactions, electronic regional
offices advices, the balances at each data migration instance etc.
5.4.1.13 Tool proposed/used for the data migration audit should be licensed in the name of the Bank and
should be made available to the bank for future use, if Bank exercises the option to do so. The
bidder is also expected to train the end users (core users of the project as identified by the
Bank).
5.5
Deliverables and Timelines
5.5.1
Timelines
5.5.1.1
The Data Migration Audit for various offices of RBI shall be carried out in accordance with the
roll out plan laid out by Polaris Software Lab Limited in conjunction with RBI.
5.5.1.2
Data migration audit shall be performed once at end of CBS implementation sign off and then at
the end of each data migration activity signoff/rollout of a regional office/Central office
department.
5.5.1.3
The Data Migration Audit shall be carried out of Mumbai, Navi Mumbai, Delhi and Nagpur
offices of RBI
25

5.5.1.4
Based on the tentative rollout schedule mentioned below, the bidder is expected to submit a
detailed Data Migration Audit Plan to the bank.
5.5.1.5
The roll-out milestones are as defined in the Table 5-2: Implementation Rollout Milestones
below:
Table 5-2: Implementation Rollout Milestones
Regional Office
Department
Belapur, Mumbai
RO
Date/Timeline
December, 2011
Bank Identified RO
(Ahemdabad)
With NCC and ICCOMS

interface
January, 2012
Mumbai RO
Without PDO
January, 2012
Web Portal
February, 2012
Mumbai RO
PDO with DAD, PAD, CCIL

interface and Auctions through
portal
February, 2012
DGBA and CODs
All Departments (Complete

CBS solution)
January, 2012
Multiple ROs

CBS solution)
January May 2012
CAS Nagpur

CBS solution)
April, 2012
The above schedule is tentative; the final schedule would be made available to the successful
bidder by the bank. Multiple regional offices may be rolled out simultaneously.
Apart from the detailed data migration audit plan, the bidder is expected to submit the below list
of deliverables, for each of the above mentioned milestones, to RBI:
1.
Migration Audit Report: The bidder is expected to verify the accuracy, integrity,
conformity and completeness of data reconciled and uploaded into the Target System,
identify the gaps of data migration and submit a Migration Audit report stating the gaps
indentified. The report should outline the discrepancies in the migrated data, auditors
findings, business risks and suggested recommendations.
Migration Audit Report needs to be submitted within 3 weeks of Data Migration
Completion signed off by the CBS Vendor (for a given implementation milestone).
2.
Final Compliance Report: The bidder is expected to work with the CBS Vendor to
perform a gap analysis and rectify the errors identified (and stated in a Migration Audit
26

Report) in the data migration audit. The gap identification and analysis is required to be
repeated until all the errors identified in the Migration Audit Report are fixed by the CBS
Vendor. Once all the errors/gaps identified are corrected, the bidder is expected to submit
a final compliance report to the bank to certify the quality of data and efficiency of data
migration process.
The Final Compliance Report should include, but not be limited to, the following
information:
a. Review of Data Migration strategy/methodology followed by Polaris Software Lab
Ltd.
b. Review of data mapping performed by Polaris Software Lab Ltd.
c. Review of data migration tools/scripts configured/developed by Polaris Software Lab
Ltd.
d. Review of data validation performed by Polaris Software Lab Ltd.
e. Review of logs of data migration activity and the identified errors in accuracy,
integrity, conformity and completeness of data reconciled and uploaded into the Target
System and whether they have been rectified by Polaris Software Lab Ltd. (This
should be performed for the Data Centre-Khargar, Near Site-Belapur and Far SiteNagpur)
f.
Review of post data migration activities such as decommissioning of legacy data and
business sign off on the same, setting up of database security parameters in the new
database, performance of new database vis--vis migration objectives etc.
Final Compliance Report for a given implementation milestone needs to be submitted

within 2 weeks of the CBS Vendor confirming that gaps mentioned in the Migration
Audit Report have been corrected.
3.
Weekly Status Report: The bidder is expected to submit a weekly status report to the
Bank informing about the progress of the ongoing work streams and new work streams
planned to kick-off in the coming week. The status report should also provide a summary
of planned timelines vs. actual timelines and wherever possible provide detailed reasons
for delays or realignment of timelines.
4.
Certificate of confirmation of account balances: The bidder is required to submit a

Certificate of confirmation of account balances on the very day of the roll out by the CBS
Vendor for each rollout. The format of the same would be decided by the bank in
conjunction with the selected bidder.
5.
Certificate of confirmation of entries: The bidder is required to submit, on the very day
of each rollout, a certificate regarding confirmation of entries for
a.
Sundry suspense register
b.
Income expenditure analysis register
c.
DD payable register
d.
PO payable register
e.
Cheques inventory register
27

f.
5.5.2
Stop cheque/inventory register
Service Levels
The service levels of the data migration audit vendor shall be defined as below:
5.5.2.1
A finalised data migration master audit plan covering all the implementation milestones should
be submitted by the successful to the Bank within 4 weeks of appointment as the data migration
auditor for Core Banking Solution at RBI.
5.5.2.2
The Migration audit report for a given implementation milestone needs to be submitted within
3 weeks of the CBS vendor confirming completion of data migration process.
5.5.2.3
Final Compliance Report for a given implementation milestone needs to be submitted within 2
weeks of the CBS Vendor confirming that gaps mentioned in the Migration Audit Report
have been corrected.
5.5.2.4
The bidder is required to submit a Certificate of confirmation of account balances on the very
day of the roll out by the CBS Vendor for each rollout. The format of the same would be
decided by the bank in conjunction with the selected bidder.
5.5.2.5
The bidder is required to submit, on the very day of each rollout, a certificate regarding
confirmation of entries for
a. Sundry suspense register
b. Income expenditure analysis register
c. DD payable register
d. PO payable register
e. Cheques inventory register
f. Stop cheque/inventory register
5.5.2.6
The timelines mentioned above would be finalised by the bank at a later stage, based on the
detailed test plan submitted by the successful bidder.
28

6. Terms and Conditions

6.1
Broad Terms and Conditions
6.1.1.1
The following are the general terms and conditions proposed to be included in the Contract. RBI
reserves the right to add, delete, modify or alter all or any of these terms and conditions in any
manner, as deemed necessary before signing the final agreement.
6.1.1.2
The Bidder, selected for the auditing data migration of CBS project, will have to enter into a
contract agreement directly with RBI. The contract agreement will contain various terms and
conditions relating to payment, penalty due to delay in performance etc. All the deliverables
provided by the bidder for the as the part of the CBS data migration audit and agreed to by RBI,
will also form a part of the agreement.
6.1.1.3
The successful bidder must initiate work on the project within 7 days of receipt of letter of
intent for data migration audit from the bank.
6.1.1.4
The bidder at his own expense will register the contract agreement by paying the appropriate
amount of stamp duty. The first page of the contract agreement shall be on a stamp paper of
appropriate value.
6.1.1.5
The bill for the services rendered must be furnished along with the prices thereof, as per the
terms and conditions contained in this document. The Bidder will undertake to ensure that the
prices are reasonable and in the range of prices for similar / same services available in the
market. If any irregularity is detected anytime in respect of the above, RBI will have the right to
take appropriate action against the Consultant/Bidder, as deemed fit by RBI.
6.1.1.6
Payment shall be made upon the delivery of services as mentioned in the payment terms (under
section 6.21).
6.1.1.7
The inability of the Bidder to provide the requirements as per the scope or to meet the deadlines
as specified would be treated as breach of contract and invoke the Penalty Clause.
6.1.1.8
The maximum limit on the penalties during the period of contract shall be 20 % of the total
contract value.
6.2
Application
6.2.1.1
These conditions shall apply to the data migration audit of CBS to be implemented in RBI.
6.2.1.2
For the purpose of the Purchase Agreement as well as for the purpose of the Tender Document,
the Purchaser is:
Shri Vijay Chugh
Chief General Manger
Reserve Bank of India,
Department of Government and Bank Accounts,
3rd floor, Amar Building,
Sir P.M.Road (Perin Nariman Street)
Mumbai - 400001, India.
Contact No.: 022-22635222
29

Email: vchugh@rbi.org.in
Fax: 022-22635220
6.3
Standards
6.3.1.1
The services and other materials including all deliverables and reports under the contract shall
conform to the standards mentioned in the Technical Bid submitted by the bidder and/or agreed
between RBI and the bidder, and when no applicable standard is mentioned, the
services/deliverables shall be supplied under the authoritative and appropriate international
standards of the such services/deliverables and such standards shall be the latest issued by the
concerned institution/s.
6.4
Governing Language
6.4.1.1
All correspondences and other documents pertaining to the contract shall be in English.
6.5
Applicable Law
6.5.1.1
The Contract shall be governed and interpreted in accordance with the Indian Laws.
6.6
Notices
6.6.1.1
Any notice given by one party to the other pursuant to the contract shall be sent to the other
party (as per the address mentioned in the contract) in writing either by hand delivery or by
registered post or by courier and shall be deemed to be complete only on obtaining
acknowledgement thereof; or by telegram or by telex or by facsimile or by other electronic
media and in which case, the notice will be complete only on confirmation of receipt by the
receiver.
6.6.1.2
A notice shall be effective when delivered or on the notices effective date, whichever is later.
6.7
Contract Amendments
6.7.1.1
Any change made in any clause of the contract which shall modify the purview of the contract
within the validity and currency of the contract shall be deemed as an Amendment. Such an
amendment can and will be made and be deemed legal only when the parties to the contract
provide their written consent about the amendment, subsequent to which the amendment is duly
signed by the parties and shall be construed as a part of the contract. The details of the
procedure for amendment shall be as specified in the contract.
6.8
Use of Contract Documents and Information
6.8.1.1
The bidder shall not, without RBIs prior written consent, disclose the Contract or any provision
thereof, or any specification or information furnished by or on behalf of RBI in connection
therewith, to any person other than a person employed by the Bidder in the performance of the
Contract. Disclosure to any such employed person shall be made in confidence against Non-
30

disclosure agreements completed prior to disclosure and disclosure shall extend only so far, as
may be necessary for the purposes of such performance.
6.8.1.2
Any document, other than the Contract itself, shall remain the property of RBI and all copies
thereof shall be returned to RBI on termination of the Contract.
6.8.1.3
The bidder shall not, without RBIs prior written consent, make use of any document or
information above except for the purposes of performing the Contract.
6.9
Indemnification
6.9.1.1
The bidder shall, at its own cost and expenses, defend and indemnify RBI against all third-party
claims including those of the infringement of Intellectual Property Rights, including patent,
trademark, copyright, trade secret or industrial design rights, arising from use of the Products or
any part thereof in India.
6.9.1.2
The bidder shall expeditiously meet any such claims and shall have full rights to defend itself
there from. If RBI is required to pay compensation to a third party resulting from such
infringement, the Bidder shall be fully responsible therefore, including all expenses and court
and legal fees.
6.9.1.3
RBI will give notice to the bidder of any such claim and shall provide reasonable assistance to
the Bidder in disposing of the claim.
6.9.1.4
The bidder shall also be liable to indemnify RBI, at its own cost and expenses, against all losses/
damages, which RBI may suffer on account of violation by the Bidder of any or all national/
international trade laws, norms, standards, procedures, etc.
6.10
Cancellation of Contract and Compensation
6.10.1.1 RBI reserves the right to cancel the contract of the selected bidder and recover expenditure
incurred by RBI on the following circumstances:
6.10.1.2 The selected bidder commits a breach of any of the terms and conditions of the bid/contract.
The bidder goes into liquidation voluntarily or otherwise.
An attachment is levied or continues to be levied for a period of 7 days upon effects of the
bid.
The progress regarding execution of the contract, made by the selected bidder is found to be
unsatisfactory.
If deductions on account of liquidated Damages exceeds more than 10% of the total contract
price.
The selected bidder is acquired/merged by another company within the contract duration
6.10.1.3 After the award of the contract, if the selected bidder does not perform satisfactorily or delays
execution of the contract, RBI reserves the right to get the balance contract executed by another
party of its choice by giving one months notice for the same. In this event, the selected bidder is
bound to make good the additional expenditure, which RBI may have to incur to carry out
31

bidding process for the execution of the balance of the contract. This clause is applicable, if for
any reason, the contract is cancelled.
6.10.1.4 RBI reserves the right to recover any dues payable by the selected bidder from any amount
outstanding to the credit of the selected bidder, including the pending bills if any, under this
contract or any other contract/order. Work, Reports, documents, etc. prepared under this
contract will become the property of the Reserve Bank of India.
6.11
6.11.1.1 Bidder will submit demand draft/bankers cheque/pay order drawn in favour of Reserve Bank of
India payable at Mumbai towards Earnest Money Deposit (EMD) for Rs. 10, 00,000/(Rupees Ten Lakhs only).
6.11.1.2 The EMD of unsuccessful bidders shall be returned within 15 days from the declaration of the
disqualification of the respective bidder. The EMD of the successful bidder shall be returned
after the completion of full CBS roll out.
6.11.1.3 Offers made without the Earnest money deposit will be rejected.
6.11.1.4 No interest will be paid on EMD to the bidder by the Bank
6.11.1.5 The amount of Earnest money deposit would be forfeited in the following scenarios:
In case the Bidder withdraws the bid prior to validity period of the bid for any reason
whatsoever;
In case the successful Bidder fails to accept and sign the contract as specified in this
document for any reason whatsoever; or
In case the successful Bidder fails to provide the performance guarantee within 15 days from
the date of placing the order by the Bank or signing of the contract, whichever is earlier, for
any reason whatsoever.
6.12
Resolution of Disputes
6.12.1.1 The bids and any contract resulting there from shall be governed by and construed according to
the Indian Laws.
6.12.1.2 All dispute or differences whatsoever arising between the selected bidder and RBI out of or in
relation to the construction, meaning and operation or effect of the Contract, with the selected
bidder, or breach thereof shall be settled amicably. If, however, the parties are not able to
resolve any dispute or difference aforementioned amicably, after issuance of 30 days notice in
writing to the other, clearly mentioning the nature of the dispute / differences, to a single
arbitrator, acceptable to both the parties, for initiation of arbitration proceedings and settlement
of the dispute/s and difference/ strictly under the terms and conditions of the purchase contract,
executed between RBI and the bidder. In case, the decision of the sole arbitrator is not
acceptable to either party, the disputes / differences shall be referred to joint arbitrators, one
arbitrator to be nominated by each party and the arbitrators shall also appoint a presiding
arbitrator before the commencement of the arbitration proceedings. The arbitration shall be
governed by the provisions of the Rules of Arbitration of the Indian Council of Arbitration
under the exclusive jurisdiction of the courts at Mumbai, India.
32

6.12.1.3 The award shall be final and binding on both the parties and shall apply to the purchase contract.
6.12.1.4 Work under the Contract shall be continued by the selected bidder during the arbitration
proceedings unless otherwise directed in writing by RBI unless the matter is such that the work
cannot possibly be continued until the decision of the arbitrator or of the umpire, as the case
may be, is obtained and save as those which are otherwise explicitly provided in the Contract,
no payment due or payable by RBI, to the bidder shall be withheld on account of the ongoing
arbitration proceedings, if any, unless it is the subject matter or one of the subject matters
thereof.
6.12.1.5 The venue of the arbitration shall be at Mumbai, India under the exclusive jurisdiction of the
courts at Mumbai, India.
6.13
Delays in the Bidders Performance
6.13.1.1 The bidder must strictly adhere to the project schedule, as specified in the purchase contract,
executed between the Parties for performance of the obligations, arising out of the purchase
contract and any delay in completion of the obligations by the Bidder will enable RBI to resort
to any or both of the following:
Claiming Liquidated Damages
Termination of the purchase agreement fully or partly and claim liquidated
damages.
6.14
Liquidated Damages
6.14.1.1 The liquidated damages is an estimate of the loss or damage that RBI may have suffered due to
delay in performance or non-performance of any or all the obligations (under the terms and
conditions of the purchase contract) and the bidder shall be liable to pay RBI a fixed amount for
each day of delay / non-performance of the obligations by way of liquidated damages, details of
which will be specified in the purchase contract. Without any prejudice to RBIs other rights
under the law, RBI shall recover the liquidated damages, if any, accruing to RBI, as above, from
any amount payable to the bidder either as per the purchase contract, executed between the
parties or under any other purchase agreement/ contract, RBI may have executed / shall be
executing with the bidder.
6.14.1.2 Liquidated Damages is not applicable for reasons attributable to RBI and Force Majeure.
However, it is the responsibility/ onus of the bidder to prove that the delay is attributed to RBI
and Force Majeure. The bidder shall submit the proof authenticated by the bidder and banks
official that the delay is attributed to RBI and Force Majeure along with the bills requesting
payment.
6.15
Force Majeure
6.15.1.1 The Bidder or RBI shall not be responsible for delays or non-performance of any or all
contractual obligations, caused by war, revolution, insurrection, civil commotion, riots,
mobilizations, strikes, blockade, acts of God, Plague or other epidemics, fire, flood, obstructions
of navigation by ice of Port of dispatch, acts of government or public enemy or any other event
33

beyond the control of either party, which directly, materially and adversely affect the
performance of any or all such contractual obligations.
6.15.1.2 If a Force Majeure situation arises, the Bidder shall promptly notify RBI in writing of such
conditions and any change thereof. Unless otherwise directed by the Purchaser in writing, the
Bidder shall continue to perform his obligations under the contract as far as possible, and shall
seek all means for performance of all other obligations, not prevented by the Force Majeure
event.
6.16
Ancillary Services
6.16.1.1 The bidder shall provide any additional necessary services required for facilitating the
satisfactory delivery of the promised deliverables.
6.17
Audits
6.17.1.1 RBI can conduct any third party inspection/ audit for any phase. The bidder must make all
necessary changes as mentioned by the results of these audits.
6.17.1.2 RBI will incur the cost of appointment of a third party for audit.
6.18
Prices
6.18.1.1 The price charged by the bidder for the services performed for the data migration audit of CBS
Project shall not vary from the contracted prices.
6.18.1.2 No adjustment of the contract price shall be made on account of variation of costs of labour and
materials or any other cost component affecting the total cost in fulfilling the obligations under
the contract. The Contract price shall be the only payment, payable by the Purchaser to the
bidder for completion of the contractual obligations by the bidder under the Contract, subject to
the terms of payment specified in the Contract.
6.18.1.3 The price would be inclusive of all applicable taxes under the Indian law.
6.18.1.4 The prices, once offered, must remain firm and must not be subject to escalation for any reason
within the period of validity. The entire benefits/advantages, arising out of fall in prices, taxes,
duties or any other reason, must be passed on to RBI.
6.19
Taxes and Duties
6.19.1.1 The bidder shall be entirely responsible for all taxes, stamp duties, license fees, and other such
levies imposed within and outside India.
6.19.1.2 The bidder is expected to submit the Commercial bid inclusive of the applicable taxes in the
Annexure ANX9_CommercialBidForm.doc.
6.19.1.3 The fees payable by RBI to Bidder shall be inclusive of all costs such as taxes (including service
tax, as per the rates applicable), levies, cess (collectively referred to as Taxes) that may be
levied, imposed, charged or incurred and RBI shall pay the fees due under this RFP and
subsequent agreement after deducting any tax deductible at source (TDS), as applicable. The
34

Bidder will need to provide the details for the tax rates as considered in the pricing. This will be
used for subsequent tax changes. RBI shall pay each undisputed invoice raised in accordance
with this RFP and subsequent agreement, within thirty (30) Working Days after its receipt
unless otherwise mutually agreed in writing, provided that such invoice is dated after such Fees
have become due and payable under this RFP and subsequent agreement.
6.19.1.4 In case of any variation (upward or down ward) in Government levies/ taxes/ VAT/ cess etc.,
the benefit (in case of downward variation) or burden (in case of upward variation) of other
taxes quoted separately as part of the commercial bid shall be passed on or adjusted respectively
to RBI. Variation would also include the introduction of any new tax/ cess/ excise, etc. If the
Bidder makes any conditional or vague offers, without conforming to these guidelines, RBI will
treat the prices quoted as in conformity with these guidelines and proceed accordingly.
6.20
Non Negotiability on RFP
6.20.1.1 RBI is not responsible for any assumptions or judgments made by the Bidders for arriving at
any type of costing. RBI at all times will benchmark the performance of the Bidder to the RFP
documents circulated to the Bidders and the expected service levels as mentioned in these
documents. In the event of any deviations from the requirements of these documents, the Bidder
must make good the same at no extra costs to RBI, in order to achieve the desired service levels
as well as meeting the requirements of these documents.
6.20.1.2 All terms and conditions, payments schedules, time frame for project execution, expected
service levels as per this Tender will remain unchanged unless explicitly communicated by RBI
in writing to the Bidder. The Bidder shall at no point be entitled to excuse themselves from any
claims by RBI whatsoever for their deviations in conforming to the terms and conditions,
payments schedules, expected service levels, time frame for project execution etc. as mentioned
in this RFP.
6.20.1.3 The Bidders shall adhere to the terms of this RFP and shall not deviate from the same.
35

6.21
Payment Terms
The bidder will have to provide the quote as per the Annexure-ANX9_CommercialBidForm.doc
The applicable payment terms are as mentioned below:
6.21.1
Data Migration Audit Cost
6.21.1.1 No advance payment would be made to the bidder.

6.21.1.2 The bidder is required to perform the Data Migration Audit and provide sign off for the test
database before CBS is rolled out for any regional office of the bank.
6.21.1.3 The bidder must perform Data Migration Audit for each Regional office rolled out by the
Polaris Software Lab ltd. The payment milestones would be as under:
Table 6-1 Payment Milestones
Milestone
Payment Percentage
Submission and bank sign off of Final

Compliance Report for the Data Migration
Audit conducted before the pilot phase (test
database)
25%
Submission and bank sign off of Final

Audit conducted for the pilot RO rolled out
10%
Submission and bank sign off of the Final

Audit conducted for entire IAS and CPAD
data
20%

Audit conducted for CAS data
10%

Audit conducted for Inventory Management
System data
10%

Audit conducted for PDO-NDS data
25%
36

6.21.2
Other Payment Terms
6.21.2.1 Any delay in achievement of the milestones or deliverables will result in delay of the payment.
6.21.2.2 The Bidder recognizes that all payments to the Bidder under this RFP and subsequent agreement
are linked to and dependant on successful achievement and acceptance of milestones/
deliverables/ activities set out in the Project Plan and therefore any delay in achievement of such
milestones/ deliverables/ activities shall automatically result in delay of such corresponding
payment.
6.21.2.3 Any objection/ dispute to the amounts invoiced in the bill shall be raised by RBI within
reasonable time from the date of receipt of the invoice. Upon settlement of disputes with respect
to any disputed invoice(s), RBI will make payment within thirty (30) Working Days of the
settlement of such disputes. All out of pocket expenses, travelling, boarding and lodging
expenses for the entire Term of this RFP and subsequent agreement is included in the amounts
and the Bidder shall not be entitled to charge any additional costs on account of any items or
services or by way of any out of pocket expenses, including travel, boarding and lodging etc.
6.21.2.4 The fees payable by RBI to Bidder shall be inclusive of all costs such as taxes (including service
tax, as per the rates applicable), levies, cess, (collectively referred to as Taxes) that may be
levied, imposed, charged or incurred and RBI shall pay the fees due under this RFP and
subsequent agreement after deducting any tax deductible at source (TDS), as applicable. The
Bidder will need to provide the details for the tax rates as considered in the pricing. This will be
used for subsequent tax changes. RBI shall pay each undisputed invoice raised in accordance
with this RFP and subsequent agreement, within thirty (30) Working Days after its receipt
unless otherwise mutually agreed in writing, provided that such invoice is dated after such Fees
have become due and payable under this RFP and subsequent agreement.
6.21.2.5 In case of any variation (upward or down ward) in Government levies/ taxes/ VAT/ cess etc.,
the benefit (in case of downward variation) or burden (in case of upward variation) of other
taxes quoted separately as part of the commercial bid shall be passed on or adjusted respectively
to RBI. Variation would also include the introduction of any new tax/ cess/ excise, etc. If the
Bidder makes any conditional or vague offers, without conforming to these guidelines, RBI will
treat the prices quoted as in conformity with these guidelines and proceed accordingly.
6.21.2.6 Terms of payment indicated in the Contract that will be issued by RBI to the selected Bidder
will be final and binding on the Bidder and no interest will be payable by RBI on outstanding
amounts under any circumstances. If there are any clauses in the Invoice contrary to the terms of
the Contract, the Bidder should give a declaration on the face of the Invoice or by a separate
letter explicitly stating as follows Clauses, if any contained in the Invoice which are contrary to
the terms contained in the Contract will not hold good against RBI and that the Invoice would
be governed by the terms contained in the Contract concluded between RBI and the Bidder.
Bidder should ensure that the project should not suffer for this reason.
6.21.2.7 The Bidders should note that the contract entered with the successful Bidder will hold valid till
the completion of full CBS rollout. However, RBI will have the right, in its sole discretion to
renegotiate the prices/ terms and conditions at the end of the contract period.
37

7. Evaluation Process
7.1
Objective of Evaluation Process

The objective of the evaluation process is to evaluate the bids to select a capable and best fit
vendor at a competitive price. The evaluation by RBI will be undertaken by a Committee
formed by Bank which would have Bank officials (internal as well as external experts) and
Consultants. The decision of the committee shall be considered final.
For the purpose of the evaluation and selection of bidder for the data migration audit, a twostage bidding process will be followed. The Bidder has to submit (1) Technical Bid and (2)
Commercial Bids separately on the same day before the stipulated time (two separate sets of
hard and soft copies each for Technical and Commercial bids).
The Technical Bid will contain the exhaustive and comprehensive technical details, whereas
the Commercial Bid will contain the pricing information. The Technical Bid shall NOT
contain any pricing or commercial information at all and if the Technical Bid contains any
price related information, then that Technical Bid would be disqualified and would NOT
be processed further.
In the first stage, only the Technical Bids will be opened and evaluated. All technical bids will
be evaluated and a technical score would be arrived at. The bidder scoring the highest technical
score will be ranked as T1. The bidders shall be categorized in the following two bands:
Band 1: Bidders with technical scores more than or equal to 90 percent of the score of T1.
Band 2: Bidders with technical scores more than 80 percent but less than 90 percent of the score
of T1.
Bidders in Band 1 shall be considered to have technically qualified. Such bidders shall progress
to the commercial evaluation stage.
If only one bidder qualifies in Band 1, RBI shall qualify all the bidders in Band 2.
If no bidder qualifies in Band 2, RBI reserves the right to consider the bidder with the next
highest technical score.
In the second stage, the Commercial Bids of only those bidders shall be evaluated who have
qualified in the technical evaluation. The remaining commercial bids, if any, shall not be
opened.
While the technical score carries a weight of 70 percent, the commercial score carries a
weight of 30 percent.
Bank may call for any clarifications/additional particulars required, if any, on the technical/
commercial bids submitted. The bidder has to submit the clarifications/ additional particulars in
writing within the specified date and time. The bidders offer may be disqualified, if the
clarifications/ additional particulars sought by the Bank are not submitted within the specified
date and time.
Bank reserves the right to call for presentation/s etc., from the bidders based on the technical
bids submitted by them. RBI also reserves the right to enquire with references provided by the
bidders regarding previous engagements undertaken by the bidder. Based upon the final
technical scoring, the eligible bidders shall be short listed for final commercial bidding.
38

7.2
Technical Bid Evaluation Process

The scoring methodology for technical bid components is explained in the following paragraphs
of this section. The proposal submitted by the Bidders shall be evaluated on the following
parameters:
Past Experience (PE)
Team Competence (TC)
Presentation (PT)
Scores for the above individual parameters shall be added to determine the technical scores of
the bidders. The bidder with the highest technical score shall be ranked as T1 and shall be
considered as Thigh for the techno-commercial score.
7.3
Scoring Methodology for Past Experience and Team Competence
7.3.1.1
The bidders past experience and team competence would be evaluated as below:
Table 7-1 Scoring Methodology for Past Experience and Team Competence

S.No.
Parameter
Marks
CBS Data Migration Audit experience in one Indian

scheduled commercial bank with minimum 100 branches
100
CBS Data Migration Audit experience in two Indian

scheduled commercial banks with minimum 100 branches
each, or,
200
CBS Data Migration Audit experience in three Indian

scheduled commercial banks with minimum 100 branches
each, or,
300
CBS Data Migration Audit experience in four or more

Indian scheduled commercial banks with minimum 100
branches each, or,
400
CBS Data Migration Audit experience in one International

commercial bank with minimum 100 branches and having
operations in at least 3 countries, or,
100
CBS Data Migration Audit experience in two International
200
39

commercial banks with minimum 100 branches and having

CBS Data Migration Audit experience in three International

commercial banks with minimum 100 branches and having
250
CBS Data Migration Audit experience in four or more

International
commercial banks with minimum 100
branches and having operations in at least 3 countries
300
Please note that a bidder can propose a combination of the above past experience parameters to
obtain the score for PE.
Maximum Score will be 500 from 1 to 7 and minimum qualifying score is 300
The bidder shall score additional points for experience in other Central Banks
Data Migration Audit experience in an International Central
Bank for any of the below systems (max 100 marks)
9
Payment and Settlement Systems
Treasury Systems
Accounting system for the Central bank
100

11
Project Manager with 3 years of Core Banking Solution

Data Migration Audit experience
50
12
Project Manager with more than 3 years of Core Banking

Solution Data Migration Audit experience
100
13
Team Leader with 2 years of Core Banking Solution Data

Migration Audit experience
20
14
Team Leader with more than 2 years of Core Banking

Solution Data Migration Audit experience
40
Please note that each team leader (maximum of 5 team leaders) would be allotted scores based
on the scoring criteria mentioned above.
40

7.3.1.2
In all the above points Core Banking Solution/CBS shall refer to the minimum following
modules:
1.
2.
3.
4.
5.
6.
Current Account / Savings Accounts

Deposits
Loans
Trade Finance
Clearing
Net Banking
7.3.1.3
The score obtained by the bidder for Past Experience shall be considered as PE and score
obtained for Team Competence shall be considered as TC for evaluation as explained in Section
7.7.1.1
7.3.1.4
The Bidder should provide Acknowledgement Letter on the customers letterhead indicating the
past experience details including details of Scope of work, region coverage, number of
branches, name of the CBS Product and details of modules for which the data migration/data
migration audit was conducted for the evaluation as given in the table above.
7.3.1.5
Experience at co-operative banks (State Co-operative banks, District Central co-operative

banks, Urban Co-operative banks, etc.) shall not be considered for evaluation.
7.3.1.6
The bidder must propose a detailed team composition for the audit of the defined scope in
ANX1_Audit_Tools_Methodology_and_Approach.docx.
7.3.1.7
The past experience details of the team proposed should be in sync with the past experience
details of company provided in response to this RFP.
7.4
Scoring Methodology for Presentation
7.4.1
Overview
7.4.1.1
The Bidder is required to make a presentation relating to the services offered in response to RFP
to the Committee formed by the Bank which would have Bank officials (internal as well as
external experts) and Consultants
7.4.1.2
The presentation should include, but not limited to:
7.4.1.3
The Approach and Methodology adopted for the Implementation including

1. Audit tool and capabilities
2. Data Migration Audit Methodology
3. Project Management Methodology
7.4.1.4
Elaborated Project Management Plan covering each of the activities and proposed timelines as
per the rollout/implementation details provided in this document.
7.4.1.5
During the presentation, RBI may seek explanations on various technical and other
requirements and may also conduct a reference check for the experience credentials submitted
by the bidder.
7.4.1.6
RBI at its discretion may reject the proposal of the bidder without giving any reason
whatsoever, if in RBIs opinion, the bidder could not present or demonstrate the data migration
audit capability as described in the proposal.
41

7.4.1.7
The presentation duration and timeline would be notified by the bank at a later stage.
7.5
Consolidated Score in Technical Bid Evaluation
7.5.1.1
The Consolidated Technical Bid Evaluation Score (T) would be a composite of the following
scores:
Table 7-2: Consolidated Score in Technical Bid
Maximum Score
Minimum Score
for Technical
Qualification
500
300
300
150
Presentation (PT)
350
280
Total
1150
730
Scoring Parameter
PE, TC and PT denote the percentage scores obtained by each bidder in the corresponding
sections
7.5.1.2
The final Technical Evaluation Score shall be calculated as following:

T = PE + TC + PT
The bidder with the highest technical score shall be declared as T1.
7.5.1.3
The technical scores of the qualifying bidders shall not be disclosed to all the bidders.
7.5.1.4
RBI, at its discretion, may choose to amend the minimum score for technical qualification stated
above.
7.6
Disqualification Parameters in Technical Bid Evaluation
7.6.1.1
The bidders are required to obtain a minimum score in each of the sections listed above as
specified in Table 7-4 .
7.6.1.2
If only one bidder qualifies, RBI at its discretion may select bidders with the top two technical
scores for commercial evaluation. RBI, at its discretion, may choose to open the commercial bid
of the only bidder who qualifies.
7.7
Commercial Bid Evaluation
7.7.1.1
Commercial bids of only those bidders who qualify the technical evaluation shall be opened.
Commercial bids of the other bidders shall not be opened and their Earnest Money Deposit shall
be returned
42

7.7.1.2
The bidders will have to submit the Commercial bid in the attached format - Annexure
ANX9_CommercialBidForm.doc. The bidder is expected to submit the Commercial bid
inclusive of the applicable taxes.
7.7.1.3
The technical scores of the bidders who qualify technical evaluation shall be disclosed to the
qualified bidders.
7.7.1.4
The Technically Qualified bidder with the lowest Commercial Bid after scrutiny and
normalization would be declared as CLOW.
7.7.1.5
The techno-commercial score shall be calculated as follows:

Total Score = (CLOW / C)*0.3 + (T / THIGH)*0.7.
Here C and T are the commercial and technical scores of the respective bidders.
7.7.1.6
In case of a tie of Total Score between two or more Bidders, the Bid with higher technical score
would be chosen as the successful bidder.
7.7.1.7
RBI will notify the name of the Successful Bidder.
7.7.1.8
Commercial bid valuation shall be considered as below in case of any kind of discrepancy:
1. If there is a discrepancy between words and figures, the amount in words shall prevail
2. If there is a discrepancy between percentage and amount, the amount calculated as per the
stipulated percentage basis shall prevail
3. If there is discrepancy between unit price and total price, the unit price shall prevail
4. If there is a discrepancy in the total, the correct total shall be arrived at by Bank
7.7.1.9
In case the bidder does not accept the correction of the errors as stated above, the bid shall be
rejected.
43

8. Two Stage Bidding Process

8.1
Instructions for Tender Submission
8.1.1.1
Bidders are permitted to submit only one Technical Bid and relevant Commercial Bid. More
than one Technical and Commercial Bid should not be submitted. The Technical and
Commercial bids should be put in separate covers and all such covers shall be put in one single
cover and delivered at the address mentioned above in Section 5.2.1.2.
8.1.1.2
The bidder is expected to submit the Commercial bid inclusive of the applicable taxes in the
Annexure ANX9_CommercialBidForm.doc
8.1.1.3
The cost of bidding and submission of the bids is entirely the responsibility of the bidders,
regardless of the conduct or outcome of the tendering process.
8.1.1.4
Bids, in sealed covers, as per the instructions to bidders should be delivered as mentioned in the
Bid schedule. Bids may be sent by registered post or by hand delivery, so as to be received at
the address given above in the tender schedule.
8.1.1.5
Receipt of the bids shall be closed as mentioned in the bid schedule. Bids received after the
scheduled closing time will not be accepted by RBI under any circumstances. Bank will not
accept bids delivered late for any reason whatsoever including any delay in the postal service,
courier service or delayed bids sent by any other means.
8.1.1.6
The technical bids will be opened as mentioned in bid schedule.
8.1.1.7
The bidders or their authorized representatives may be present at the time of the opening of the
technical bid. Only two persons per bidder will be allowed to be present at the time of the
opening the technical bids. No bid shall be rejected at bid opening stage, except for bids
received late.
8.2
General Guidelines
8.2.1.1
The offers should be made strictly as per the formats specified.
8.2.1.2
A declaration may be given by the bidder stating that "No relative of the bidders is working in
the Reserve Bank of India". If anyone working in the RBI is related to the bidders, the name,
designation and the department where the person is posted may be given. Please provide the
same in the annexure ANX5_ConfirmationOfEligibility.doc
8.2.1.3
The bid should contain no interlineations, erasures or over-writings except as necessary to

correct errors made by the bidder. In such cases, the person/s signing the bid should initial such
corrections.
8.2.1.4
The bidder is expected to examine all instructions, forms, terms and conditions and technical
specifications in the Bidding Documents. Failure to furnish all information required by the
Bidding Documents or submission of a bid not substantially responsive to the Bidding
Documents in every respect will be at the Bidders risk and may result in rejection of the bid.
8.2.1.5
No rows or columns of the tender should be left blank. Offers with insufficient information and
Offers which do not strictly comply with the stipulations given above, are liable for rejection.
44

8.2.1.6
Bank may at its discretion abandon the process of the selection of Bidder anytime before
notification of award.
8.2.1.7
All information (bid forms or any other information) to be submitted by the bidders may be
submitted as a softcopy also in MS Word format in a CD and should be kept in the respective
sealed covers. The soft copy submission should be an exact replica of the hard copy submission
and should include scanned copy of all the relevant documents including signatures/company
seal wherever present on the hard copy. The bidders may note that no information is to be
furnished to RBI through e-mail except when specifically requested and such queries are to be
confirmed in writing.
8.2.1.8
RBI reserves the right to advance or post-pone the pre-bid conference date. However, bidders
will be informed the date of pre-bid conference in advance to submit their queries to RBI
seeking clarification.
8.2.1.9
The bids will be opened in the presence of authorized representatives of the bidders. However,
the representative of the bidder has to produce an authorization letter from the bidder to
represent them at the time of opening of Technical/Commercial bids. Only two representatives
will be allowed to represent any bidder. In case the bidders representative is not present at the
time of opening of bids, the quotations/bids will still be opened at the scheduled time at the sole
discretion of RBI.
8.3
Clarification on the Tender Document
8.3.1.1
For any clarification with respect to this RFP, the bidder may send an email to
cbsdgba@rbi.org.in. The format to be used for seeking clarification is mentioned in Annexure
ANX10_PreBidQueryFormat.doc.It may be noted that all queries, clarifications, questions
etc., relating to this RFP, technical or otherwise, must be in writing only and should be to the
designated email id as stated earlier.
8.3.1.2
Written requests for clarification may be submitted to RBI at least 2 days prior to Pre-bid
meeting and clarifications for such queries shall be provided by RBI or its representative in the
pre-bid meeting.
8.3.1.3
The Pre Bid Query Form should preferably be emailed to RBI or provided by softcopy in
either event hardcopy confirmations are to be submitted in the beginning of pre bid meeting.
8.3.1.4
Bidders should provide their email address in their queries without fail since replies from Bank
will be by emails only.
8.3.1.5
Responses to queries and clarifications wherever necessary shall be placed in Banks website
(www.rbi.org.in).
8.3.1.6
The Bank shall not answer any communication initiated by Respondents after 2 business days
prior to the date of Pre-bid meeting mentioned in Section 1 of this RFP. At the end of the Prebid meeting but not later than 2 business days from the close of Pre-bid meetings, the
respondents shall confirm to Bank in writing to the effect that all their queries have been
answered to enable them to make a complete and valid response to the RFP. However, the Bank
may in its absolute discretion seek additional information or material from any Respondents
after the RFP closes and all such information and material provided must be taken to form part
of that Respondents response.
45

8.4
Amendments to Tender Document
8.4.1.1
Amendments to the Tender Document may be issued by RBI for any reason, whether at its own
initiative or in response to a clarification requested by a prospective bidder, prior to the deadline
for the submission of bids, which will be placed on the RBI website.
8.4.1.2
The amendments so placed on RBIs website will be binding on all the bidders. From the date of
issue, amendments to Terms and Conditions shall be deemed to form an integral part of the
RFP. Further, in order to provide, prospective bidders, reasonable time to take the amendment
into account in preparing their bid, RBI may, at its discretion extend the deadline for submission
of bids.
8.5
Language of Bids
8.5.1.1
All bids and supporting documentation shall be submitted in English.
8.6
Period of Bid Validity
8.6.1.1
The Bids will be treated as valid for a period of 180 days from the closing date for submission
of the bid
8.7
Format and Signing of Bid
8.7.1.1
The bid should be signed by the bidder or any person duly authorized to bind the bidder to the
contract. The signatory should give a declaration and through authenticated documentary
evidence establish that he/she is empowered to sign the tender documents and bind the bidder.
All pages of the tender documents except brochures if any are to be signed by the authorized
signatory.
8.7.1.2
Forms with respective must be submitted and signed by the authorized signatory. Unsigned bids
would entail rejection of the bid.
8.8
Correction of Errors
8.8.1.1
Arithmetic errors in bids will be treated as follows:

Where there is a discrepancy between the amounts in figures and in words, the amount in
words shall govern; and
The amount stated in the tender form shall be considered as binding, unless it causes the
overall tender price to rise, in which case the bid amount mentioned in the
ANX9_CommercialBidForm.doc shall govern.
8.9
Acceptance or Rejection of Bid
8.9.1.1
RBI reserves the right not to accept any bid, or to accept or reject a particular bid at its sole
discretion without assigning any reason whatsoever.
46

8.10
Duration and Condition of Engagement
8.10.1.1 Reserve Bank of India shall engage and appoint the successful Bidder till the completion of full
CBS rollout to provide services as detailed in the under Section 5 of this document and in
consideration of remuneration payable by Reserve Bank of India to the bidder
8.10.1.2 RBI will reserve the right to terminate the services of the bidder at any point of the Project
without assigning any reasons. In such case payment would be made commensurate with the
last competed phase.
8.10.1.3 Information collected or provided to the bidder would be confidential and shall not be used by
him for any other purpose. The work/study carried out by the bidder would be the sole property
of RBI
8.10.1.4 At no point should bidder use the name of RBI without prior written permission to advertise
itself.
8.10.1.5 Tool proposed/used for the data migration audit should be licensed in the name of the Bank. The
bidder is also expected to train the end users (core users of the project as identified by the Bank)
till the Banks personnel gain sufficient expertise in using the automated audit tool.
8.10.1.6 If the bidder proposes an automated tool, the Bank may decide to purchase the license of the
automated tool post successful evaluation / demonstration of the tool by the bidder.
8.11
General Terms and Conditions
8.11.1.1 The term of this Bidder assignment is till the completion of CBS rollout by Polaris Software
Lab Limited from the date of acceptance of appointment order.
8.11.1.2 Adherence to terms and conditions: The bidders who wish to submit responses to this RFP
should note that they should abide by all the terms and conditions contained in the RFP. If the
responses contain any extraneous conditions put in by the respondents, such responses will be
disqualified and will not be considered for the selection process.
8.11.1.3 DISCLAIMER : RBI and/or its officers, employees disclaim all liability from any loss or
damage, whether foreseeable or not, suffered by any bidder/ person acting on or refraining from
acting because of any information including statements, information, forecasts, estimates or
projections contained in this document or conduct ancillary to it whether or not the loss or
damage arises in connection with any omission, negligence, default, lack of care or
misrepresentation on the part of Bank and/or any of its officers, employees.
8.12
Other Terms and Conditions

Reserve Bank of India reserves the right to:
8.12.1.1 Reject any and all responses received in response to the RFP without assigning any reason
whatsoever
8.12.1.2 Cancel the RFP/Tender at any stage, without assigning any reason whatsoever
47

8.12.1.3 Waive or Change any formalities, irregularities, or inconsistencies in this proposal (format and
delivery). Such a change/waiver would be duly and publicly notified on RBI's website before
the closure of the bid date
8.12.1.4 Extend the time for submission of all proposals and such an extension would be duly and
publicly notified on RBI's website
8.12.1.5 Select the next most responsive bidder if the first most responsive bidder evaluated for selection
fail to result in an agreement within a specified time frame
8.12.1.6 Share the information/ clarifications provided in response to RFP by any bidder, with all other
bidder(s) /others, in the same form as clarified to the bidder raising the query.
8.12.1.7 The key persons identified by the bidder for the project should carry out their activities from the
premises of Reserve Bank of India, Mumbai, Reserve Bank of India, Navi Mumbai and Reserve
Bank of India, Nagpur.
8.12.1.8 The clarifications, if any, required by the bidder should be informed in writing, in advance to
the address given above. Such clarifications can be asked up to the last date for submission of
bids. If RBI in its absolute discretion deems that the originator of the clarification will gain any
advantage by a response to a question, then Bank reserves the right to communicate such query
and response to all respondents of the RFP. The bidder appointed under the RFP cannot
participate/ bid for providing services/ products under the CBS implementation post its
appointment.
8.12.1.9 Substitution of Project Team Members: During the assignment, the substitution of key staff
such as Project Manager, Team Leader etc identified for the assignment will not be allowed
unless such substitution becomes unavoidable to overcome the undue delay or that such changes
are critical to meet the obligation. In such circumstances, the bidder can do so only with the
concurrence of RBI by providing other staff of same level of qualifications and expertise. If RBI
is not satisfied with the substitution, RBI reserves the right to terminate the contract and recover
whatever payments made by RBI to the bidder during the course of this assignment besides
claiming an amount, equal to the contract value as liquidated damages. However, RBI reserves
the right to insist the bidder to replace any team member with another (with the qualifications
and expertise as required by RBI) during the course of assignment.
8.12.1.10 Professionalism: The bidder should provide professional, objective and impartial services at all
times and hold RBIs interests paramount and should observe the highest standard of ethics
while executing the assignment.
8.12.1.11 Adherence to Standards: The bidder should adhere to laws of land and rules, regulations and
guidelines prescribed by various regulatory, statutory and Government authorities.
8.12.1.12 No legal binding relationship: It may be noted that no binding legal relationship will exist
between any of the Respondents of this RFP and RBI, until execution of a contractual
agreement.
8.12.1.13 RBI reserves the right to conduct an audit/ongoing audit of the services provided by the bidder.
8.12.1.14 RBI reserves the right to ascertain information from the banks and other institutions to which
the bidders have rendered their services for execution of similar projects.
8.12.1.15 The bidders, who involve in any form of lobbying/ influencing/ canvassing etc., in selection
process will be disqualified.
48

8.13
Expenses incurred by successful bidder on the project
8.13.1.1 Expenses: It may be noted that the project office from where the project shall be managed and
implemented shall be established in Mumbai, Navi Mumbai and Nagpur. RBI will not pay any
amount /expenses /charges /fees /travelling expense /boarding expenses /lodging expenses
/conveyance expenses /out of pocket expenses other than the Agreed Professional Fee.
8.13.1.2 However, travelling, boarding and lodging expenses, if any, for site visits outside Mumbai, Navi
Mumbai and Nagpur, for project related work will be discussed with RBI as to the need,
duration, number of personnel involved, etc., and will have to be cleared by RBI in advance in
writing. Settlement of bills in such cases will be at rates applicable to Grade B/C officers of RBI
against production of tickets and bills depending upon the designation of the staff of the bidder
firm who actually undertakes the journey. Mumbai will be considered as the base station for the
purpose of travelling.
8.14
Evaluation and Comparison of Bids
8.14.1.1 Only bids from Bidders meeting the defined requirements and submitting complete and
responsive bids will be processed to the stage of being fully evaluated and compared. The
evaluation criteria shall be based on the requirements, stated elsewhere in this document.
8.15
Notification of Award
8.15.1.1 The acceptance of a tender, subject to contract, will be communicated in writing at the address
supplied by the Bidder in the tender response. Any change of address of the Bidder, should
therefore be promptly notified to Shri Vijay Chugh, Chief General Manager, Department of
Government and Bank Accounts, Core Banking Division, 3rd Floor, Amar Building, Fort, Sir
P.M. Road, (Perin Nariman Street), MUMBAI 400 001, INDIA.
8.16
Authorized Signatory for signing the contract
8.16.1.1 The selected bidder shall indicate the authorized signatories who can discuss and correspond
with RBI, with regard to the obligations under the contract. The selected bidder shall submit at
the time of signing the contract, a certified copy of the resolution of their Board, authenticated
by Company Secretary, authorizing an official or officials of the company or a Power of
Attorney copy to discuss, sign agreements/contracts with RBI. The bidder shall furnish proof of
signature identification for above purposes as required by RBI.
8.17
Signing of Contract
8.17.1.1 The Bidder shall be required to enter into a contract with Reserve Bank of India, within 15 days
of the award of the tender or within such extended period.
49

8.18
Right to Reject Bids
8.18.1.1 RBI reserves the absolute right to reject the response/proposal if it is not in accordance with its
requirements and no correspondence will be entertained by RBI in the matter. The bid is liable
to be rejected if,
It is not in conformity with the instructions mentioned in this tender document.
If it is not strictly as per prescribed form and format
It is not properly/duly signed.
It is received through Fax, Telex or Telegram.
It is received after expiry of the due date and time
It is incomplete including non-furnishing the required documents.
It is evasive or contains incorrect information.
There is canvassing of any kind.
It is submitted anywhere other than the address provided in section 6.2.1.2.
8.19
Vicarious Liability
8.19.1.1 The bidder shall be the principal employer of the employees, agents, contractors, subcontractors
etc., engaged by the bidder and shall be vicariously liable for all the acts, deeds or things,
whether the same is within the scope of power or outside the scope of power, vested under the
contract. No right of any employment shall accrue or arise, by virtue of engagement of
employees, agents, contractors, subcontractors etc., by the bidder, for any assignment under the
contract. All remuneration, claims, wages dues etc., of such employees, agents, contractors,
subcontractors etc., of the bidder shall be paid by the bidder alone and RBI shall not have any
direct or indirect liability or obligation, to pay any charges, claims or wages of any of the
bidders employees, agents, contractors, subcontractors etc. The bidder shall agree to hold RBI,
its successors, assigns and administrators fully indemnified, and harmless against loss or
liability, claims, actions or proceedings, if any, that may arise from whatsoever nature caused to
RBI through the action of bidders employees, agents, contractors, subcontractors etc.
8.20
Non Payment of Professional Fees
8.20.1.1 If any of the items/activities as mentioned in the price bid and as mentioned in
ANX9_CommercialBidForm.doc are not taken up by RBI during the course of this assignment,
RBI will not pay the professional fees quoted by the bidder in the Price Bid against such
activity/item.
8.21
Assignment
8.21.1.1 Neither the contract nor any rights granted under the contract may be sold, leased, assigned, or
otherwise transferred, in whole or in part, by the bidder, and any such attempted sale, lease,
50

assignment or otherwise transfer shall be void and of no effect without the advance written
consent of RBI.
8.22
Non-Solicitation
8.22.1.1 The bidder, during the term of the contract and for a period of two years thereafter shall not
without the express written consent of RBI, directly or indirectly:
8.22.1.2 Recruit, hire, appoint or engage or attempt to recruit, hire, appoint or engage or discuss
employment with or otherwise utilize the services of any person who has been an employee or
associate or engaged in any capacity, by RBI in rendering services under the contract; or
8.22.1.3 Induce any person who shall have been an employee or associate of RBI at any time to
terminate his/ her relationship with RBI.
8.23
No Employer-Employee Relationship
8.23.1.1 The bidder or any of its holding/subsidiary/joint-venture/ affiliate / group / client companies or
any of their employees / officers / staff / personnel / representatives/ agents shall not, under any
circumstances, be deemed to have any employer-employee relationship with RBI or any of its
employees/officers/ staff/representatives/ personnel/agents.
8.24
Subcontracting
8.24.1.1 The bidder shall not subcontract or permit anyone other than its personnel and the parties
enlisted in the response to perform any of the work, service or other performance required of the
bidder under the contract without the prior written consent of RBI.
51

9. Proposal Response
9.1.1.1
The response is expected in two separate envelopes; one containing the Technical Bid and the
other containing the Commercial Bid. The bidder should submit two copies of Technical and
Commercial bids.
9.1.1.2
The Technical Bid envelope should be labelled as:
9.1.1.3
TECHNICAL BID for Reserve Bank of Indias CORE BANKING SOLUTION DATA
MIGRATION AUDIT SUBMITTED BY M/s.. ON..AT MUMBAI, DUE DATE
________ on top of the sub-envelope containing the technical bid.
9.1.1.4
The Commercial Bid envelope should be labelled as:
9.1.1.5
COMMERCIAL BID for Reserve Bank of Indias CORE BANKING SOLUTION DATA
MIGRATION AUDIT SUBMITTED BY M/s.. ON..AT MUMBAI, DUE DATE
_______ on top of the sub-envelope containing commercial bid. Third sub envelope should
have the hard copy and CD for Commercial Bid.
9.1.1.6
One of the two envelopes of the Technical as well as Commercial bids should be labelled as
Original Copy while the other should be labelled Duplicate Copy.
9.1.1.7
The envelope labelled Original Copy, along with the technical proposal, shall also contain:
CD with the soft copy of the technical bid and annexure. The soft copies should be MS Word
documents in MS Word 2003 format.
Earnest Money Deposit.
9.1.1.8
These two separate sealed sub-envelopes should be put together in another sealed master
envelope labelled BID for RBIs CORE BANKING SOLUTION DATA MIGRATION
AUDIT PROJECT TENDER REFERENCE NO. SUBMITTED BY .. ON... AT
MUMBAI, DUE DATE ________.
9.1.1.9
The Technical Bid shall contain the technical proposal to the requirement of RBI as specified in
Annexure ANX8_TechnicalBidForm.doc along with all the annexure documents mentioned
below:
Non-Disclosure Agreement
ANX2_ConformityOfSoftCopy.doc
ANX3_ConfirmationOfTermsAndConditions.doc
ANX4_ConfirmationToDeliver.doc.
ANX5_ConfirmationofEligibility.doc
ANX6_AuditedFinancialStatements.doc
ANX7_SubmissionCheckList.doc
52

9.1.1.10 The Commercial Bid shall be submitted as per Annexure ANX9_CommercialBidForm.doc and
should also include ANX11_Commercial BOM.xls.
9.1.1.11 The Commercial Bid in ANX9_CommercialBidForm.doc should include professional fees and
applicable taxes only. The form should not include the automated tool prices (which is optional
for the Bank)
9.1.1.12 The pages of all hard copies of the technical and commercial proposals should be properly
numbered, each page signed and stamped. The technical proposal should be bound in such a
way that the sections of the proposal could be removed and separated easily.
9.1.1.13 Please note that if any envelope is found to contain technical and commercial offer in a single
envelope or commercials are provided along with the technical response, then that offer will be
rejected outright.
9.1.1.14 The Bidder should certify that the contents of the CDs are the same as that provided by way of
hard copy as per letter format given in Annexure ANX2_ConformityOfSoftCopy.doc. In case
of any discrepancy, the hard copy shall supersede the soft copy.
9.1.1.15 The bidder should confirm that the bidder fulfils the eligibility criteria mentioned in the section
4 and should submit this confirmation as per the format given in Annexure
ANX5_ConfirmationOfEligibility.doc
9.1.1.16 The bidder should confirm that they accept all the terms and conditions mentioned in the RFP
and
provide
the
confirmation
as
per
the
format
given
in
ANX3_ConfirmationOfTermsAndConditions.doc
9.1.1.17 All the pages of the proposal including annexure, appendices and documentary proofs should be
numbered and be signed by the authorized signatory.
9.1.1.18 The bid responses should include Copy of the Tender document along with all clarifications
released by RBI duly putting the seal and signature on all the pages of the document for having
noted the contents and testifying conformance to the terms and conditions set out therein should
also be enclosed in the Master Envelope.
9.1.1.19 The proposal should be prepared in English in MS Word 2003 format. The email address and
phone / fax numbers of the bidder shall also be indicated on sealed envelopes.
9.1.1.20 Bidder will submit demand draft/bankers cheque/pay order drawn in favour of Reserve Bank of
India payable at Mumbai towards Earnest Money Deposit (EMD) for Rs. 10, 00,000/(Rupees Ten Lakhs only). The RFP responses without accompanying the demand draft /
bankers cheque / pay order towards EMD will be rejected.
9.1.1.21 The EMD of unsuccessful bidders shall be returned within 15 days from the declaration of the
disqualification of the respective bidder. The EMD of the successful bidder shall be returned
after the successful bidder furnishes the Performance Bank Guarantee.
9.1.1.1 The successful bidder shall at his own expense deposit with the Chief General Manager InCharge, Department of Government and Bank Accounts, Reserve Bank of India, Mumbai
within fifteen (15) working days of the signing of the contract, a Performance Bank Guarantee
from a scheduled commercial bank, payable on demand for an amount to twenty percent (20%)
of the contract price, for the due performance and fulfilment of the contract by the Bidder.
53

9.1.1.2 Without prejudice to the other rights of the Purchaser under the Contract in the matter, the
proceeds of the Performance Bank Guarantee shall be payable to RBI as compensation for any
loss resulting from the Bidders failure to complete its obligations under the Contract. RBI shall
notify the Bidder in writing of the invocation of its right to receive such compensation,
indicating the contractual obligation(s) for which the Bidder is in default.
9.1.1.3 The Performance Bank Guarantee may be discharged upon being satisfied that there has been
due performance of the obligations of the bidder under the contract. The Performance Bank
Guarantee shall be valid till the end of the contract.
9.1.1.4 The Performance Bank Guarantee shall be denominated in the currency of the Contract and
shall be by bank guarantee or another form acceptable to RBI.
9.1.1.5 The Performance Bank Guarantee will be valid till the end of the contract Failure of the
successful bidder to comply with the above requirement, or failure of the bidder to enter into a
contract within 30 days or within such extended period, as may be specified by the Chief
General Manager, Department of Government and Bank Accounts, Reserve Bank of India,
Mumbai, shall constitute sufficient grounds, among others, if any, for the annulment of the
award of the tender. The format of the Performance Bank Guarantee will be provided to the
successful bidder at a later date.
9.1.1.6
The bid envelopes must be addressed to:

Shri Vijay Chugh,
Chief General Manager
Department of Government and Bank Accounts (DGBA)
3rd Floor, Amar Building,
Sir P.M.Road, (Perin Nariman Street) Fort, Mumbai 400 001
Contact No.: 022-22635222
Email: vchugh@rbi.org.in
Fax: 022-22635220
9.1.1.7
Only one Submission of response to RFP by each Bidder / respondent will be permitted.
9.1.1.8
All responses including commercial and technical bids would be deemed to be irrevocable
offers/proposals from the Bidder and may, if accepted by RBI, form part of the final contract
between RBI and the selected Bidder. Bidder is requested to attach a letter from an authorized
signatory attesting the veracity of information provided in the responses annexure
ANX4_ConfirmationToDeliver.doc. Unsigned responses would be treated as incomplete and
are liable to be rejected.
9.1.1.9
All envelopes should be securely sealed and stamped. The authorized signatories of the Bidder
should initial on all pages of the technical and commercial proposals. Annexure
ANX7_SubmissionCheckList.doc can be used as a checklist. The bid response should be
submitted in 2 envelopes as suggested above.
9.1.1.10 All envelopes must be super-scribed with the Name of Bidder with contact number and email
ID.
54

END OF DOCUMENT
55

Reserve Bank of India

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Reserve Bank of India

Uploaded by

Copyright:

Available Formats

Reserve Bank of India

Request For Proposal for Data