MUDRA Loan Appraisal System: Expression of Interest (EOI)

Micro Units Development & Refinance Agency Limited
(MUDRA Ltd)
Expression of Interest (EOI)

For
Implementation of
MUDRA Loan Appraisal System
(निविदा सं. 4508 ददिांक जििरी 07/01/2019)

(EOI No. 4508 dated January 07/01/2019)
Expression of Interest
This page has been left blank intentionally.
2 Introduction and Disclaimers | MUDRA

Mudra Loan Appraisal System
Notice
This document is the property of Micro Units Development Refinance Agency Ltd.
(MUDRA). It may not be copied, distributed or recorded on any medium, electronic
or otherwise, without MUDRA’s written permission. Use of contents given in this
document, even by the authorized personnel/agencies for any other purpose other
than the purpose specified herein, is strictly prohibited as it shall amount to
copyright violation and thus shall be punishable under the Indian law.
MUDRA | Introduction and Disclaimers 3

Important Clarifications
Some terms have been used in the document interchangeably for the meaning as
mentioned below :
1. ‘Mudra’ means ‘Small Industries Development Mudra of India’.
2. ‘Bidder’ means the respondent to the EOI document.
3. ‘Successful Bidder’ refers to the bidder who gets selected by the Mudra after
completion of evaluation process for EOI.
4. ‘Service provider’ means the vendor selected out of this EOI and contracted to
provide the services as per scope of this EOI.
5. ‘EOI’ or ‘Tender’ means the Expression of Interest document.
6. ‘DC’ means Data centre, ‘DR’ means disaster recovery site
7. ‘Bid’ may be interchangeably referred to as ‘Offer’.
8. ‘Authorized Signatory’ of the bidder is the person who has the power of attorney
on behalf of the bidding organization for submission of bid response against this
EOI / Tender document.
Glossary
Acronym Description
BG Bank Guarantee
BPR Business Process Re-engineering
DR Disaster Recovery
EMD Earnest Money Deposit
EOI Expression of Interest
LOI Letter of Intent
OEM Original Equipment Manufacturer
PBG Performance Mudra Guarantee
RfP Request for Proposal
TAT Turn-Around-Time
TTT Train The Trainer

Table of Contents
1. INTRODUCTION AND DISCLAIMERS ......................................................................................................... 7
1.1 PREFACE ......................................................................................................................................................... 7
1.2 INFORMATION PROVIDED ............................................................................................................................... 7
1.3 FOR RESPONDENT ONLY ................................................................................................................................. 7
1.4 DISCLAIMER ................................................................................................................................................... 7
1.5 COSTS TO BE BORNE BY RESPONDENTS .......................................................................................................... 8
1.6 NO LEGAL RELATIONSHIP .............................................................................................................................. 8
1.7 RECIPIENT OBLIGATION TO INFORM ITSELF ................................................................................................... 8
1.8 EVALUATION OF OFFERS ................................................................................................................................ 8
1.9 ACCEPTANCE OF SHORTLISTING PROCESS ...................................................................................................... 8
1.10 ERRORS AND OMISSIONS ................................................................................................................................ 8
1.11 ACCEPTANCE OF TERMS ................................................................................................................................. 9
1.12 EXPRESSION OF INTEREST .............................................................................................................................. 9
1.13 NOTIFICATION ................................................................................................................................................ 9
2. GENERAL INFORMATION AND SUBMISSION OF EOI RESPONSE ................................................... 10
2.1 INVITATION FOR EXPRESSION OF INTEREST .................................................................................................. 10
2.2 GUIDELINES FOR SUBMISSION OF EOI .......................................................................................................... 10
2.3 BID PRICE ..................................................................................................................................................... 10
2.4 EOI CLOSING DATE ...................................................................................................................................... 10
2.5 EOI VALIDITY PERIOD ................................................................................................................................. 11
2.6 LATE EOI POLICY ........................................................................................................................................ 11
2.7 RECEIVING OF EOI RESPONSE ...................................................................................................................... 11
2.8 NON-DISCLOSURE ........................................................................................................................................ 11
2.9 PRIME BIDDER .............................................................................................................................................. 11
2.10 REQUESTS FOR INFORMATION....................................................................................................................... 11
2.11 ISSUE OF CORRIGENDUM .............................................................................................................................. 12
2.12 PRE-BID MEETING ........................................................................................................................................ 12
2.13 DISQUALIFICATION ....................................................................................................................................... 12
2.14 DETAILS TO BE SUBMITTED BY THE BIDDER .................................................................................................. 12
2.15 IMPORTANT INSTRUCTIONS .......................................................................................................................... 13
3. BACKGROUND ................................................................................................................................................ 14
4. PROCESS OF EVALUATION ........................................................................................................................ 15
4.1 CRITERIA FOR SHORTLISTING ....................................................................................................................... 15
4.1.1 Eligibility criteria ................................................................................................................................ 15
4.1.2 EoI Assessment Criteria....................................................................................................................... 15
4.2 EVALUATION PROCESS ................................................................................................................................. 16
4.3 MUDRA RIGHTS.......................................................................................................................................... 17
5. PROJECT SCOPE ............................................................................................................................................ 18
5.1 PROJECT OBJECTIVE ..................................................................................................................................... 18
5.2 PROCESSES TO SANCTION MUDRA LOAN .................................................................................................... 18
5.2.1 Customer approaching for loan ........................................................................................................... 18
5.2.2 Pre – sanction procedure ..................................................................................................................... 19
5.2.3 Sanction procedure .............................................................................................................................. 19
5.3 FUNCTIONALITIES EXPECTED FROM PROPOSED SYSTEM .............................................................................. 19
5.4 INFRASTRUCTURE FOR HOSTING THE SOLUTION .......................................................................................... 20
6. ANNEXURES .................................................................................................................................................... 21
6.1 ANNEXURE – I : BID COVERING LETTER ....................................................................................................... 21
6.2 ANNEXURE – II : GENERAL INFORMATION ABOUT BIDDER ........................................................................... 22
6.3 ANNEXURE – III : RESPONSE TO THE ELIGIBILITY CRITERIA......................................................................... 23
6.4 ANNEXURE – IV : RESPONSE FOR EOI ASSESSMENT AND OTHER DETAILS................................................... 24

Critical Information/ महत्िपूर्ण सूचिा

(EOI No: 4508 dated 07/01/2019)
SNo. Events / कार्णक्रम Date/ निथि Time/

क्र.सं. समर्
1 Last date for seeking clarifications January 10, 2019 3:00 PM
for pre-bid meeting/ पूर्-व बोली बैठक के
ललए स्पष्टीकरण की म ांग की अांतिम तिथि
2 Pre Bid meeting (no clarifications January 11, 2019 4:00 PM
would be given after pre-bid meeting)
3 Last date for submission of bids/ January 28, 2019 3:00 PM
बोली जम करने की अांतिम तिथि
4 Tender closing date & time/ टें डर बांद January 28, 2019 4:00 PM
होने की तिथि र् समय
5 Address for Bid Submission/ बोली
MD & CEO
जम करने क पि
Micro Units Development & Refinance Agency
Limited
First Floor, MSME Development Centre, C-11,
G Block, Bandra Kurla Complex
Bandra East, Mumbai - 400051
6 Date & Time of Opening of Minimum January 28, 2019 , 5:00 PM

Eligibility bid & Technical bid/ न्यूनिम
र् िकनीकी बोली खोलने की तिथि र् समय
7 Bid Validity/ बोली के र्ैद्यि 90 days from the last date of bid submission.
बोली जम करने की अांतिम तिथि से 90 ददन िक|
8 Presentations to be made by The bidders are required to arrange for
bidders/ बोलीद ि ओां द्र् र की ज ने र् ली Presentation. Date would be intimated after bid
submission.
प्रस्िुतिय ाँ
बोलीद ि ओां को प्रस्िुतियों क प्रबांध करन होग |
9 Contact details of MUDRA officials Harshit Agarwal, Asst. Manager
Phone - 022 67221414
harshita@mudra.org.in
Asish Topdar, CTO

Phone - 022 67531244
atopdar@mudra.org.in

1. Introduction and Disclaimers

1.1 Preface
This Expression of Interest document (‘EOI document’ or EOI) has been prepared solely
for the purpose of enabling MUDRA to shortlist prospective bidders for creation of an online
Loan appraisal system for Pradhan Mantri Mudra Yojana. The EOI document is not a
recommendation, offer or invitation to enter into a contract, agreement or any other
arrangement, in respect of the services. The solution will be made accessible through
mobile/tablet application. The provision of the services is subject to observance of
selection process and appropriate documentation being agreed between MUDRA and any
successful Bidder as identified by MUDRA, after completion of the selection process as
detailed in this document.
1.2 Information Provided

The EOI document contains statements derived from information that is believed to be true
and reliable at the date obtained but does not purport to provide all of the information that
may be necessary or desirable to enable an intending contracting party to determine
whether or not to enter into a contract or arrangement with MUDRA in relation to the
provision of services. Neither MUDRA nor any of its directors, officers, employees, agents,
representative, contractors, or advisers gives any representation or warranty (whether oral
or written), express or implied as to the accuracy, updating or completeness of any
writings, information or statement given or made in this EOI document. Neither MUDRA
nor any of its directors, officers, employees, agents, representative, contractors, or
advisers has carried out or will carry out an independent audit or verification or
investigation or due diligence exercise in relation to the contents of any part of the EOI
document.
1.3 For Respondent only

The EOI document is intended solely for the information of the party to whom it is issued
(“the Recipient” or “the Respondent” or “the Bidder”) i.e. Government Organization/Public
Sector Undertaking (PSU) / Limited Company registered in India and no other person or
organization.
1.4 Disclaimer
Subject to any law to the contrary, and to the maximum extent permitted by law, Mudra
and its directors, officers, employees, contractors, representatives, agents, and advisers
disclaim all liability from any loss, claim, expense (including, without limitation, any legal
fees, costs, charges, demands, actions, liabilities, expenses or disbursements incurred
therein or incidental thereto) or damage, (whether foreseeable or not) (“Losses”) suffered
by any person acting on or refraining from acting because of any presumptions or
information (whether oral or written and whether express or implied), including forecasts,
statements, estimates, or projections contained in this EOI document or conduct ancillary
to it whether or not the Losses arise in connection with any ignorance, negligence,
inattention, casualness, disregard, omission, default, lack of care, immature information,
falsification or misrepresentation on the part of Mudra or any of its directors, officers,
employees, contractors, representatives, agents, or advisers.
All information contained in this Expression of Interest (EOI) is in good interest and faith.

This is not an agreement and is not an offer or invitation to enter into an agreement of any
kind with any party. Bidders should conduct their own investigation and analysis and
should check the accuracy, reliability and completeness of the information in this
Expression of Interest. Bidders should make their own independent investigation in relation
to any additional information that may be required.
The Mudra shall not be bound to give reasons for any decision made and its decision will
be final and binding on all the respondents to this EOI, the subsequent Proof of Concepts
(POC) and RFP, if any.
1.5 Costs to be borne by Respondents

All costs and expenses incurred by Respondents in any way associated with the
development, preparation, and submission of responses, including but not limited to the
attendance at meetings, discussions, demonstrations, etc. and providing any additional
information required by MUDRA, will be borne entirely and exclusively by the Recipient/
Respondent.
1.6 No Legal Relationship

No binding legal relationship will exist between any of the Respondents and MUDRA until
execution of a contractual agreement.
1.7 Recipient Obligation to Inform Itself

The Recipient must apply its own care and conduct its own investigation and analysis
regarding any information contained in the EOI document and the meaning and impact of
that information.
1.8 Evaluation of Offers

Each Recipient acknowledges and accepts that MUDRA may, in its sole and absolute
discretion, apply whatever criteria it deems appropriate in the selection of organizations,
not limited to those selection criteria set out in this EOI document. The issuance of EOI
document is merely an invitation to offer and must not be construed as any agreement or
contract or arrangement nor would it be construed as any investigation or review carried
out by a Recipient. The Recipient unconditionally acknowledges by submitting its response
to this EOI document that it has not relied on any idea, information, statement,
representation, or warranty given in this EOI document.
1.9 Acceptance of Shortlisting Process

Each Recipient / Respondent having responded to this EOI acknowledges to have read,
understood and accept the shortlist & evaluation process mentioned in this EOI document.
The Recipient / Respondent ceases to have any option to object against any of these
processes at any stage subsequent to submission of its responses to this EOI.
1.10 Errors and Omissions

Each Recipient should notify MUDRA of any error, fault, omission, or discrepancy found
in this EOI document but not later than twelve business days prior to the due date for
lodgment of Response to EOI.

1.11 Acceptance of Terms

Recipient will, by responding to MUDRA for EOI, be deemed to have accepted the terms
of this Introduction and Disclaimer.
1.12 Expression of Interest

Recipients are required to direct all communications related to this EOI, through the
Nominated Point of Contact details mentioned in Critical Information Page.
MUDRA may, in its absolute discretion, seek additional information or material from any
Respondents after the EOI closes and all such information and material provided will be
taken to form part of that Respondent’s response.
Respondents should provide details of their contact person, telephone, fax, email and full
address(s) to ensure that replies to EOI could be conveyed promptly.
If MUDRA, in its absolute discretion, deems that the originator of the question will gain an
advantage by a response to a question, then MUDRA reserves the right to communicate
such response to all Respondents.
MUDRA may, in its absolute discretion, engage in discussion with any Respondent (or
simultaneously with more than one Respondent) after the EOI closes to improve or clarify
any response.
1.13 Notification
MUDRA will notify all short-listed Respondents in writing or by email as soon as practicable
about the outcome of their EOI. MUDRA is not obliged to provide any reasons for any such
acceptance or rejection.

2. General Information and Submission of EOI

Response
2.1 Invitation for Expression of Interest
MUDRA invites 'Expression of Interest' (EOI) from experienced and reputed vendors for
an online Loan appraisal system for Pradhan Mantri MUDRA Yojana as detailed in the
scope of this EOI.
This EOI is an invitation only for expression of interest for implementation of the solution
in the Mudra & the EOI document is not a recommendation, offer or invitation to enter into
a contract, agreement or any other arrangement, in respect of the services.
2.2 Guidelines for submission of EOI

This document should not be construed as Tender / Request for Proposal (RFP) in any
form and would be non-binding on the Mudra in any manner whatsoever.
The EOI document is available for download from our Official Website, www.Mudra.in and
also uploaded in Central Public Procurement (CPP) Portal of Government of India under
the link http://eprocure.gov.in/cppp/
Sealed EOI are invited from the eligible bidders, which must be prepared in accordance
with the procedures stated in this EOI document and submitted to the CTO, MUDRA,
Mumbai, not later than the date and time as stated in the time schedule given in the Critical
Information section in the beginning of this EOI document.
The address of the Competent Authority to receive the bids is given below. A drop box is
provided to receive the bids. The EOI document is intended solely for the information of
the party to whom it is issued (“the Recipient” or “the Respondent” or “the Bidder”).
MD & CEO
Micro Units Development Refinance Agency Limited
First Floor, MSME Development Centre
Plot No. C-11, G Block, Bandra Kurla Complex
Bandra (E), Mumbai - 400 051
2.3 Bid Price

1. Non-refundable Bid Price of `1000/- (` One thousand only) by way of Banker’s
Cheque/ Demand Draft/ Pay Order drawn on a scheduled Mudra, favouring ‘Micro
Units Development & Refinance Agency Limited’ payable at Mumbai, must be
submitted along with EOI response.
2. Government organizations and companies registered with MSME are exempted from
submission of bid price.
3. The Mudra may, at its discretion, reject any Bidder where the application money has
not been furnished with the EOI response.
2.4 EOI Closing date

EOI Response should be received by MUDRA not later than the time mentioned in ‘Critical
Information’ section before, at MUDRA Office premises.
10 General Information and Submission of EOI Response | MUDRA

2.5 EOI Validity Period

The Bids must remain valid and open for evaluation according to their terms for a period
of 90 days from the date of the submission of bids.
2.6 Late EOI Policy

Responses received after the due date / time i.e. bid submission date/ time would be
considered late and may not be accepted or opened. Late received bids shall be returned
un-opened within 02 weeks from the bid submission date.
2.7 Receiving of EOI Response

The submission of the response should be in the format outlined in this EOI and should be
submitted only through hand delivery. If the submission to this EOI does not include all the
documents and information required or is incomplete or submission is through Fax mode,
the EOI is liable to be summarily rejected. All submissions, including any accompanying
documents, will become the property of MUDRA. The Recipient shall be deemed to have
licensed, and granted all rights to the Mudra to reproduce the whole or any portion of their
submission for the purpose of evaluation and to disclose and/or use the contents of the
submission as the basis for any resulting EOI process, notwithstanding any copyright or
other intellectual property right of the Recipient that may subsist in the submission or
accompanying documents.
2.8 Non-Disclosure
The bidder shall not, unless the Mudra has given permission in writing, disclose any part
or make use of any part or whole of this EOI document, any specification, plan, drawing,
pattern, sample or information furnished by the Mudra (including the users), in connection
therewith to any person other than a person employed by the bidder in the performance of
the proposal.
2.9 Prime Bidder

The bidder may bring solutions for some technical components from other OEM/s .
However, there must exist a formal arrangement between the OEM/s and the bidder for
update/upgrade and support of the components.
The Bidder will be identified as the Prime Bidder and will serve as the primary contact,
and take overall responsibility, including obtaining the support from OEM, wherever
required. The Bidder must fulfil Pre-Qualification Criteria in his own capacity.
2.10 Requests for information

1. Recipients are required to direct all communications for any clarification related to this
EOI, to the designated Mudra officials and must communicate the same in writing by
the time mentioned in ‘Critical Information’ section before. No query / clarification would
be entertained over phone.
2. All queries relating to the EOI, technical or otherwise, must be in writing only and may
be sent via email. The Mudra will try to reply, without any obligation in respect thereof,
every reasonable query raised by the Recipients in the manner specified.
However, the Mudra will not answer any communication reaching the Mudra later than
the time stipulated for the purpose.
3. The MUDRA may in its absolute discretion seek, but under no obligation to seek,
additional information or material from any Respondents after the EOI closes and all
MUDRA | General Information and Submission of EOI Response 11

such information and material provided must be taken to form part of that Respondent’s
response. Respondents should invariably provide details of their email address as
responses to queries will be provided to all Respondents via email.
4. The Mudra may in its sole and absolute discretion engage in discussion with any
Respondent (or simultaneously with more than one Respondent) after the EOI closes
to clarify any response.
2.11 Issue of Corrigendum

1. MUDRA will endeavor to provide timely response to all queries. However, MUDRA
makes no representation or warranty as to the completeness or accuracy of any
response made in good faith.
2. At any time prior to the last date for receipt of bids, MUDRA may, for any reason,
whether at its own initiative or in response to a clarification requested by a prospective
Bidder, modify the EOI Document by a corrigendum.
3. The Corrigendum (if any) will be posted on the www.Mudra.in and also under the link
http://eprocure.gov.in/cppp/ of CPP Portal, GOI.
4. Any such corrigendum shall be deemed to be incorporated into this EOI.
5. In order to afford prospective Bidders reasonable time in which to take the corrigendum
into account in preparing their bids, MUDRA may, at its discretion, extend the last date
for the receipt of EOI Bids.
2.12 Pre-Bid Meeting

1. The Mudra shall hold a pre-bid meeting on the date and time mentioned in ‘Critical
Information’ section above. Purpose of the meeting is to bring utmost clarity on the
scope of work and terms of the EOI being floated. The Bidders are expected to use
the platform to have all their queries answered. No query will be entertained after the
pre-bid meeting.
2. It would be the responsibility of the Bidders to be present at the venue of the meeting.
3. Clarification sought by bidder should be made in writing (Letter/E-mail etc) and
submitted on or before the date as indicated in the ‘Critical Information’ section. Mudra
has discretion to consider any other queries raised by the bidder’s representative
during the pre-bid meeting.
4. The text of the clarifications asked (without identifying the source of enquiry) and the
response given by the Mudra, together with amendment to the bidding document, if
any, will be posted on the MUDRA website (www.mudra.org.in) and Central Public
Procurement Portal (CPPP) within a reasonable time period of the pre-bid meeting. It
would be responsibility of the bidder to check the websites before final submission of
bids.
5. If MUDRA, in its absolute discretion, deems that the originator of the question will gain
an advantage by a response to a question, then MUDRA reserves the right to
communicate such response to all Respondents.
2.13 Disqualification
Any form of canvassing/ lobbying/ influence/ query regarding short listing, status etc. will
result in a disqualification.
2.14 Details to be submitted by the bidder

The Bidder must clearly mention in its bid response all the details of proposed
solution/software for implementation of requirements as per the scope of this EOI.
12 General Information and Submission of EOI Response | MUDRA

The Bidder should submit all the details as per enclosed format from Annexure I to
Annexure – VI and as mentioned in the checklist at the end of this EOI document.
All these documents along with DD for bid price should be put together in a sealed
envelope super-scribing “Bid for Implementation of Mudra Loan Application System – (EOI
No: 4508)” and Name of the bidder, Contact Name, Number and e-mail id.
2.15 Important Instructions

Bidders must take the following points into consideration during preparation and
submission of bids.
1. Authorised signatory must sign all the pages of the response.
2. Relevant documents must be submitted as proof wherever necessary. All the
pages must be sealed and signed by the authorized signatory of the respondent.
3. Faxed copies of any submission are not acceptable and will be rejected by the
Mudra.
4. Responses should be concise and to the point. Submission of irrelevant documents
must be avoided.
5. If the bids do not contain all the information required or is incomplete, the proposal
is liable to be rejected.
6. The EOI is floated on MUDRA website http://www.mudra.org.in and also on Central
Public Procurement Portal (CPPP). MUDRA reserves the right to change the dates
mentioned above. Changes and clarification, if any, related to EOI will be posted
on MUDRA website and CPPP. Bidders must have close watch on MUDRA
website and CPPP during the intervening period before submitting response to
EOI.
MUDRA | General Information and Submission of EOI Response 13

3. Background
As per NSSO survey (2013), there were 5.77 crore small/ micro units in the country, mostly
individual proprietorship / ‘Own Account Enterprises’ which employ around 12 crore
people. Over 60% of these units are owned by persons belonging to weaker sections of
the society, the scheduled castes, scheduled tribes, Other Backward Classes, minorities
and women. Majority of these units do not have access to the formal Mudraing system and
are forced to borrow from informal sources, or use their limited own funds. Micro Units
Development & Refinance Agency Limited (MUDRA) was incorporated under the
companies Act, 2013 and launched on April 08, 2015 by the Hon’ble Prime Minister as a
wholly owned subsidiary company of MUDRA, with NBFI registration from RBI.
MUDRA has been working towards bridging this gap. By creating a good architecture of
Last Mile Credit Delivery, MUDRA aims to increase the confidence of the aspiring but
unemployed youth of the country to become first generation entrepreneur as also of
existing small businesses to expand their activities.
The present authorised capital of MUDRA is at Rs. 5000 crore with a paid up capital of
Rs.1675.93 crore. MUDRA has contributed the entire capital of MUDRA. RBI has
allocated an amount of `20,000 crore from Priority Sector shortfall of Commercial Banks
for creating a Refinance Corpus Fund, as announced by the Hon’ble Finance Minister.
Pradhan Mantri Mudra Yojana (PMMY), a scheme to finance income generating small
business enterprises was also launched on 08 April 2015, along with the launch of
MUDRA, wherein all Banks are required to finance micro entrepreneurs engaged in
microenterprises of income generating activities with loan requirement up to Rs.10 lakh,
irrespective of whether they avail of refinance support from MUDRA. However, MUDRA
credit guarantee support is available to all eligible institutions under the Yojana. All
MUDRA loans issued on or after 8 April 2015 are eligible to be covered under the CGFMU,
notified on 18 April 2016.
Lending under MUDRA loans focuses on the unfunded segments of the Micro Enterprises
by granting the loans in the following 3 segments so that they can significantly contribute
to the nations GDP:
i) Loans upto Rs. 50,000 (Shishu)
ii) Loans above Rs. 50,001/- and upto Rs.5 lakh (Kishore)
iii) Loans above Rs. 5,00,001/-and upto Rs.10 lakh (Tarun)
The above 3 categories of MUDRA loans are based on the business life-cycle that the
loanee enterprise currently is in. These three categories signify the growth, development
and funding needs of the beneficiaries.
The business domain of MUDRA consists of income generating micro enterprises
engaged in manufacturing, trading and services sectors for loans up to `10 lakh. From
fiscal 2016–17 micro enterprises involved in activities allied to agriculture too have also
been brought within the ambit of PMMY loans. The overdraft amount of `5,000 sanctioned
under PMJDY is also treated as part of MUDRA loans under PMMY.
MUDRA supplements the efforts of the existing institutions by providing funding support
through refinance and securitization of loan assets, to extend financial assistance to
borrowers from micro enterprises.
Commercial Banks, Regional Rural Banks (RRBs), Cooperative Banks, NBFCs and MFIs
engaged in financing micro enterprises are eligible for refinance support from MUDRA.
14 Background | MUDRA
4. Process of Evaluation
Expression of Interest is obtained from the eligible bidders. On receiving the bids and
evaluation thereof Bidders will be asked to make presentation on their capabilities and
their proposal. Short-listed bidders would only be issued Request for Proposal (RFP)
inviting the technical and commercial bids at a later date. However, MUDRA reserves the
rights to issue an open RFP for all prospective bidders to participate.
4.1 Criteria for Shortlisting

The Criteria for short-listing would include:
a. Eligibility Criteria evaluation
b. EoI Assessment Criteria
4.1.1 Eligibility criteria

Proposals not complying with the ‘Eligibility criteria’ are liable to be rejected and will not be
considered for further evaluation. The proposal should adhere to the following minimum
eligibility criteria.
Srl. Criteria Documents to be submitted
No. as a proof/declaration
1. The Bidder should have been incorporated under Certificate of Incorporation /
Companies Act, 1956 or a partnership firm Registration certificate
registered under LLP Act, 2008 and subsequent
amendments thereto
2. The Bidder should have a minimum turnover of at Chartered Accountant (CA)
least INR 5 crores or equivalent per annum in at certificate and copies of last
least 2 years out of last 3 financial years as on the three years’ balance sheet
date of submission of Bid.
3. The Bidder should have made cash profit in at Chartered Accountant (CA)
least 2 years out of last 3 financial years. certificate and copies of last
three years’ balance sheet
4. The Bidder should have a minimum number of 25 Self declaration by authorized
full time professional staff engaged in related signatory of the Bidder
services
5. The Bidder should have an registered office in Registration certificate
India.
6. Bidder should not have been blacklisted by any Letter of undertaking to this
PSU / Govt. of India as on the date of submission effect on company’s letter head
of Bid. signed by company’s
authorized signatory.
7. The bidder should have presence with dedicated Letter of undertaking to this
teams/ support in Mumbai to be able to provide effect on company’s letter head
services to Mudra. signed by company’s
authorized signatory.
4.1.2 EoI Assessment Criteria

1. Bidders shortlisted out of Eligibility criteria evaluation mentioned above, would be
further assessed on parameters given below.
MUDRA | Process of Evaluation 15

Srl. Parameters Scoring Scheme / Max. Remarks

No. Parameters Marks
1 Experience of 5 marks will be 20
implementation of IT assigned for each
solution for retail loan implemented project
lending in BFSI
sector
implementation of assigned for each
portal solution for implemented project
lending in BFSI
sector
projects using implemented project
Artificial Intelligence
technology for
financial sector
4 Presentation on Bidder’s 8 Scoring would be
proposed solution understanding on based on the bid
project scope response submitted
Bidder’s ability to 6 and technical
provide crisp and presentation made
clear answers with by the bidder
strong content to
questions asked
Bidder’s knowledge 6
and experience to
deliver vis-à-vis scope
of the assignment
EoI Assessment Criteria 80
Score
2. Bidders will be required to furnish relevant documentary evidences to showcase their

experiences as mentioned in the above table. Scoring will be done accordingly.
3. Each eligible bidder, short listed out of eligibility evaluation shall make a presentation
on its proposed solution. A time period of 2 hours will be allowed to each bidder for
presentation and discussion at Mudra Office, Mumbai.
4. Bidders securing 75% marks (i.e. 75% * 80 = 60) out of the EoI Assessment Criteria
evaluation, would be shortlisted for issuing of RfP.
5. If less than 5 bidders qualify as per above criteria, MUDRA reserves the right to short
list maximum top 5 bidders subject to 70% marks (i.e. 70% * 80 = 56) out of the EoI
Assessment Criteria evaluation.
4.2 Evaluation process

1. MUDRA will constitute a Bid Evaluation Committee to evaluate the responses of the
bidders.
2. The Bid Evaluation Committee constituted by MUDRA shall evaluate the responses
to the EOI and all supporting documents and documentary evidence. Inability to
16 Process of Evaluation | MUDRA

submit requisite supporting documents or documentary evidence, may lead to

rejection of the EOI bid.
3. Each of the responses shall be evaluated to validate compliance of the bidders
according to the Eligibility and EoI Assessment criteria, mentioned above.
4. The decision of the Bid Evaluation Committee in the evaluation of responses to the
Expression of Interest shall be final. No correspondence will be entertained outside
the evaluation process of the Committee.
5. The Bid Evaluation Committee may ask for meetings with the bidders to evaluate its
suitability for the assignment.
6. The Bid Evaluation Committee reserves the right to reject any or all of the bids.
4.3 MUDRA Rights

1. MUDRA may, at its sole discretion, issue a Request for Proposal (RFP) which may
be extended only to those vendors shortlisted through the EOI Evaluation process.
However, for the purpose of any such subsequent RFP, MUDRA reserves the right
to float an open RFP and to amend the proposed requirements, eligibility criteria, the
description of services required or any other aspect of this EOI document. MUDRA
may also conclude the process without tendering or awarding any contract.
2. MUDRA may reject any or all bids and may or may not waive an immaterial deviation
or defect in a bid. MUDRA’s waiver of an immaterial deviation or defect shall in no
way modify the EOI document or excuse a vendor from full compliance with EOI
document specifications. MUDRA reserves the right to accept or reject any or all of
the items in the bid, to award the contract in whole or in part and / or negotiate any
or all items with individual vendors if it is deemed fit in the MUDRA’s best interest.
Moreover, MUDRA reserves the right to make no selection if bids are deemed to be
outside the fiscal constraint or against the best interest of MUDRA.
3. In addition to the right to reject any or all bids, in whole or in part, MUDRA also
reserves the right to issue similar EOI / RFPs in the future. This EOI is in no way an
agreement, obligation or contract and in no way is MUDRA responsible for any
bidders' cost of preparing the bid, including providing additional documentation or
participating in presentations, demos, Proof of Solution, interviews, if required.
MUDRA | Process of Evaluation 17

5. Project Scope
5.1 Project Objective
Pradhan Mantri Yojana is a nationwide scheme being implemented by various institutions
which includes Public Sector Banks, Private Sector Banks, NBFCs and MFIs. Total
number of Loan accounts under PMMY have crossed 15 Crore in December 2018. Around
90% of the MUDRA Beneficiaries Comes under Shishu Category. Shishu Borrowers
mostly includes people from lower strata of society who do not have basic documents to
help lenders to assess their repayment capability which make their appraisal difficult for
Bankers. Large number of Loan applications under PMMY also makes it difficult for
Bankers to process and appraise the loans which leads to poor credit decisions and
increase in Number of NPA.
Purpose of this project is to develop an online Loan appraisal system for PMMY which
includes everything from capturing of application to sanction of Loan. Online platform
should help Bankers to make sound credit decisions by the use of technologies such as
Artificial intelligence, Psychometry test, Lie detection etc.
5.2 Processes to sanction MUDRA Loan

Pradhan Mantri Mudra Yojana (PMMY), was launched on 08 April 2015, along with the
launch of MUDRA, wherein all banks are required to finance micro & small entrepreneurs
engaged in micro enterprises of income generating activities with loan requirement upto
Rs 10 lakh,
Lending under MUDRA loans will focus on the unfunded segments of the Micro Enterprises
by granting the loans in the following 3 segments so that they can significantly contribute
to the nation’s Gross Domestic Product (GDP):
1. Loans upto Rs 50,000 (Shishu)
2. Loans above Rs 50,000 and upto Rs 5 lakh (Kishor)
3. Loans above Rs 5,00,000 and upto Rs 10 lakh (Tarun)
Presently following processes are being used by different Banks for appraisal of PMMY
Loans with minor variations.
5.2.1 Customer approaching for loan

1. When a customer approaches for MUDRA loan, the Credit officer initially enquires
about the current business, business area, purpose, requirement of the loan etc.
2. Customer is enquired about his dealing or having accounts with any other Bank, if
he has applied there, reason for not considering his proposal by that Mudra etc.
3. After initial discussion, the customer is asked to submit the required documents as
per the checklist stipulated for Shishu, Kishore or Tarun loans along with the filled
up application form.
18 Project Scope | MUDRA

5.2.2 Pre – sanction procedure

1. A pre - sanction visit is carried out to the customer’s residence and shop. Enquiry is
carried out with the neighbours regarding his period of stay, activity, family members,
family background etc. Similar enquiry is made nearby the customer’s shop
regarding his existence, business, business hours, customer base etc.
2. A pre-sanction visit report is prepared by the relationship manager capturing all the
above details.
5.2.3 Sanction procedure

1. Detailed scrutiny of all the documents like application form, KYC, bills and other
related documents are being carried out.
2. Due diligence is carried out for checking the appearance of names of promoters/
directors/ Company/ group concerns in RBI defaulters’ list, Willful defaulters’ list,
Export Credit Guarantee Corporation of India caution list, CIBIL etc.. The reports are
thoroughly checked for any adverse observation / comments in the report, if any
found then the case is not considered.
3. Then appraisal of the proposal as per the format available with the Mudra is being
made in which name of the Account, branch, basic data, background of the firm,
name of partners / proprietor, existing Banking relationship of the applicant and their
family members, loans from other Banks / financial institutions, facilities enjoyed by
family members, assessment of working capital and term loan are captured.
4. For cases where sanction amount is more than `5 Lakh financial parameters like
Sales, Net Profit After Tax, depreciations, networth, unsecured loan, term loan,
current assets, current liability, net current assets, fixed assets, current ratio, Debt
Equity Ratio, profitability ration, Debt Service Coverage Ratio are captured during
the appraisal.
5. Then the Loan is sanctioned by the sanctioning authourity as per the Delegation of
Power.
6. A sanction letter is issued mentioning the detailed terms and conditions in which
detailed list of documents are mentioned required for documentation.
5.3 Functionalities Expected from Proposed System

MUDRA is looking for development of an online loan appraisal system for Pradhan Mantri
MUDRA Yojana (PMMY) with following functionalities.
1. Application should be available on Mobile / Tablet in addition through browser in
desktop / laptop.
2. System should be able to capture applications online. Borrowers should be able to login
online, Fill their details including project details, Loans amount needed, Preference of
Banks etc or upload duly filled application form. Provision is required to handle user
credentials for borrowers, Bankers, Mudra etc. Banks must be able to see the details of
applications and update status. In case of requirement Banker should have provision to
capture the application on behalf of the borrower.
MUDRA | Project Scope 19

3. E KYC : At the stage of submission of application, Borrower must be able to fill/upload

an Online KYC Form and upload its Signature, Photograph and other relevant
documents. System must allow uploading or attaching from digilocker of KYC
documents such as PAN CARD, Aadhar Card, Driving License, Ration Card etc.
4. Online interview : Banker must be able to schedule an online video interview and enter
the date and time in the system. Messaging system like Email, SMS, Whatsapp etc. will
be used to send messages to the registered id and number of the Borrower about the
scheduled interview. Borrower must be able to login in the system at the scheduled date
& time for the interview. Banker would ask some questions about the Background &
Proposed Business and fund utilization by the Borrower. System must record the
responses of the Borrower and analyze the responses by using Artificial Intelligence
technology of Psychometry, Lie detection, sentiment detection and other relevant
technologies to assist the banker in credit appraisal and credit decision. The technology
must support interview in multiple languages e.g. English, hindi and regional languages.
Video interview system will have geo, date, time tagging A report must be generated
based on these aspects.
5. Linkage with other platforms: System must be linked with relevant platforms such as
ITR Platform and capture relevant details of Borrower using his/her PAN Number. An
algorithm must also be developed to do the analysis of repayment capacity of Borrower
using its ITR. It must also be linked to CIBIL and credit Bureaus and an algorithm must
be developed so that system may be able to generate a report on credit history of
Borrower based on the information fetched from credit bureaus. It must also be linked
to the platforms like NSDL, GST, India Stack, Multi credit bureau for Profile/ data
checks.
6. Financial Statement analysis tool : System must have a Financial / Bank Statement
analysis tool for analysis of the financial/Bank Statements / spreadsheets of the
prospective Borrower, store the analysed data and generate a detailed report based on
analysed information / data.
7. Based on the above report Banker must be able to make a decision about the sanction
to the Borrower. Terms of Payment and Interest rate must be entered in system.
Borrower must enter his/her acceptance in system. These are only the basic
requirements. Vendors are requested to bring their own experience and suggest their
solution taking into account above inputs.
8. Adopt best practices followed by Fintech firms.
5.4 Infrastructure for Hosting the Solution

Bidder is required to propose complete infrastructure architecture including security on
cloud model to host the solution. All required components must be specifically mentioned
in its response.
20 Project Scope | MUDRA

6. Annexures
6.1 Annexure – I : Bid Covering Letter
(To be submitted on Bidder’s company letter head)
Date:
MD & CEO
Micro Units Development & Refinance Agency Limited
First Floor, SME Development Centre,
Plot No. C-11, G Block
Bandra Kurla Complex (BKC), Bandra (E)
Mumbai - 400 051
Dear Sir,
Implementation of PMMY online Loan appraisal system
(EOI No: 4508/07/01/2019)
We, the undersigned bidders, having read and examined the aforesaid EOI document in detail, do hereby propose
to extend the services as specified in the above mentioned Tender document and submit the following as per
requirement:
1. We agree to abide by all the terms and conditions stipulated by MUDRA in the EOI document including all the
Annexures.
2. We hereby acknowledge and unconditionally accept that the evaluation criteria, evaluation of the responses
to the EOI will be entirely at MUDRA's discretion. Mudra's decision will be final and that the Mudra would
entertain no further correspondence about the decision.
3. Bid Price: We have enclosed a Demand Draft/ Banker’s cheque of the sum of `1000/- (` one thousand only)
towards non-refundable bid price.
4. We acknowledge to submit all the information expected out of this EOI document.
5. We also acknowledge that the Expression of Interest submitted by us is valid for a period of 90 days from the
last date of bid submission.
We hereby declare that our bid is made in good faith, without collusion or fraud and the information contained in
the bid is true and correct to the best of our knowledge and belief.
We also undertake to have read, understood and accepted the terms and conditions specially those related to
evaluation and selection processes mentioned in the EOI. Having submitted our response to the aforesaid EOI, we also
understand not to have any option to raise any objection against any of the said processes defined in the EOI in any
future date. We understand that our bid response is binding on us and persons claiming through us and that you are
not bound to accept a bid you receive.
.
Thanking you,
Yours sincerely,
Date : Signature of Authorised Signatory :

Place : Name of the Authorised Signatory :
Designation :
Name of the Organisation :
Seal …
MUDRA | Annexures 21
6.2 Annexure – II : General Information about Bidder

Details of the Prime Bidder (Company)
1 Name of the Bidder (Prime)
2 Address of the Bidder
3 Status of the Company (Public Ltd/ Pvt. Ltd)
Date:
4 Details of Incorporation of the Company
Ref.#
Date:
5 Details of Commencement of Business
Ref.#
6 Valid Sales tax registration no.
7 Valid Service tax registration no.
8 Permanent Account Number (PAN)
9 Corporate Identification Number (CIN)
10 Mudra Mandate Status <tick appropriate>
Already submitted with MUDRA Being submitted herewith as per
format
Mudra account details as per Mudra mandate form :
Sr.No. Mudra Name and Branch Account type / number IFSC code
11 Name & Designation of the contact person to whom

all references shall be made regarding this tender
12 Telephone No. (with STD Code)
13 E-Mail of the contact person:
14 Fax No. (with STD Code)
15 Website
17 Financial Details (as per audited Balance Sheets) (in Cr)
15 Year 2015-16 2016-17 2017-18
17 Turn Over
18 Profit After Tax (PAT)
Date : Signature of Authorised Signatory :

Place : Name of the Authorised Signatory :
Designation :
Name of the Organisation :
Seal …
22 Annexures | MUDRA
6.3 Annexure – III : Response to the Eligibility Criteria
Srl. Criteria Documents to be Bidder's Attachment

No. submitted as a Compliance Tag$$
proof/declaration
1. The Bidder should have been Certificate of
incorporated under Companies Incorporation /
Act, 1956 or a partnership firm Registration
registered under LLP Act, 2008 certificate
and subsequent amendments
thereto
2. The Bidder should have a Chartered
minimum turnover of at least INR Accountant (CA)
5 crores or equivalent per annum certificate and
in at least 2 years out of last 3 copies of last three
financial years as on the date of years’ balance
submission of Bid. sheet
3. The Bidder should have made Chartered
cash profit in at least 2 years out Accountant (CA)
of last 3 financial years. certificate and
copies of last three
years’ balance
sheet
4. The Bidder should have a Self declaration by
minimum number of 25 full time authorized
professional staff engaged in signatory of the
related services Bidder
5. The Bidder should have Registration
registered office in India. certificate
6. Bidder should not have been Letter of
blacklisted by any PSU / Govt. of undertaking to this
India as on the date of effect on
submission of Bid. company’s letter
head signed by
company’s
authorized
signatory.
7. The bidder should have presence Letter of
with dedicated teams/ support in undertaking to this
Mumbai to be able to provide effect on
services to Mudra. company’s letter
head signed by
company’s
authorized
signatory.
Signature of Authorised Signatory

Seal of the Organisation
6.4 Annexure – IV : Response for EoI Assessment and Other

Details
(EOI No: 4508/07/01/2019)
We furnish herewith the experience details as follows :
Srl. Parameters Scoring Scheme / Remarks / Attachments

No. Parameters
1 Experience of 5 marks will be
solution for retail loan implemented project
lending in BFSI
sector
implementation of assigned for each
portal solution for implemented project
lending in BFSI
sector
projects using implemented project
Artificial Intelligence
technology for
financial sector
We also submit details of proposed solution for PMMY Online Loan Appraisal System.
Sl. No. Details of proposed PMMY Online Loan appraisal

system
1
2
3
……
We submit the Bid with components appropriate to the requirements as stated under :
1. Detailed response on the proposed solution why it is best fit to the requirement mentioned
in the Scope
2. Additional suggestions and functionalities.
3. The issues, challenges and risk mitigation that the bidder visualizes in the proposed
implementation are furnished herewith.
4. We also state the Infrastructure architecture, licensing policy and requirement of other
software (e.g. RDBMS, web server, application server etc) also.
Note : Also, bidder is free to add any additional information in this annexure.
Signature of Authorised Signatory

Seal of the Organisation
$$
Documents submitted with response bid towards proof of evidence must be suitably tagged for easy
identification during evaluation.
End of EOI Document

MUDRA Loan Appraisal System: Expression of Interest (EOI)

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Micro Units Development & Refinance Agency Limited

Expression of Interest (EOI)

MUDRA Loan Appraisal System

(निविदा सं. 4508 ददिांक जििरी 07/01/2019)

This page has been left blank intentionally.

2 Introduction and Disclaimers | MUDRA

MUDRA | Introduction and Disclaimers 3

4 Introduction and Disclaimers | MUDRA

MUDRA | Introduction and Disclaimers 5

Critical Information/ महत्िपूर्ण सूचिा

SNo. Events / कार्णक्रम Date/ निथि Time/

6 Date & Time of Opening of Minimum January 28, 2019 , 5:00 PM

Asish Topdar, CTO

6 Introduction and Disclaimers | MUDRA

1. Introduction and Disclaimers

1.2 Information Provided

1.3 For Respondent only

MUDRA | Introduction and Disclaimers 7

1.5 Costs to be borne by Respondents

1.6 No Legal Relationship

1.7 Recipient Obligation to Inform Itself

1.8 Evaluation of Offers

1.9 Acceptance of Shortlisting Process

1.10 Errors and Omissions

8 Introduction and Disclaimers | MUDRA

1.11 Acceptance of Terms

1.12 Expression of Interest

MUDRA | Introduction and Disclaimers 9

2. General Information and Submission of EOI

2.2 Guidelines for submission of EOI

2.3 Bid Price

2.4 EOI Closing date

10 General Information and Submission of EOI Response | MUDRA

2.5 EOI Validity Period

2.6 Late EOI Policy

2.7 Receiving of EOI Response

2.9 Prime Bidder

2.10 Requests for information

MUDRA | General Information and Submission of EOI Response 11

2.11 Issue of Corrigendum

2.12 Pre-Bid Meeting

2.14 Details to be submitted by the bidder

12 General Information and Submission of EOI Response | MUDRA

2.15 Important Instructions

MUDRA | General Information and Submission of EOI Response 13

4.1 Criteria for Shortlisting

4.1.1 Eligibility criteria

4.1.2 EoI Assessment Criteria

MUDRA | Process of Evaluation 15

Srl. Parameters Scoring Scheme / Max. Remarks

2. Bidders will be required to furnish relevant documentary evidences to showcase their

4.2 Evaluation process

16 Process of Evaluation | MUDRA

submit requisite supporting documents or documentary evidence, may lead to

4.3 MUDRA Rights

MUDRA | Process of Evaluation 17

5.2 Processes to sanction MUDRA Loan

5.2.1 Customer approaching for loan

18 Project Scope | MUDRA

5.2.2 Pre – sanction procedure

5.2.3 Sanction procedure

5.3 Functionalities Expected from Proposed System

MUDRA | Project Scope 19