response to ngta rfp queries...si. no. rfp section number rfp page number rfp point number existing...

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point

NumberExisting Clause Query Description Query Response

1 Annexure 272 TMS

Experience

Annexure F: Technical Bid

(Implementation Experience)

Does SI and OEM both need to showcase the

certificate ? If yes, we request bank to modify this

Annexure and allow either SI or OEM to submit the

credentials. Bidder has submitted the credential

during EOI stage as well

As per RFP, both the SI and OEM

have to share the requisite

certificate. Confidentiality of the

information shall be maintained by

RBI.

2 Annexure 274 TMS

Experience

Annexure G: Supporting

Documents (Implementation

Experience)

1. We request bank to allow to share the self

certification for the annexure on Bidder's letterhead

supported with PO/Completion

certificate/Reference letter from client

2. We request bank to modify this Annexure and

allow either SI or OEM to submit the credentials.

Bidder has submitted the credential during EOI

stage as well

As at Sl. No. 1.

3 3.3

Technical

Requireme

nts

191 TC 36 Bidder has to provide Bill of

Materials (BoM) of all the hardware

/ software required for the NGTA

with details including any network

components or equipment etc.

For the network components, do we need to tell the

required ports count only or we have to provide the

number of switches required. We understand that

only the requirement for the connectivity of the

servers need to be mentioned. Please confirm.

Bidder to provide the number of

port details required for each

server/ instances.

Response to NGTA RFP Queries

SI.

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4 4 233 4 4. Sizing of hardware with

scalability with details of complete

hardware footprint required,

parameters that are used for

scaling, nature of redundancy of

the component, limiting factors for

scaling the system. Sizing should

be mentioned in the format as

mentioned in Annexure H.

Annexure H, does not have any table for network

components requirements. Please provide the

format for network.

Refer Sl. No. 3.Bidder to provide

connectivity details along with the

port requirements including the

interface that would be configured

on each port.

5 2 33 2.14 The Bank will conduct VAPT which

will provide vulnerability ratings

(preferably) based on industry

standards as defined by Forum of

Incident Response and Security

Teams (FIRST) Common

Vulnerability Scoring System

(CVSS) and Massachusetts

Institute of Technology Research

Establishment (MITRE) Common

Weakness Enumeration (CWE).

Third party testing, third party audit

(application, data and process) and

vulnerability assessment and

penetration testing (VAPT) will be

carried out by the Bank before

going Live. The Vendor shall make

necessary arrangements

We assume that bidder has to show evidence of

scan for VAPT and provide self certification.

Please confirm

In addition to the VAPT conducted

by the Vendor and requisite report

submission, the Bank will also

conduct the VAPT (or get the same

conducted) once the application is

deployed. The Vendor shall be

required to provide support to

make the environment ready for the

testing as well as close the

vulnerabilities identified in the

VAPT conducted by the Bank (or

got the same conducted).

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6 2 38 2.22 It would be mandatory for the

Vendor to provide Warranty for 3

years for the solution. The

Warranty period of three (3) years

would commence from the date of

issue of Completion Certificate

Warranties pertaining to Software and Applications

starts post deployment of licenses in the

production. We assume bidder need to provide

ATS only during 3 years of warranty period. Please

confirm

Warranty starts from the date of

completion certificate. ATS

requirements are given in RFP for

Warranty and AMC period.

7 Annexure

K

287-288 Clause 6.1 We understand that the Purchase Agreement is to

be signed by SI and the Bank, therefore should the

relevant items relating to PBG and the purchase

agreement be applicable to the SI only?

Agreement will be signed between

the Bank (RBI) and the Prime

Bidder.

8 Annexure

Q

303-304 Escrow Does "Escrow Material" refers to the source code

of OEM core Software, or only the customizations

that are made per the Bank's request under this

project?

The Escrow Material consists of

source code as well as

customization carried out for the

Bank.

9 Annexure

W

325-326 MAF/DAF 1. The MAF form has been submitted during the

EOI stage, do we need to re-submit the same

again?

2. By signing this MAF form, does it indicate that all

contracts relating to OEM products/services will be

signed between the Bank and the SI, and OEM is

to enter into a separate contract with the SI?

MAF has to be submitted along

with RFP response. Agreement will

be signed between Prime Bidder

and the Bank.

10 3 TC-36 Technical

Requireme

nts

Bidder has to provide Bill of





Please confirm if Hardware to be supplied as part

of this Proposal / Bid

BOM/Hardware Sizing for the

complete hardware foot print

required for the total solution has to

be submitted. However, the

procurement of the same will be

carried out by the Bank.

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11 3 Across all

Functional

and

Technical

sections

if there are gaps in the requirements that can not

be fulfilled / Not supported , we are assuming that

those line items will be out of scope of our Bid /

Proposal. Please confirm if this is acceptable.

The bidders are required to

provide, develop, customise the

product and make it compliant with

all the RFP requirements.

SI.

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12 3.3

Technical

Requireme

nts

193 TC-69 &&

TC-70

NGTA should be integrated with

the following systems:

- Trading Platforms (Bloomberg,

Refinitiv (Thomson Reuters),

Tradeweb, etc.)

- Market Data Providers

- SWIFT messaging system

- Core Banking System of RBI

- Clearing Corporation of India

Limited (CCIL) – FX Clear

- Centralized Information

Management System (CIMS)

- Security Information and Event

Management (SIEM)

- Business Intelligence (BI)

- ACUMER Portal

- External Holiday Calendar

- Active Directory / LDAP

- Privilege and Identity

Management (PIM)

- Single Sign on

- Database Activity Monitoring

(DAM)

- Notification Channels like SMS, e-

mail, Fax

- Operation Support System

- Business Support System

- Any other systems/ modules (if

required by the Bank)

For technical solutioning and commercial

estimation purpose, please help us with -

A. Total number of interfaces / integration touch

points.

B. Total number of message formats.

C. Maximum payload size.

D. Maximum (Transaction Per Second) TPS

expected.

E. Maximum turn around time for a response.

Interface requirements are

provided in the RFP. These are

standard interfaces. The Bank will

like to have API based connectivity

rather than file based connectivity.

For information regarding number

of transactions kindly refer to the

discussions held in pre-bid meeting

on August 06, 2021.

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13 3.3

Technical

Requireme

nts

194 TC-72 The application should always

maintain the interface and

connectivity status and send alerts

/ alarms whenever connectivity

fails.

Is it expected to have alerts/alarms mechanism

available with proposed platform, or bidder to

suggest solution?

Bidder can propose the solution as

per their system requirements

within the scope of the RFP.

14 3.3

Technical

Requireme

nts

194 TC-73 In the event of connectivity failure

between NGTA and other systems,

then the data which needs to be

received / sent from / to other

application shall be flagged and

secured. NGTA shall attempt to

deliver flagged and secured data

as well as pull the required data

from other application once

connectivity is restored.

Is it expected to have mentioned

mechanism/capability available with proposed

platform, or bidder to suggest solution?

Functionality is required by the

Bank. Solutioning can be proposed

by the Bidder if it is available in the

platform or separate solution is

required. But it should be within the

scope of RFP.

15 3.3

Technical

Requireme

nts

194 TC-77 All applicable interfaces /

integrations shall be automated

with no

manual intervention.

What kind of automation is expected? As per RFP.

16 3.3

Technical

Requireme

nts

195 TC-80 Straight-through-processing (STP)

processing for all the required

interfaces should be supported.

What is the total number of integrations for STP

use cases?

As per RFP.

17 3.3

Technical

Requireme

nts

195 TC-81 The Vendor should provide support

for integration of Application with

security systems such as Security

Information and Event

Management (SIEM) and Database

Activity Monitoring (DAM).

What will be total number of integrations for SIEM

and DAM use cases?

It will be within a normal range

required for a standard Application.

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18 2.25

Minimum

Qualificatio

ns and

Experience

for key

Resources

41 NA General Please help with expected location and deployment

model (onsite or off-shore).

As per RFP.

19 2.33

License

49 NA General We understand the licenses for hosting platform,

system software and tools will be provided,

provisioned and managed by RBI and need not be

factored by the bidder in the commercial. Please

confirm

Bank has provided the details

regarding the infrastructure

available as part of the RFP. Any

other component required for the

solution will have to be factored by

the bidder and included as part of

commercials.

20 2.33

License

49 NA General We understand that the target sizing of all the

environments shall be provided by the bidder

,however procurement, provisioning and support

of those infrastructure will be done by RBI.Please

confirm

Bank will provide the infrastructure

mentioned in the RFP. Bidder is

expected to carry out basic

monitoring of the infrastructure

provided by the Bank.

Any other Infrastructure which is

not part of the RFP and required for

solution to work has to be provided

by the Vendor. Complete

responsiblity of installation,

monitoring and maitenance of this

infrastructure will be responsiblity

of the Bidder.

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21 2 49 2.32 Virtualization and Private Cloud

platform VMware ESXi, vCentre

and vRealize automation as

Centralized Management and

orchestration. Alternate platform

other than Private cloud are • AIX

on IBM Power 9 • RHEL Linux on

IBM Mainframe z14

Bidder understand is that Bank provides all listed

platform types, can factor entire solution aligning to

these 3 platforms OR limited to x86. Kindly clarify.

Platform details mentioned in the

RFP is acceptable to the Bank.

Bidder can accordingly propose the

solution.

22 3.3 192 T-47 System Software: Supported OS-

Red Hat Linux / Microsoft

Windows, Oracle WebLogic as

Application Server and Oracle

Database is preferred database

platform.

Bidder are also allowed to propose other than

Oracle DB OR its must to align Oracle. Kindly

clarify.

The Bank has enterprise Oracle

license and will prefer Oracle

database. Otherwise, in case

Bidder wants to propose any other

database then license cost of that

database will be included in TCO.

Maintenance responsibility of that

database shall rest with the Bidder.

23 3.3 193 Infrastructure and support to be

provided by the Bank:

Bidder understand is that, bank will own end-end

Infra support such as initial deployment, day to day

maintenance of all systems, DB instance. Bidder

ownership limited to HW sizing, deployment

architecture recommendation. Kindly clarify.

As at Sl. No. 20.

24 3.3 196 TC-96 Bidder’s proposal must clearly

state the sizing requirements and

the scalability of the proposed

hardware for 120 concurrent users.

Total number and type of servers

(RACK Mountable / Blade Servers),

their make, model, and desired

specifications have to be clearly

stated by the Bidder.

Since hardware provided by bank, is bidder still

have to recommend hardware type, OEM, Model.

Kindly clarify.




be submitted.

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25 3.3 198 TC-111 All the underlying infrastructure

components such as Operating

Systems, Servers (Web,

Application, DB) or any other

products should be hardened (to

the highest level) on each of the

environments before being made

functional by removing all

vulnerabilities.

Since infra support provided by bank, we

understand that this point is out of scope for bidder.

Kindly provide more detailed information on this

point.

As at Sl. No. 20.

26 2 39 2.23-i Monitoring application and

underlying infrastructure

Since infra support provided by bank, is bidder

scope limited to application monitoring. Kindly

provide more detailed info of this point.

As at Sl. No. 20.

27 2 2.36-1 Infrastructure Level Scalability:

Provision for addition of new

computing resources in existing

setup to cope up with the increased

demands in future.

Bidder understood is that, infra has to be sized in

such a way to cope up future demands. But need

the growth rate and number of years to consider in

sizing proposal.

Bank does not expect transaction

growth rate to be substantial. Kindly

refer to the discussions of the pre-

bid meeting held on August 06,

2021.

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28 2 56 2.40-3 Vendor is required to give all sorts

of support required in case the

Bank decides to move the

implemented NGTA on cloud

services or Infrastructure as a

Service (IaaS) in future. This

support will include everything

starting from shutting of the running

NGTA temporarily to alternate

arrangement till all the Hardware

and Software etc. are installed and

made running in the new IaaS or

Cloud environment (Logistics,

Technical, Integration support etc.)

The effort, cost and modalities for

this migration shall be mutually

decided between the Bank and the

Vendor

Support is limited to application and not the

Infrastructure, kindly clarify.

As at Sl. No. 20.

29 3.3 191 TC-37 Proposed NGTA infrastructure

(hardware/software) shall be

compatible with existing hardware

at RBI. RBI will procure the

relevant and applicable hardware

and software required for NGTA.

Bidder want to know details about the existing

hardware to propose right type. Kindly provide

required info.

As per RFP.

30 3.3 191 TC-39 The infrastructure proposed for

NGTA should be conforming to the

business defined latency

requirements of the Bank.

Bidder want to know more details with respect to

latency in the point. Kindly clarify.

As per RFP.

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31 3.3 191 TC-40 NGTA application should provide a

Recovery Point Objective (RPO) of

not more than 5 minutes and

Recovery Time Objective (RTO) of

2 hours.

Is the given RPO and RTO has to be followed OR

bidder can recommend their own which is preferred

to the solution. Kindly clarify.

As per RFP or a higher

performance in this regard.

32 3.3 191 TC-41 Bidder shall provide the storage

and archival capacity space

requirements. This should be in

line with the expected year on year

increase of the usage of the

application.

Capacity proposal for how many years, kindly

provide details about breakup of backup for how

many years and archival for how many years.

Capacity proposal shall be for the

entire duration of the contract.

33 2 39 2.23 Support for BCP DR planning and

execution

Bidder has to propose the BCP plan for solution

and support, bank owns the deployment,

configuration with respect to Infrastructure. Kindly

clarify.

Yes

34 6 232 6.4-3 Business Continuity Plan - Data

replication between two instances

and data replication between DC-

DR. In case of failure the

switchover will be automatic or

manual intervention will be

required. What is the RTO and

RPO proposed by the Bidder?

Incase bidder recommend automatic switchover,

does bank has the required tool implemented at

existing DR setup, kindly provide more details on

this.

Details of infrastructure are as per

RFP. As mentioned in the RFP, any

additional requirement for solution

operation has to be included by the

bidder and will be included for TCO

calculation.

35 3.3 189 TC-19 Production instances at PDC, ODC

and DRDC shall be all of 100

percent sizing. UAT and

Development shall be of minimum

configuration as required

Bidder want to know, more details of ODC and its

deployment purpose. Kindly provide more info

about each site purpose.

As per RFP.

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36 2.13 31 5 Following instances of NGTA shall

be deployed. 1) Primary Data

centre (PDC- 2 instances) 2)

Secondary Data Centre (ODC-2

instances) 3) Disaster Recovery

Data Centre (DRDC -2 instances)

4) UAT (5 Instances) 5)

Development (2 Instances) The

above instances will be based out

of Navi Mumbai and Nagpur. There

may be change in number and

location of instances based on the

Bank’s discretion.

Bidder want to know more info regards to instance

numbers. Kindly clarify.

As per RFP.

37 General Kindly provide detailed info about Infra, platform,

DB support expected from bidder across the

project period.

As per RFP.

38 General Kindly provide detailed info about hardware sizing,

recommendation expected from bidder.

Bidder has to provide complete

hardware footprint required for the

solution to work as per RFP.

39 General Kindly provide details about the existing Infra

management tools which bank deployed for

operations.

As per RFP.

40 General Kindly provide more details with regards to

Software EULA with bank.

As per RFP.

41 General Kindly provide more info regards Infra deployment

ownership and limits of bidders.

As at Sl. No. 34.

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42 Annexure

F

273 Technical Bid (Implementation

Experience)

Period of Warranty, Volume of transactions

handled on day-to- day basis in implementation

Total number of concurrent users(confidential info) -

can we share the name , key contact person ,

period of installation. Other info is confidential as

part of agreement

As per RFP.

43 Training 35 Training Training Query related to number of users to whom training

has to be provided and location of training.

As mentioned in RFP there are 150

total users to whom suitable

training is to be imparted. Training

will be conducted within the Bank's

premises and its Data Centres.

44 3.4 103 Non-

Functional

Requireme

nts

NF-124

Training should at least cover

following areas:

Customization development

Please further elaborate the scope of training for

Customization development.

Standard and comprehensive

training on all customizations,

customized modules, configuration

handling, making minor changes

etc.

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45 NA NA NA NA Please share the list of tools currently used for

testing at RBI:

1. ETL Testing

2. ETL/Database testing

3. Functional Testing

4. Regression Testing

5. API testing

6. Test Management

7. Defect Management

8. Test Automation

9. Performance Testing

10. Test Reporting and Analytics

11. Mobile Automation

12. Test Data Management (used for data

masking, sub setting and synthetic data

generation)

Vendor to submit the list as part of

the proposal.

46 NA NA NA NA Pls confirm if the bidder needs to factor licenses

cost as well along with the implementation cost and

mention the tenure for which licenses will be

required.

As per the RFP, the Bank requires

Enterprise Perpetual license.

Commercial bid template has

separate line item for License cost.

47 NA NA NA NA Is it fair to assume that only web based

applications and systems with web based

interface/frontend will be covered in scope of this

RFP?

It is assumed that all web applications listed in the

scope above will accessible via APIs. Pls confirm

Yes. All applications will be

accessible via APIs.

48 NA NA NA NA How many cycles need to be executed before final

signoff as applicable to functional testing and

performance testing?

This will depend on nature and

number of bugs observed.

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49 NA NA NA NA How many number of release expected per year?

Does the performance/functional testing need to be

conducted

on each new release?

The Bank expects the system to be

bug free and updated with latest

functionalities. Onus of testing for

each release holistically and

successfully rests with the Vendor.

50 NA NA NA NA How many test cycles/phases would need to be

considered per release ?

Bidder to propose the same.

51 NA NA NA NA Are there any performance challenges which needs

to be focused during performance testing? If yes,

please describe them in brief

As per RFP.Details of the

scenarios to be tested will be

elaborated during testing phase.

52 NA NA NA NA Are there any current performance metrics

available for systems?

As per RFP.

53 NA NA NA NA Do we need to consider web-services performance

testing as well separately?

Yes.

54 NA NA NA NA What is the proposed database technology stack of

the application?

As per RFP.

55 NA NA NA NA Are there any Bigdata testing in scope of the RFP?

If yes what are the different bigdata technology in

the landscape?

Integration with CIMS, the Bank's

big data platform is part of the

scope. Testing of seamless data

flow between NGTA and CIMS

platform shall be carried out.

56 NA NA NA NA Are there any BI report that needs to be tested as a

part of this RFP? If yes

How many reports/dashboards are in scope?

What is the report/dashboard complexity?

What is the reporting tool used?

As per RFP.

57 NA NA NA NA Can we propose any accelerator or COTS tool for

automated ETL/database testing?

Bidder can propose the same.

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58 NA NA NA NA Will test data currently used for testing the

incumbent be provided?

Bidder to propose the test data,

final choice shall be made by the

Bank.

59 NA NA NA NA What is the existing test data management

processes & top challenges in the customer

application landscape?

Bidder to propose their own

methodology and landscape.

60 NA NA NA NA Do we have any centralized test data team who

manages data at enterprise level ? If yes, What is

the current team size ?

This scope of this information is not

relevant at this stage.

61 NA NA NA NA What are the databases types (like MS SQL,

Oracle etc)used in current landscape?

Kindly refer to the RFP.

62 NA NA NA NA What's the existing frequency of data refresh

across QA/test environments?

This shall depend on the

requirement of the Bank.

63 NA NA NA NA What % of total no. of database elements need to

be considered for data masking?

Bidder to suggest based on

previous treasury implementation.

64 NA NA NA NA Is mobile application testing in scope and other

queries related to Mobile application

Mobile application testing is not in

scope.

65 NA NA NA NA Are the application servers (QA environment

servers) currently opened to internet ? ( can we test

the application from outside your network)

Access to RBI datacentres is not

permissible from outside network.

66 NA NA NA NA Are we leveraging any cloud based device farms

for the manual and automation testing ? If so can

you please share the tool name ?

Cloud based components are not

considered.

67 NA NA NA NA All Queries pertaining to mobile development,

testing, platform etc.

As per EOI query response

published on 22nd Oct 2020 Mobile

application is not part of the scope.

68 NA NA NA NA Pls provide details on the current governance

model

The current governance model

suits the Bank's requirements.

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69 NA NA NA NA Pls provide details on the current SLAs. What are

the SLAs to be monitored post go live for

performance testing

As per RFP.

70 NA NA NA NA What are the total number of functional test cases

to be prepared and executed during the

engagement?

Bidder to propose the same. Final

say shall be of the Bank.

71 NA NA NA NA What is the complexity segregation that can be

considered for the test cases

(Simple/Medium/Complex) in %?



72 NA NA NA NA What are the number of regression test cases and

what % of them need to be automated?



73 NA NA NA NA What are the total number of APIs and

webservices in scope of Testing?


74 NA NA NA NA What are the number of Service Virtualization

stubs to be developed considering integration with

internal or external systems


75 NA NA NA NA How many critical Test Scenarios/business flows

are there in scope for performance testing? And

how many of them are API scenarios

and how many UI scenarios?



76 2.3 48 NA NA How many concurrent users will be accessing

these applications? Pls provide a range with max

concurrent user details

As per RFP.

77 NA NA NA NA Do you already have a regression pack of ETL &

Database test case: If yes what is the total test

case count?

The Bank does not have test

cases. Bidder to propose the

regression testing test cases. Third

party data migration audit and

testing teams will also propose

some test cases.

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78 NA NA NA NA What is the test data complexity segregation that

can be considered? (Low/Medium/High) in %?

Vendor can refer the requirements

to create the relevant test cases

and map it according to the

complexity level based on the

capability of application.

79 NA NA NA NA What is the total number of NON-PROD

environments where data needs to be refreshed

from PROD?

As per RFP.

80 NA NA NA NA What is the total regression test case count for

which Test data provisioning is required?


81 NA NA NA NA Queries related to SaaS applications, testing,

integration, upgrades etc.

No component of the solution will

be allowed on the cloud. Entire

solution has to be deployed at RBI

data centres. List of integrations

are as per RFP

82 NA NA NA NA Is it possible to provide the test case ranges for

Low , Medium and High complexity projects



83 NA NA NA NA Assuming only English language testing is in

scope. Please confirm

Hindi language is also in scope.

Please refer 3.1.14 section of RFP.

84 NA NA NA NA As part of UAT, we are assuming only UAT support

to the business users during their testing. Please

confirm

UAT will be carried out by users

and also by a third party. Kindly

refer to Clause 2.14, para 9 of the

RFP. Support is required for the

entire UAT phase.

85 2.38 54 NA NA Please provide more details on Third-party testing As per RFP.

86 RE-49 to

55

125 Reporting/

MIS/

Dashboard

NA What is the Total Number of reports to be

developed?

Please refer 3.1.14 section of RFP

for further details.

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87 Go live 36 2.19 In case of the Go-Live delays by

the Vendor, financial Penalty as

per the Bank’s discretion will be

imposed on the Vendor at 5% of

the total contract value per month

of delay, subject to maximum of

10% of the total contract value as

per the agreement between the

Bank and the Vendor. The penalty

amount as determined by the Bank

shall be recovered from the next

milestone payment/ Bank

Guarantee.

In case of the Go-Live delays by the Vendor,

financial Penalty as per the Bank’s discretion will

be imposed on the Vendor at 5% 1% of the total

contract value per month of delay, subject to

maximum of 10% 3% of the total contract value

as per the agreement between the Bank and the

Vendor. The penalty amount as determined by the

Bank shall be recovered from the next milestone

payment/ Bank Guarantee.

As per RFP.

88 Warranty 37 2.22 If any defect in the System is not

rectified by the Vendor before the

end of the Warranty Period, the

Warranty Period shall deemed to

be extended until:

- the defect/s are rectified; and

- the System operates in

accordance with the Contract and

to satisfaction of the Bank

If any defect in the System is not rectified by the

Vendor before the end of the Warranty Period, the

Warranty Period shall deemed to be extended until:

- the defect/s are rectified; and

- the System operates in accordance with the

Contract and to satisfaction of the Bank

As per RFP.

89 System

Support

39 2.23 System Management, which

covers but is not limited to the

below activities

System Management, which covers but is not

limited to the below activities

As per RFP.

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90 Payment

terms

218 4 Payment Milestones

1.Milestones - License Cost

Payment - 50% of the License

Cost indicated in Item 1 of

Annexure U shall be payable

immediately on deployment in UAT

testing phase. Remaining 50% of

License cost shall be paid after

receipt of Completion Certificate

from the Bank.

2.Milestones - Completion of

process and system study, SRS,

Design and Build and Deployment

in UAT

Payment - 15% of Implementation

Cost specified at Item 2 of

Annexure U

3.Milestones - Data Migration,

Completion of User Acceptance

Testing, Creation of training

content, Train the Trainer and

customer education content



Annexure U

4.Milestones - Complete

Implementation and “Production

Go-live” of the project



Payment Milestones

1.Milestones - License Cost

Payment - 50% 80% of the License Cost

indicated in Item 1 of Annexure U shall be payable

immediately on deployment in UAT testing phase.

Remaining 50% 20% of License cost shall be paid

after receipt of Completion Certificate from the

Bank.

2.Milestones - Completion of process and system

study, SRS, Design and Build and Deployment in

UAT

Payment - 15% 30% of Implementation Cost

specified at Item 2 of Annexure U

3.Milestones - Data Migration, Completion of User

Acceptance Testing, Creation of training content,

Train the Trainer and customer education content



4.Milestones - Complete Implementation and

“Production Go-live” of the project



5.Milestones - Receipt of Completion Certificate

from the Bank(post 90 days of achieving

production Go Live)



6.Milestones - Warranty, AMC, Onsite Support

and Continuous Development

Payment - Year wise payment for each item at

As per RFP.

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91 Warranty

pay-outs

219 4.3 The annual amount payable

towards Warranty shall be paid at

the end of every year following

successful implementation of the

application and delivery of services

to the satisfaction of the Bank.

The annual amount payable towards Warranty

shall be paid at the end of every year following

successful implementation of the application and

delivery of services to the satisfaction of the Bank.

As per RFP.

92 AMC / ATS

pay-outs

219 4.4 The annual amount payable

towards AMC / ATS would be paid

at the end of every year following

successful implementation of the

application and delivery of services

to the satisfaction of the Bank

The annual amount payable towards AMC / ATS

would be paid at the end of every year following

successful implementation of the application and

delivery of services to the satisfaction of the Bank

As per RFP.

93 Other

Payment

terms

221 4.6 (a) The Bidders should note that the

contract entered with the

Successful Bidder will be for

implementation and post go‐live

period of seven years (three years’

warranty and four years AMC / ATS

support), extendable at the Bank’s

discretion. The Bank will have the

right, in its sole discretion to

renegotiate the prices/ terms and

conditions.

The Bidders should note that the contract entered

with the Successful Bidder will be for

implementation and post go‐live period of seven

years (three years’ warranty and four years AMC /

ATS support), extendable at the Bank’s discretion

but at mutually agreed terms and conditions.

The Bank will have the right, in its sole discretion to

renegotiate the prices/ terms and conditions.

As per RFP.

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94 Penalties 225 5.6 The Vendor is expected to

complete the assigned

responsibilities as per the specified

time frame mentioned in this

RFP/agreement. In case of Rollout

delays by the successful Vendor,

the Bank may, at its discretion,

impose a financial penalty on the

Vendor @ 5% of the total contract

value, for every month of delay,

subject to maximum of 10% of the

total contract value as per the

agreement between the Bank and

the Vendor. In case of delay of

more than two months by the

Vendor, the Bank may cancel the

contract at its sole discretion.

The Vendor is expected to complete the assigned

responsibilities as per the specified time frame

mentioned in this RFP/agreement. In case of

Rollout delays by the successful Vendor, the Bank

may, at its discretion, impose a financial penalty

on the Vendor @ 5% 1% of the total contract

value, for every month of delay, subject to



Vendor. In case of delay of more than two months

by the Vendor, the Bank may cancel the contract

at its sole discretion.

However the overall maximum penalty, if any

that can be imposed on Bidder under this

proposal contract shall not exceed 3% of the

Annualized Contract Value and penalty for a

given month should not be more than 3% of

monthly invoice value and the Bank shall

provide a 30 day notice to cure the default,

failing which, the Bank may initiate the

cancellation of the contract. In case of

cancellation, the Bank shall pay for the

services rendered till date

As per RFP.

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95 Penalties 225 5.6 Business Utility and Business

Downtime would be the key

considerations for determining the

“Penalties” that may be levied on

the Vendor for “Non‐Adherence” to

the SLA for the Services offered.

The inability of the Vendor to

provide the requirements as per

the scope or to meet the deadlines

as specified would be treated as

breach of contract for the purposes

of invocation of the Penalty Clause.

The applicable “Penalties” would

be the same irrespective of the root

causes. Penalties due to downtime

shall be subject to maximum of

10% of the total contract value as

per the agreement between the

Bank and the Vendor.

Business Utility and Business Downtime would be

the key considerations for determining the

“Penalties” that may be levied on the Vendor for

“Non‐Adherence” to the SLA for the Services

offered. The inability of the Vendor to provide the

requirements as per the scope or to meet the

deadlines as specified would be treated as breach

of contract for the purposes of invocation of the

Penalty Clause. The applicable “Penalties” would

be the same irrespective of the root causes.

Penalties due to downtime shall be subject to



Vendor.

As per RFP.

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96 Duration

and

Condition

of

Engageme

nt

244 7.11.2 The Bank will reserve the right to

terminate the services of the

Vendor at any point of the Project

(during the implementation phase

and post go-live) without assigning

any reasons. In such cases the

Bank may consider making

payment commensurate with the

last completed phase.

The Bank will reserve the right to terminate the

services of the Vendor at any point of the Project

(during the implementation phase and post go-live)

by issuing a prior written notice of 90 (ninety)

days without assigning any reasons. In such cases

the Bank may consider making payment

commensurate with the last completed phase.

In the event of such termination, the Bank shall

pay to the Bidder:

(a) the amount due under the Agreement or any

statement of work up to the effective date of

termination for which services (including parts

thereof); and

(b) committed costs for goods sold and

software licenses and hardware that the Bidder

has incurred for provision of services to the

Bank;

(c) any termination charges agreed by the

Parties ; and

(d) any unamortized costs for investments

made by the Bank;

(e) any amounts due to OEM or other third

parties which cannot be avoided in spite of

efforts by the Bidder.

As per RFP.

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97 General

Terms &

Conditions

246 8.1 (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 Bidders will

be disqualified and will not be

considered for the selection

process.

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 Bidders will be disqualified and

will not be considered for the selection process.

As per RFP.

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98 Limitation

of Liability

248 8.4 Neither party shall, in any event,

regardless of the form of claim, be

liable for any indirect, special,

punitive, exemplary, speculative or

consequential damages, including,

but not limited to any, business

interruption, and loss of income or

profits, irrespective of whether it

had an advance notice of the

possibility of any such damages.

Subject to the above and

notwithstanding anything to the

contrary elsewhere contained

herein, the maximum liability, of

Vendor and purchaser (the Bank)

shall be, regardless of the form of

claim, restricted to the total of bill of

material received by Vendor from

the Bank for the event that gave

rise to such liability, as of the date

such liability arose, during the

contract period

Limitation of liability will not be

applicable to any legal injuries

suffered by the Bank due to

the Bidder in following scenarios:

- fraud, wilful misconduct, or gross

negligence.

- breach of intellectual property

with respect to third party claims

Neither party shall, in any event, regardless of the

form of claim, be liable for any indirect, special,

punitive, exemplary, speculative or consequential

damages, including, but not limited to any,

business interruption, and loss of income or profits,

loss of data irrespective of whether it had an

advance notice of the possibility of any such

damages. Subject to the above and

notwithstanding anything to the contrary elsewhere

contained herein, the maximum aggregate liability,

of Vendor and purchaser (the Bank) shall be,

regardless of the form of claim, restricted to the

total fees of bill of material received by Vendor

from the Bank for the event that gave rise to such

liability, as of the date such liability arose, during

the contract period preceding 12 months.

Limitation of liability will not be applicable to any

legal injuries suffered by the Bank arising out of

third party claims made against the Bank

directly due to the Bidder in following scenarios:

- fraud, wilful misconduct, or gross negligence.

- breach of intellectual property with respect to third

party claims

- breach of confidentiality (excluding loss of

personal and sensitive data), cybersecurity

breach or data losses

- breach of any applicable law, both national and

international.

As per RFP.

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99 Indemnific

ation

248 8.5 The Bidder shall, at its own cost

and expenses, defend and

indemnify the Bank 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.

If the Bank is required to pay

compensation to a third party

resulting from such infringement,

the Bidder shall be fully responsible

therefore, including all expenses,

court and legal fees. The Bidder

shall also be liable to indemnify the

Bank, at its own cost, expenses,

against all losses/ damages, which

the Bank may suffer on account of

violation by the Bidder of any or all

national/ international trade laws,

norms, standards, procedures, etc.

The Bidder shall, at its own cost and expenses,

defend and indemnify the Bank 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.

If the Bank is required to pay compensation to a

third party resulting from such infringement, the

Bidder shall be fully responsible therefore,

including all reasonable expenses, court and legal

fees. Provided however that the Bidder shall not

have any liability to the Bank to the extent that

any infringement or claim thereof is attributable

to: (1) the combination, operation or use of a

service/deliverable with equipment or software

supplied by the Bank where the

service/deliverable would not itself be

infringing; (2) compliance with designs,

specifications or instructions provided by the

Bank; (3) use of a service/deliverable in an

application or environment for which it was not

designed or contemplated under an applicable

statement of work/agreement; or (4)

modifications of a service/deliverable by

anyone other than the Bidder where the

unmodified version of the service/deliverable

would not have been infringing. The Bidder will

completely satisfy its obligations hereunder if,

after receiving notice of a claim, it obtains for

As per RFP.

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100 Cancellatio

n of

Contract

and

Compensat

ion

249 8.6 The Bank reserves the right to

cancel the contract of the Vendor

and recover expenditure incurred

by the Bank if the progress

regarding execution of the contract,

made by the Vendor is found to be

unsatisfactory for any reason. After

the award of the contract, if the

Vendor does not perform

satisfactorily or delays execution of

the contract, the Bank reserves the

right to get the balance contract

executed by another party of its

choice by giving one month’s

notice for the same. In this event,

the Vendor is bound to make good

the additional expenditure, which

the Bank may have to incur to carry

out bidding process for the

execution of the balance of the

contract. This clause shall survive

even when, for any reason, the

contract is cancelled. The Bank

reserves the right to recover any

dues payable by the Vendor from

any amount outstanding to the

credit of the Vendor, including the

pending bills and/or invoking Bank

Guarantee, if any, under this

contract or any other

The Bank reserves the right to cancel the contract

of the Vendor and recover expenditure incurred by

the Bank if the progress regarding execution of the

contract, made by the Vendor is found to be

unsatisfactory for any reason, in spite of the Bank

having issued a written notice of 30 (thirty) days

to the Bidder for curing the progress.

In the event of such termination, the Bank shall

pay to the Bidder:

(a) the amount due under the Agreement or any

statement of work up to the effective date of

termination for which services (including parts

thereof); and

(b) committed costs for goods sold and

software licenses and hardware that the Bidder

has incurred for provision of services to the

Bank;

(c) any termination charges agreed by the

Parties ; and

(d) any unamortized costs for investments

made by the Bank;

(e) any amounts due to OEM or other third

parties which cannot be avoided in spite of

efforts by the Bidder.

After the award of the contract, if the Vendor does

not perform satisfactorily or delays execution of the

contract, the Bank reserves the right to get the

balance contract executed by another party of its

choice by giving one month’s notice for the same.

In this event, the Vendor is bound to make good

As per RFP.

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101 Financial

Bank

Guarantee

250 8.9 The Bank reserves its right to

invoke the guarantee for

recovering the penalty amount as

determined in accordance with this

RFP/agreement. Without prejudice

to the other rights of the Purchaser

under the Contract in the matter,

the proceeds of the performance

security shall be payable to the

Bank as compensation for any loss

resulting from the Vendor’s failure

to complete its obligations under

the Contract. The Bank shall notify

the Vendor in writing of the

invocation of its right to receive

such compensation, indicating the

contractual obligation(s) for which

the Vendor is in default.

The Bank reserves its right to invoke the guarantee

for recovering the penalty amount as determined in

accordance with this RFP/agreement. Without

prejudice to the other rights of the Purchaser under

the Contract in the matter, the proceeds of the

performance security shall be payable to the Bank

as compensation for any loss resulting from the

Vendor’s failure to complete its obligations under

the Contract. The Bank shall notify the Vendor in

writing of the invocation of its right to receive such

compensation, indicating the contractual

obligation(s) for which the Vendor is in default.

As per RFP.

102 Force

Majeure

251 8.11 As per RFP Provided however that Bank shall not be

excused in any event from timely meeting its

payment obligation.

As per RFP.

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103 Delays in

the

Vendor’s

Performan

ce

253 8.17 The Vendor shall strictly adhere to

the implementation 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 Vendor will

enable the Bank to resort to any or

both of the following:

- Claiming Liquidated Damages

- Termination of the purchase

agreement fully or partly and claim

liquidated

damages

The Vendor shall strictly adhere to the

implementation 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 Vendor will enable the

Bank to resort to any or both of the following:

- Claiming Liquidated Damages

- Termination of the purchase agreement fully or

partly and claim liquidated damages

The total liquidated damages including penalty

under this contract that can be imposed on

Bidder under this proposal contract shall not

exceed 3% of the Annualized Contract Value

and penalty for a given month should not be

more than 3% of monthly invoice value.

In the event of termination Bank shall pay the

Bidder for goods delivered and services

rendered till the date of termination

As per RFP.

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104 Liquidated

Damages

254 8.18 The liquidated damages is an

estimate of the loss or damage that

the Bank 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

relating to supply, delivery,

installation, operationalization,

implementation, training,

support/services, acceptance, etc.),

of the solution by the Vendor and

the Vendor shall be liable to pay

the Bank 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 Bank’s

other rights under the law, the

Bank shall recover the liquidated

damages, if any, accruing to the

Bank, as above, by invoking the

bank guarantee or from any

amount payable to the Vendor

either as per the purchase contract,

executed between the parties or

under any other purchase

agreement/ contract, the Bank may

have executed / shall be executing

The liquidated damages is a genuine pren -

estimate of the loss or damage that the Bank may

have suffered due to delay in performance or non-

performance of any or all the obligations, directly

and wholly attributable to the actions of the

Vendor (under the terms and conditions of the

purchase contract relating to supply, delivery,

installation, operationalization, implementation,

training, support/services, acceptance, etc.), of the

solution by the Vendor and the Vendor shall be

liable to pay the Bank 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 Bank’s other rights under the law,

Liquidated Damages shall be the Bank's sole

and exclusive monetary remedy for Vendor's

failures to meet the relevant service obligations

and the Bank shall recover the liquidated

damages, if any, accruing to the Bank, as above,

by invoking the bank guarantee or from any

amount payable to the Vendor either as per the

purchase contract, executed between the parties or

under any other purchase agreement/ contract, the

Bank may have executed / shall be executing with

the Vendor.

Liquidated Damages is not applicable for reasons

partially or wholly attributable to the Bank or and

Force Majeure. However, it is the

As per RFP.

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105 Vicarious

Liability

256 8.24 The Bidder shall be the principal

employer of all 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 the Bank shall not have any

direct or indirect liability or

obligation, to pay any charges,

claims or wages of any of the

Bidder’s employees, agents,

contractors, subcontractors etc.

The Bidder shall agree to hold the

Bank, its successors, assigns and

administrators fully indemnified,

and harmless against loss or

liability, claims, actions or

The Bidder shall be the principal employer of all 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 the

Bank shall not have any direct or indirect liability or

obligation, to pay any charges, claims or wages of

any of the Bidder’s employees, agents, contractors,

subcontractors etc. The Bidder shall agree to

indemnify hold the Bank, its successors, assigns

and administrators fully indemnified, and harmless

against third party loss or liability, claims, actions

or proceedings, if any, that may arise from death,

personal injury of personnel whatsoever nature

caused to the Bank through the action negligence

and wilful misconduct of Bidder’s employees,

agents, contractors, subcontractors etc.

As per RFP.

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106 Non‐Solicit

ation

256 8.27 The Bidder, during the term of the

contract and for a period of two

years thereafter shall not without

the express written consent of the

Bank, directly or indirectly:

1. 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 the

Bank in rendering

services under the contract; or

2. Induce any person who is / have

been an employee or associate of

the Bank at any

time to terminate his/ her

relationship with the Bank.

The parties Bidder, during the term of the contract

and for a period of two years thereafter shall not

without the express written consent of the other

party Bank, directly or indirectly:

1. 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 the other

party Bank in rendering

services under the contract; or

2. Induce any person who is / have been an

employee or associate of the other party Bank at

any time to terminate his/ her relationship with the

other party Bank.

As per RFP.

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107 Other

Terms and

Conditions

257 8.31 During the assignment, the

substitution of key personnel 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 prior approval of

the Bank by providing other staff of

same level of qualifications and

expertise. If the Bank is not

satisfied with the substitution, the

Bank reserves the right to

terminate the contract and recover

whatever payments made by the

Bank to the Vendor during the

course of this project besides

claiming an amount, equal to the

contract value as liquidated

damages. However, the Bank

reserves the right to insist the

Vendor to replace any team

member with another (with the

qualifications and expertise as

required by the Bank) during the

course of this assignment

During the assignment, the substitution of key

personnel 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 prior approval of the Bank by providing other

staff of same level of qualifications and expertise. If

the Bank is not satisfied with the substitution, the

Bank reserves the right to terminate the contract

and recover whatever payments made by the Bank

to the Vendor during the course of this project

besides claiming an amount, equal to the contract

value as liquidated damages. However, the Bank

reserves the right to insist the Vendor to replace

any team member with another (with the

qualifications and expertise as required by the

Bank) during the course of this assignment

As per RFP.

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108 Sanctions

for

Violations

287 6 • Performance Bank Guarantee

(after the contract is signed) shall

stand forfeited or invoked, as the

case may be, either fully or

partially, as decided by the BUYER

and the BUYER shall not be

required to assign any reason

therefor.

• To immediately cancel the

contract, if already signed, without

giving any compensation to the

BIDDER

• To recover all sums already paid

by the BUYER with interest thereon

at 1%higher than the prevailing

Base Rate of a Scheduled

Commercial Bank, while in case of

a BIDDER from a country other

than India with interest thereon at

1% higher than the benchmark like

LIBOR/ SOFR. If any outstanding

payment is due to the BIDDER

from the BUYER in connection with

any other contract for any other

services, such outstanding

payment could also be utilized to

recover the aforesaid sum and

interest

• To encash the Performance Bank

Guarantee / Warranty Bond, if

• Performance Bank Guarantee (after the contract

is signed) shall stand forfeited or invoked, as the

case may be, either fully or partially, as decided by

the BUYER and the BUYER shall not be required

to assign any reason therefor.

• To immediately cancel the contract, if already

signed, without giving any compensation to the

BIDDER. Bank has to provide 60 days’ notice to

the Bidder for cure period and failing to cure

the default shall attract termination for which

Bank shall pay the bidder for goods delivered

and services rendered till the date of

termination.

• To recover all sums already paid by the BUYER

with interest thereon at 1% higher than the

prevailing Base Rate of a Scheduled Commercial

Bank, while in case of a BIDDER from a country

other than India with interest thereon at 1% higher

than the benchmark like LIBOR/ SOFR. If any

outstanding payment is due to the BIDDER from

the BUYER in connection with any other contract

for any other services, such outstanding payment

could also be utilized to recover the aforesaid sum

and interest

• To encash the Performance Bank Guarantee /

Warranty Bond, if furnished by the BIDDER, in

order to recover the payments, already made by

the BUYER, along with interest.

• To cancel all or any other contracts with the

BIDDER. The BIDDER shall· be liable to pay

As per RFP.

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109 Saving

clause

Clause not present in RFP Request Bank to Include -

Vendor’s failure to perform its contractual

responsibilities, to perform the services, or to meet

agreed service levels shall be excused if and to the

extent Vendor's performance is effected , delayed

or causes non-performance due to Bank's

omissions or actions whatsoever.

As per RFP.

110 Deemed

Acceptanc

e


Services and/or deliverables shall be deemed to be

fully and finally accepted by Bank in the event

when Bank has not submitted its acceptance or

rejection response in writing to SI within 15 days

from the date of installation/ commissioning or

when Bank uses the Deliverable in its business,

whichever occurs earlier. Parties agree that Vendor

shall have 15 days time to correct in case of any

rejection by Bank.

As per RFP.

111 Change

order


Either party may request a change order (“Change

Order”) in the event of actual or anticipated

change(s) to the agreed scope, Services,

Deliverables, schedule, or any other aspect of the

Statement of Work/Purchase Order. Vendor will

prepare a Change Order reflecting the proposed

changes, including the impact on the Deliverables,

schedule, and fee. In the absence of a signed

Change Order, Vendor shall not be bound to

perform any additional services not part of the

commercial bid.

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


112 Terminatio

n by bidder


Vendor may terminate the Agreement upon written

notice to Bank in the event that Bank commits a

material breach of the Agreement or Statement of

Work, including non-payment of fees and fails to

cure such default to the non-defaulting party’s

reasonable satisfaction within thirty (30) days after

receipt of notice. In the event of termination, Bank

shall pay Vendor for goods & services rendered till

the date of termination.

As per RFP.

113 Variance in

Minimum

Wages


Vendor undertakes that it is compliant to State

minimum wages act at the time of execution of the

Agreement and the commercials are accordingly

factored. In the event there is a change to the State

minimum wages act or if the Bank wants the

Vendor to comply to some other minimum wages

act including but not limited to Central minimum

wages act or the existing minimum wages act is

repealed by another act, then in such cases, Bank

will support Vendor with change request for

additional cost incurred by Vendor for complying to

new minimum wages. Vendor will not ask for

Change request for any changes that is within 8%

increase year on year from the State minimum

wages as on the date of contract sign off.

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


114 Irrevocable

document


Notwithstanding anything contained elsewhere, the

Request for Proposal and/or contract signed

between Bank and the successful

bidder/Vendor(“Contract”) shall specify the

document to be issued by Bank for procuring the

deliverables (“Procuring Document”). Such

Procuring Document shall –

(a) Be solely governed by the terms and conditions

of the Contract

(b) Make an express reference to the Contract

It is also clarified that no pre-printed terms and

conditions mentioned in the Procuring Document

shall apply to the successful bidder/Vendor.

As per RFP.

115 Risk and

Title


The risk, title and ownership of the products shall

be transferred to the Bank upon delivery of such

products to the Bank

As per RFP.

116 ERV Clause not present in RFP Request Bank to Include -

“It is agreed that the price quoted is arrived at

based on the exchange rate of 1 USD = INR ___

(“Base Exchange Rate”). In the event the Base

Exchange Rate either increases or decreases by

percentage points greater than two per cent [2%],

the prices shall be charged as per the then current

exchange rate.”

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


117 SNR Clause not present in RFP Request Bank to Include -

Bank hereby agrees to make the site ready as per

the agreed specifications, within the agreed

timelines. Bank agrees that Vendor shall not be in

any manner be liable for any delay arising out of

Bank's failure to make the site ready within the

stipulated period, including but not limited to levy of

liquidated damages for any delay in performance of

Services under the terms of this Agreement. In

case the SITE is not ready for a continuous period

of 30 days, milestone payment related to

installation will be released to vendor based on the

SNR report, also if there is any additional warranty

cost due to continuous site not readiness for 30

days, same will be borne by the Bank

As per RFP.

118 Pass

Through

Warranty


Since Vendor is acting as a reseller of completed

products, Vendor shall “pass-through” any and all

warranties and indemnities received from the

manufacturer or licensor of the products and, to the

extent, granted by such manufacturer or licensor,

the Bank shall be the beneficiary of such

manufacturer’s or licensor’s warranties and

indemnities. Further, it is clarified that Vendor shall

not provide any additional warranties and

indemnities with respect such products.

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


119 Tax Clause not present in RFP Request Bank to Include -

Any increase or decrease in the rates of the

applicable taxes, duties or any new levy on account

of changes in law shall be to the account of

Customer.

As per RFP.

120 Annexure

N

Confidentia

lity and

Non-

Disclosure

Agreement

Undertakin

g

296 In this letter, the phrase

"Confidential Information" shall

mean any 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 at any time

before, during or after the

Implementation of Next Generation

Treasury Application.

Request Bank to Include -

In this letter, the phrase "Confidential Information"

shall mean any information (whether of a

commercial, technical, scientific, operational,

administrative, financial, marketing, business, or

intellectual property nature or otherwise), whether

oral (which shall be reduced into writing within

7 days of disclosure) or written, and is

specifically marked as confidential information,

relating to RBI and its business that is provided to

us at any time before, during or after the

Implementation of Next Generation Treasury

Application.

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


121 Request Bank to Include -

Notwithstanding the provisions of this

Annexure, Vendor shall be entitled to disclose

Confidential Information received from Bank or

developed in connection with this Agreement to

its internal audit/quality assurance teams (and

other similar internal or third party

bodies/users), finance and HR functions,

financial and professional advisors or auditors,

finance providers, for the purposes of statutory

compliance (e.g. re: immigration purposes) and

to its subcontractors to the extent reasonably

required in connection with this Agreement or

the provision of the Services.

As per RFP.

122 2.13 30 2.13.2 The Vendor’s resources will be

required onsite during the

deployment phase.

Request the Bank to confirm the locations to be

covered during the deployment phase. Also, given

COVID and travel restrictions will RBI consider

remote access via VPN for the deployment phase?

Data Centre location shall be Navi

Mumbai and DR site will be at

Nagpur.User location will be RBI,

CO, Mumbai and RBI Nagpur.

Remote access is not considered.

123 2.14 31 2.14.7 The Vendor shall provide

automated regression test suite

and all testing documentation for

future testing on product

enhancements.

Is RBI expecting any software to be additionally

brought for regression testing?

Bidder may include in its proposal.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


124 2.22 37 2.22.7 Where the Vendor is not the

Manufacturer of certain

components of the Solution, the

Vendor shall disclose the

Manufacturer’s warranty for such

components to the Bank and, in the

event such warranty exceeds the

Vendor’s warranty under this

Contract in any respect, shall

ensure that the Bank will receive

the benefit of the Manufacturer’s

warranty.

In case the vendor is not the manufacturer and

standard OEM warranty is lesser than 3 years will

the same be acceptable?

As per RFP.

125 2.24 40 2.24.1 After the expiry of the 3 years of

warranty period, the Bank will enter

into an AMC agreement with the

Vendor for a period of 4 years. The

support extended by the Vendor

during the Warranty Period, as

mentioned in this document, would

also be required to be extended

during the AMC period.

The warranty period includes functional changes

under the continuous development clause. We

understand the same would not be required under

the AMC/Support phase i.e. after 3 years warranty

and continuous development is over. Request the

Bank to confirm if our understanding is correct.

Continuous development is

envisaged for three years and it

would be at Bank's discretion to

continue during AMC period or not.

126 2.38 54 2.38 Design and Build

• HLD and LLD

• Source Code

• Test plans, Test script and

sample test data

Kindly confirm if the same refers to test cases or

solution source code?

It refers to both test cases and

solution source code.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


127 4.2 219 4.2 For evaluation purposes, costs of

the software licenses proposed by

the Bidder would be included in the

Total Cost of Ownership. In case

any software license(s) are

required to be procured directly

from the Original Equipment

Manufacturer (OEM)/ Product

Vendor, the actual payment to the

Vendor will be reduced

appropriately to exclude the

software license costs quoted in

the commercial bid. Bidder is

requested to add all Other

Software Licensing Cost (which are

required for the working of solution

and not included in the

infrastructure provided by the

Bank) under the header "Any other

requirements for the proposed

solution" on MSTC e-commerce

portal website. Bidders shall

provide the GST details in respect

of the costs as indicated in the

Commercial Bid format (Annexure

U).

In case of different OEM and SI, is this applicable

for OEM solution as well? Can a separate quote be

provided for the OEM solution and RBI will directly

procure the same from the OEM and sign the End

User License with OEM?

This is limited to the Libraries,

middleware's where the Bank may

or may not buy the product from the

SI.

128 6.2 229 6.2 Solution Proof of Concept: Proof of

Concept on comprehensiveness

and adeptness of functional and

technical requirement to the bank.

Can RBI clearly list out the PoC test cases across

products and modules to ensure objectiveness of

evaluation across vendors.

The same will be provided in due

course.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


129 8 246 8 The Bidder, selected for the

solution, will have to enter into a

contract directly with RBI. The

contract will contain various terms

and conditions including payment,

delivery, installation and

operationalization, training,

commissioning and acceptance,

support during periods of warranty

and maintenance, penalty due to

delay in performance. All the

diagrams, drawings, specifications

and other related literature and

information, provided by the Bidder

for the solution and agreed to by

RBI, will also form a part of the

agreement.

In case of partnering with OEM, the OEM end user

terms which govern the usage of the software need

to be agreed and signed between the OEM and

RBI. Is the Bank open to directly procuring the

solution from the OEM and executing an End User

License for the same?

Contract shall be signed between

the Bank (RBI) and the Prime Bider

only.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


130 8.1 251 8.1 Partnering with the Original

Equipment Manufacturer (OEM)

It will be the sole responsibility of

the Bidder to get the proposed

technical solution vetted by the

OEM as part of the response, if he

is not the OEM; and submit a copy

of the same to the Bank confirming

their partnership regarding the

implementation of the project. The

Bidder shall collaborate with the

OEM at all stages of the Solution

implementation to the satisfaction

of the Bank. The Bidder needs to

adhere to the project timelines at

all costs irrespective of any

constraint being faced by the OEM.

The Bidder shall be responsible for

any loss, damage, late-payment,

penalty arising out of non-fulfilment

of obligations by OEM.

In case of partnering with OEM, the OEM end user

terms which govern the usage of the software

would need to be signed between the OEM and

RBI. This will be in addition to the SI/Vendor

contract. This will also be applicable for all

supporting software like OS, Database etc.

Request the Bank to confirm our understanding

As at Sl. No. 129.

131 Annexure

Q

302 Annexure

Q

Undertaking Accepting Escrow

Arrangement

Incase of separate OEM and SI, since OEM will be

doing the escrow for product source code. this

document would be signed by OEM. Request RBI

to confirm our understanding

The requirement shall be on the SI.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


132 2.14 31 2.14.3 The Vendor is expected to use

industry standard tools for

performance and load testing and

share the results with the Bank. In

case, if such tool needs to be

procured, the procurement will be

the Vendor’s responsibility

Request if Bank can share examples of the tools

expected to be used for testing


133 Timeline Timeline Timeline Project Time line query Request RBI to consider go live from the date of

Contract signature rather than issue of P.O as the

contract discussion can take some time for

conclusion?

Kindly refer to the corrigendum of

even date.

134 Timeline Timeline Timeline Project Time line query As per RFP, total implementation time up to go-live

is 12 months. Out of this 12 months, how many

months bank plan to do SIT, UAT and parallel run?

Kindly refer to the discussions

during the pre-bid meeting held on

August 06, 2021.

135 2.16 34 2.16.1 Vendor may choose to implement

the project in phase wise manner;

however, all the transactional

modules should be live in the first

phase itself. Only reporting,

dashboard and high-level analytics

can be part of the second phase.

The overall timeline is for 12 months, request to

clarify if there is phase wise expected timeline

As per the RFP all the

transactional modules should be

live in first phase itself.

136 2.40 56 2.40.5 Business Process Reengineering –

The Vendor shall include the

impact of the new system to the

operations of Client. If applicable,

the proponent shall recommend

changes to the existing processes

that would benefit Client

Request to please advise if recommendation for

process change will include financial reporting

process

Yes

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


137 3.1.11 59 PD 43 Application should be able to

compare the accrual generated in

NGTA with the accruals as

available on Market Data Provider

(like Bloomberg).

Please clarify which accruals are to be compared Accruals related to bonds/security.

138 3.1.11 128 AC 23 Support multiple Accounting

standards like but not limited to

India GAAP, US GAAP, IFRS etc.

We understand that the Bank prepares financial

statements in accordance with the RBI Act, 1934

and the notifications issued thereunder and, in the

form, prescribed by the Reserve Bank of India

General Regulations, 1949. Accordingly we can

consider the current accounting standard for

NGTA. Please confirm understanding.

Application should not be limited to

the current accounting standard. It

should have the capability to

support various accounting

standards as mentioned in RFP

giving RBI the flexibility to adopt

any standard if the need is so felt.

139 3.1.11 128 AC 24 Application should allow

configuring different types of

accounting classifications such as

Available For Sale (AFS), Held Till

Maturity (HTM), Held for Trading

(HFT), FVTPL, FVTOCI based on

Ind AS etc.

We understand that under current accounting

classification of FVTPL and FVOCI are not present.

Please clarify the rationale for this requirement

As per RFP.

140 3.1.10 125 RE 49 All the relevant reports Required

should be made available. Few

examples are: Reconciliation

Statements for Nostro and Buffer

Accounts, Mirror reporting,

Custodian Report, BIS/ACU/Other

entities reporting etc.

Request to please share the illustrative formats of

the reports

Exact reports will be shared with

the successful bidder.

141 3.1.11 128 AC 33 Provision to generate Trial

Balance, Balance Sheet, Profit /

Loss statement etc.

Presently the Bank prepares Income statement.

Our understanding is that the same will be

continued in NGTA. Please confirm

Application should support

generation of Trial Balance,

Balance sheet, P&L, Income

Statements etc.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


142 3.1.11 132 AC 77 NGTA should be able to calculate

the loss amount by considering the

difference between the market

price and the Amortized MTM cost.

Request to please explain Amortised MTM Cost The Amortised MTM Cost, is the

Weighted Average Acquisition

Price, adjusted by amortisation and

revaluation.

143 3.1.11 139 AC 161 User should be able to view

Accounting Rules in a tree

structure.

We understand accounting rules will be as per

accounting standards currently used to prepare

Financial Statements. Please confirm.

As per RFP.

144 3.1.14 152 RP 1 Reporting tool should support

generation of reports for all

modules like but not limited to

Forex, FIS, Money Market, Gold,

IMF, Aid Management, Gold

Inventory, ACU, Bilateral, SAARC

SWAP, Credit Risk, Market Risk,

Repo and Collateral, Accounting,

Reconciliation, Rates, EAM,

Concurrent Audit, Static

Information, Admin, service level

agreement (SLA), Application level

etc.

Request to please share the illustrative formats of

the reports

Exact requirements will be shared

with the successful bidder.

145 3.1.11 128 AC 28 Application should allow the user to

cherry pick the accounting methods

and accounting policies as per the

Bank’s requirements for each asset

classes / modules etc. User should

be able to switch / modify

accounting method / policies as

and when required.

Request to please elaborate on the rationale

behind this

There may be requirement to use

different accounting methods like

FIFO/LIFO / WAC etc. for different

products depending on the internal

policy/regulatory requirements.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


146 3.1.11 60 PD 51 &

PD 52

NGTA should be able to calculate

P/L for various securities

depending on the price logic as

needed by users. P/L logic can be

FIFO, LIFO, WAP and Cherry

picking. It should be able to do this

separately for different portfolios

The P/L logic can be different for

different products/asset classes.

Application should support that

Request to please elaborate on the rationale

behind this

There may be requirement to use

different methods for calculation of

P/L like FIFO/LIFO/ WAC etc. for

different products depending on the

internal policy/regulatory

requirements.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


147 8.4 248 8.4 Neither party shall, in any event,





















contract period.

Request the bank to clarify what is meant by " total

of bill of material received by Vendor from the

Bank".

As per the RFP it is total supply

scope of the vendor.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


148 Annexure

K

287 6.1.4 To recover all sums already paid

by the BUYER with interest thereon

at 1% higher than the prevailing

Base Rate of a Scheduled

Commercial Bank, while in case of

a BIDDER from a country other

than India with interest thereon at

1% higher than the benchmark like

LIBOR/ SOFR. If any outstanding

payment is due to the BIDDER

from the BUYER in connection with

any other contract for any other

services, such outstanding

payment could also be utilized to

recover the aforesaid sum and

interest

Request the Bank to consider removing the same

from the integrity pack

As per RFP.

149 Annexure

K

288 6.1.6 To cancel all or any other contracts

with the BIDDER. The BIDDER

shall· be liable to pay

compensation for any loss or

damage to the BUYER resulting

from such cancellation / rescission

and the BUYER shall be entitled to

deduct the amount so payable from

the money(s) due to the BIDDER.

Request the Bank to consider removing the same

from the integrity pack

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


150 Annexure

C

266 Annexure

C

Performance Bank Guarantee We understand that the prime bidder is to provide a

Performance Bank guarantee once the contract is

awarded. Annexure C provides the format of the

BG which as per our understanding is not to be

submitted at the current stage of bid submission.

Request Bank to confirm the requirement in

Annexure C during the submission of the Bid. Is an

undertaking by the prime bidder in this regards

sufficient?

Yes, the Prime Bider has to furnish

a Performance Bank Guarantee

within 30 days from the declaration

of the final results. Yes an

undertaking at this stage should be

sufficient.

151 Annexure

S

306 Annexure

S

Financial bank Guarantee We understand that the prime bidder is to provide a

Financial Bank guarantee at a later stage in the

contract. Annexure S provides the format of the BG

which as per our understanding is not to be

submitted at the current stage of bid submission.

Request Bank to confirm the requirement in

Annexure S during the submission of the Bid. Is an

undertaking by the prime bidder in this regards

sufficient?

Yes, the Prime Bider has to furnish

a Financial Bank Guarantee within

90 days from the date of go live.

Yes an undertaking at this stage

should be sufficient.

152 2.13 31 2.13.5.1 Following instances of NGTA shall

be deployed.

1) Primary Data centre (PDC- 2

instances

How these 2 primary data centre (PDC) should

work / integrated with each other?

Primary data centre will have two

instances, in case if one of the

instance fails, the other instance at

same location should take over. In

case of site failure, the DR site

should take over.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


153 2.15 34 2.15.14 The Vendor should capture the

data through data entry module/

screen, in case if the some of the

data migration is not possible due

to gaps between proposed solution

and present system. The data

entered through such screens is to

be validated (maker and checker)

and it is to be uploaded by the

Vendor

Request the Bank to clarify the below:

1. Does it required manual data entry?

2. What would be the quantum of data to be

migrated that is not available in database format or

available in physical (hardcopy) format that needs

to be entered into the NGTA system manually?

In case any data can't be migrated

by ETL methodology, the

appropriate screen for data entry

has to be provided by the Vendor.

154 2 33 2.14.11 The Bank will conduct VAPT which

will provide vulnerability ratings

(preferably) based on industry

standards as defined by Forum of

Incident Response and Security

Teams (FIRST) Common

Vulnerability Scoring System

(CVSS) and Massachusetts

Institute of Technology Research

Establishment (MITRE) Common

Weakness Enumeration (CWE).

Third party testing, third party audit

(application, data and process) and

vulnerability assessment and

penetration testing (VAPT) will be

carried out by the Bank before

going Live. The Vendor shall make

necessary arrangements

OEM cannot accept paragraphs 11 under clause

2.14, and paragraph 12 (the part related to VAPT

which is underlined). Instead of having the Bank

conduct the VAPT and the Bank or any third party

employed by the Bank to conduct any third party

testing/audit, the OEM is willing to provide

evidence that we have conducted a static code

analysis of the production version at the Bank and

self certification that we are in compliance with the

remediation schedule as per our then current

Security Policy. Confirm if RBI is fine with

accepting the same.

As a part of secure software

development lifecycle(SSDLC)

process, Vendor/OEM should make

necessary arrangements for any

security assessment bank wants to

conduct including VAPT,RA,VSRA

etc.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


155 2 35 2.16 Implementation Request RBI to elaborate on its current IT set up.

Does it have its own team of DBA/System

administrator who own and manage hardware and

platform software like DBMS, OS?

Infrastructure provided by the Bank

will be managed by the Bank's

team.

156 2 35 2.16 Implementation Request the Bank to provide the list of front office

platforms currently being used by the Bank

As per RFP.

157 2 35 2.16 Implementation Which is the current reserve management system

used by the Bank?

Reserve management is carried

out with the help of the incumbent

system.

158 2 35 2.16 Implementation How external funds are managed in system now?

Their performance calculation and return?

The details shall be shared with the

selected bidder.

159 2 35 2.16 Implementation Which system is used for Physical Gold

management, Inventory and Valuation?

The details shall be shared with the

selected bidder.

160 2 35 2.16 Implementation How is the Bank currently managing IMF

integration/Investment in SDR?

The current system supports this

functionality.

161 2 35 2.16 Implementation How many benchmark are used for performance

measurement? Please provide list of benchmark

The details will be shared with the

selected bidder.

162 2 35 2.16 Implementation How many portfolios does the Bank currently

have? Please provide portfolio structure along with

benchmark.


selected bidder.

163 2 35 2.16 Implementation Please provide high level details on investment

bank (in terms of products and their currency)

along with open position and daily volume


selected bidder.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


164 2 35 2.16 Implementation What is bank current risk management system? The details will be shared with the

selected bidder.

165 2 35 2.16 Implementation What is concurrent audit, mentioned at several

places e.g. CM-11

It refers to the concurrent audit of

deals.

166 2 37 2.22.1 It would be mandatory for the

Vendor to provide Warranty for 3

years for the solution. The

Warranty period of three (3) years

would commence from the date of

issue of Completion Certificate

As a standard practice, the OEM provides a period

of warranty of one year. Warranties pertaining to

Software and Applications starts post deployment

of licenses in the production. Please confirm if the

same is acceptable to the Bank

As per RFP.

167 2 40 2.24.4 OEM support should have 24*7

online support with immediate

ticketing.

The Case Management System (web-based) of the

OEM is available 24x7. Support staff is available

on 24x5 basis. Upon advance notice, Support can

be available for very specific activities over week-

ends (migration standby). Please confirm if the

Bank is fine with the same

As per RFP.

168 2 49 2.33.1 Vendor would be required to

provide Enterprise-wide all-

inclusive Perpetual license for all

functionalities as per the

requirements of the Bank. The total

number of users presently is

expected to be around 150 with

120 concurrent users

OEM's typical model is subscription license with 5

year non-cancellable subscription term. Would the

Bank be fine considering Subscription licensing or

a fixed tenure term license i.e. Upfront license fees

and a fixed maintenance contract for 8 years? The

standard user count is based on named user count

and an annual declaration of the user count is

required for compliance.

As discussed during the pre-bid

meeting held on August 6, 2021,

bidder can calculate the

subscription cost for period of the

contract and provide as part of the

commercial bid in the requisite

template.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


169 2 50 2.33.5 There shall not be any restriction in

licenses with respect to type of

users, number of users, and

access to different modules and

functionality.

The OEM licensing is based on number of users

and type of users. Request the Bank to provide the

break-up by Front Office , Middle Office , Back

Office and Non Business Users/IT users ? We can

provide a rate contract price for any additional

users for future additional users increase by user

type.

As per RFP : There shall not be

any restriction in licenses with

respect to type of users, number of

users, and access to different

modules and functionality.

170 2 51 2.35 Before live implementation of the

software solution in production

system, RBI appointed Software

Audit firm/in house team may audit

the product. The Vendor without

any extra charge should comply

with all audit points raised by the

Software Auditor. During warranty

and AMC and ATS period Vendor

need to comply with security and

system audit observation and

remove the audit observation.

The OEM solution is subject to internally driven ISO

27001 and SOC-1 audits. Request RBI to consider

that instead of having RBI appointed software audit

firm/in house team audit the product, the OEM

provide evidence that they continue to maintain

ISO 27001 certification upon RBI’s request

As per RFP.

171 4 218 4.1.1 License Cost- 50% of the License

Cost indicated in Item 1 of

Annexure U shall be payable

immediately on deployment in UAT

testing phase.

Remaining 50% of License cost

shall be paid after receipt of

Completion Certificate from the

Bank

As per standard arrangements, OEM expects

payment of 100% software license fee in advance

at the signing of contract across countries. Request

RBI to consider the same.

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


172 4 218 4.1.2-4.1.5 Implementation fees Upon signing this SOW-40 % Completion of

Blueprint -10% Completion of execution -20% ,

Completion of UAT -20% and Completion of Go-

live-10%

Request RBI to consider the suggested break-up

for fees

As per RFP.

173 4 218 4.1.6 Warranty,AMC,OnsiteSupport

and

Continuous Development - Year

wise payment for each

item at the end of the year

Warranty , AMC and Continuous Development to

be paid annually in advance as per our standard

terms with all our clients

As per RFP.

174 5 223 -

224

5.3 CriticalityTime to Recovery (TTR)

Level 1 / Priority 1Work around

within 30 minutes/ Full

Functionality shall be

restored within 2 hours

Level 2 / Priority 2Work around

within 2 hours/ Full Functionality

shall be

restored within 8 hours

The typical severity levels of issues reported as per

OEM solution are as below:

-P1 (Critical issue – Production system down):

response within 1 (one) hour

-P2 (Blocking issue): response within 2 (two)

hours

-P3 (Minor issue): response within 2 (two)

business days

Is RBI open to accepting the structure already

being practiced by the OEM?

As per RFP.

175 6 234 6.5 Solution Proof of Concept What would be duration of POC process? Typically

3-4 days of POC is a recommended for a project of

this nature

Details of POC cases and

timeframe will be communicated to

the bidders in due course.

176 6 235 6.6.7 The Bank will not release any

structured questionnaires for this

process

As per practice observed in the industry, it is

recommended that a structured questionnaires for

POC for comparison between various bidders be

released. Is RBI open to the same?

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


177 8 247 8.3 Any document, other than the

Contract itself, shall remain the

property of the Bank and all copies

thereof shall be returned to RBI on

termination of the Contract. Without

the Bank’s prior written consent,

the Vendor shall not make use of

any document or information above

except for the purposes of

performing the Contract Intellectual

Property Rights for all major

modules/ products developed

specifically for the Bank and will

vest solely with the Bank. An

undertaking in Annexure Q must be

submitted along with RFP

documents.

OEM has standard agreement as detailed below.

Can the same be accepted by RBI in place of

required escrow in RFP.

Licensee may participate, at Licensee’s expense,

under the Software Escrow Agreement dated

September 27th, 1999 by and between OEM and

Recall Total Information Management or any

successor (“Escrow Agreement”). In the event the

Software source code is released pursuant to the

Escrow Agreement, OEM hereby grants Licensee

the right and license to use the Software source

code solely for internal support and maintenance

purposes of Software properly licensed from OEM

prior to the release of such source code.

Notwithstanding anything to the contrary in this

Agreement, Licensee agrees that the Software

source code for the Software is Confidential

Information of OEM and shall be protected

perpetually until and unless one or more of the

confidentiality exclusions set forth in Section 8.2

occur. Further, Licensee agrees (I) to use the

Software source code under carefully controlled

conditions; (ii) to limit access to the Software

source code to those employees and contractors

(who have signed confidentiality agreements with

Licensee) of Licensee who have a need to know;

and (iii) to notify OEM of each installed location.

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


178 8 252 8.13 The successful Bidder shall be

required to sign an Integrity Pact

with the Bank.

Does this clause indicate that the Bidder only

needs to sign the Integrity Pact in Annexure K

when it is successful in the bidding? When should

the Integrity Pact be signed and submitted?

It should be submitted in the

prescribed format along with the

bid response duly signed by the

authorised signatory.

179 Annexure

F

272 -

273

Technical

Bid

(Implement

ation

Experience

)

Technical Bid (Implementation

Experience)

Some of the information requested is confidential in

nature. Can we share only the non-confidential

information which will differ on case-by-case basis

like can we share the name, key contact person,

period of installation.

It is expected that bidder takes

confirmation from the Customer

and share the information.

Confidentiality of the information

shall be maintained by RBI.

180 Annexure

F

272 -

273

Technical

Bid

(Implement

ation

Experience

)

Supporting Documents

(Implementation Experience)

Volume of transactions handled on day-to- day

basis in implementation

Kindly refer to the discussion held

in pre-bid meeting on August 06,

2021.

181 Annexure

K

286-287 Earnest

Money

Clause 5 (Earnest Money) Is this clause applicable to OEM as well or is it

applicable to SI only?

Only to the SI (prime bidder).

182 Annexure

K

287-288 6.1 Any breach of the aforesaid

provisions by the BIDDER or

anyone employed by it or acting on

its behalf (whether with or without

the knowledge of the BIDDER)

shall entitle the BUYER to take all

or any one of the following actions,

wherever required ….................

Is the purchase agreement to be executed between

SI and RBI only or will it be executed with the OEM

as well? In case the purchase agreement is

executed between SI and RBI only, are the points

pertaining to performance bank guarantee and

purchase agreement under clause 6.1 applicable to

the OEM for submission of annexure K?

Agreement will be signed between

the Bank (RBI) and the Prime

Bidder.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


183 Annexure

K

288 7 Clause 7 (Fall Clause) Is the clause 7 applicable to the OEM? It is applicable to the total solution

offered.

184 3.1.1 57 PD-8 Application should also compute

various types of margin associated

with exchanges informing users

regarding any payment of margin

required.

Is this Variation Margin or Initial Margin. If Initial

Margin(IM), which Exchange is referred to in this

context as IM methodologies vary by exchange .

Application should have the

capability to calculate all type of

margins at various exchanges.

185 3.1.1 58 PD-21 and

PD-28

- Inflation linked securities of any

country

- Index bonds

PD 21 and PD 28 may seem to refer to same

Product. Pl confirm. If they are different, please

provide example of each

Inflation linked security is indexed

to inflation numbers/benchmark.

Index bonds can be linked to any

other benchmarks/index.

186 3.1.1 60 PD-56 Buffer Account for IRF: Managing

Initial Margin, Variation Margin and

payment of various charges

(including exchange charges) to

Clearing Broker (CB).

Is this Margin calculated outside NGTA and fed into

the system ?If it is to be calculated in NGTA, which

exchange IM is required here ?

As at Sl. No. 184.

187 3.1.1 63 PD-101 - All types of forex options Please confirm if it includes , Vanilla Options,

Strategies like Straddle/ Strangle, Call/ put

Spreads, Butterfly etc. , Digital and Barrier Options

?

Yes

188 3.2.3 178 AM-47 Application should provide option

to convert INR payment into non-

negotiable, non-transferable, non-

interest-bearing GOI securities in

the name of the beneficiary

institutions.

Please provide example of this Aid where Funds

are converted into Security .

Exact details will be shared with the

successful bidder.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


189 3.2.4 184 SW-32 Functionality to define/ set IMF

linked and IMF delinked portion

limit and eligibility conditions for

bilateral swap.

Please provide example of this IMF linked Bilateral

Swap

Exact details will be shared with the

successful bidder.

190 3.1.7 105 CR-142 Application should provide a credit

metrics based VaR model for the

FCA portfolio.

Why is VAR under Credit Risk section ?Request

RBI to elaborate more on the requirement

This refers to credit VaR.

191 3.1.7 104 CR-135 Value at Risk (VAR) weightage

should be assigned to every asset

class (e.g. Forex-Gold, Forex-Spot,

Forex-SWAP {tenure of swap},

MM, FI etc.) and this should be

configurable in NGTA.

Requirement of VaR has been mentioned under

Credit Risk Section. Is this to refer to the horizon of

1-day, 10-day, and so on? If not, please provide

example of such VaR calculation .

Yes.

192 3.1.9 116 RC-88 Transfer of manufactured

payments (received on behalf of

the counterparty) should occur on

real time basis to the counterparty.

Please provide example of such manufactured

payments and its role in collateral management .

It refers to any coupon/interest

payment received on the collateral

lien marked with the Bank. This

payment has to be transferred to

the counterparty who has placed

the collateral with the Bank.

193 3.1.14 154 RP-30 There should be built in support for

Business Intelligence (BI) layer and

user should be able to run python

and R scripts on the data. All

market standard Risk Analytics

library for each asset class (e.g.

convexity, options Greek etc.)

should be supported.

May we understand the reasons for insisting on

usage of Python and R for BI ?. Is Bank Open to

use of native APIs / Reports to extract the data ?

If it offers same kind of output and

convenience to the user, the Bank

may examine considering native

APIs.

194 3.1.15 157 DB-39 - Pending compensation

dashboard

Please provide example of this requirement Scope of compensation will arise in

case of delay in or failure to deliver

requisite security by the

counterparty on the due date.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


195 3.1.15 157 DB-43 - Defining Key Performance

Indicator (KPI’s) for user / dealers

by top management and monitoring

them periodically.

Please provide example of this requirement KPI for the Users/Dealers may

include monitoring of Profit or Loss

and limit breaches if any during any

specified period etc.

196 3.3 191 TC-36 Bidder has to provide Bill of





Please confirm if Hardware is to be supplied as

part of this Proposal / Bid




be submitted. However the

procurement will be carried out by

the Bank.

197 3.1.11 127 AC-14 Provision required to define major

and minor account codes.

What is the definition/usage/difference of major

and minor account codes?

A minor account would be a sub-

account of a major account. There

can be multiple minor account

codes within a major account code.

198 3.1.11 127 AC-18 Allow manual creation of Journal

Voucher (JV) with a maker checker

functionality.

Can you please provide more details about Journal

Voucher? Is it the same as accounting porting?

Journal Voucher: Manual posting of

accounting entry.

199 3.1.11 132 AC-75 NGTA should calculate balance

IRA amount by considering

difference between revaluation

price and book value adjusted with

amortization cost as adjusted by

MTM.

Can you please provide a definition of IRA? Is it

referring to Interest Rate Account?

This is investment revaluation

account. This is an account

maintained by the Bank where

valuation gains and losses are

booked on securities.

200 3.1.8 109 MR-47 NGTA should be flexible to

incorporate other models like but

not limited to Insurance model, IMF

Reserve Adequacy Metric etc.

Please elaborate this requirement with examples This is related to calculation of

Liquidity at Risk. Application should

be able to support other regression

models created by the Bank.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


201 3.1.15 156 DB-35 - Aid Receipt Dashboard Please share sample screenshot of this dashboard Exact report/ dashboard will be

shared with the successful bidder.

202 3.1.8 105 MR-4 Instrument level VaR shall be

calculated both in value (in local

currency and numeraire currency)

as well as percentage terms.

Is it a Var decomposition by asset class? Application should support VaR

computation at all levels like global

portfolio, individual portfolio, asset

classes etc.

203 3.1.14 154 RP-23 Vendor as part of NGTA

implementation shall customize /

configure 150 reports.

Kindly clarify which reports are these and what type

of customisation is required. It would be helpful if a

sample report can be provided

The reports will be based on

requirement provided in section 3.

204 3 Internation

al

Monetary

Fund

Asian

Clearing

Union

Aid

Manageme

nt

Swap

Bilateral

Currency

Swap

Bilateral

Module

Is it possible to share any Flow Charts and

example of few Trades that will help in better

understanding of these requirements

The information will be shared with

the successful bidder.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


205 3.1.5 84 BO-43 NGTA should be easily scalable

and configurable to any new

message or security standard that

SWIFT prescribes from time to

time (e.g. Support current (MT) as

well as proposed (MX) etc.).

Is MX to be included in Project Delivery and

License Scope ?

If yes, it is for CASH or SECURITY or BOTH ?

If yes, Please provide details of Jurisdictions -

CBPR+, Target 2 , CHAPS etc.

MX should be part of the Project

Delivery scope as mentioned in the

requirement. It is for cash and

security both. Jurisdiction details

will be shared with the selected

bidder.

206 3 Products Please confirm if IRD - Vanilla Fixed Float, Basis

Swap and Cross Currency Swap are in Scope or

not ?

Yes

207 3.1.12 141 EM-5 Application should support multiple

fee structure for various

EAMs/Custodians along with

automated fee calculation and

payment based on NAV added by

the user/uploaded in the system.

Users should be able to configure

the fee structure with a flexibility to

change and authorise fee payment

transactions after which automated

messages should be generated

and sent.

Could you please confirm if NAV is Imported from

Custodian system or it is to be calculated by NGTA

system ?


capability to support both.

208 3.1.14 153 RP-6 Application should allow to

configure different portfolios for

generating reports.

Are the portfolios for criteria selection or something

else? Can you please explain what do you mean

by configure portfolios for reports?

User should be able to select/filter

various portfolios/parameters while

generating a report.

209 3.1.11 134 AC-101 Provision required to check gold

balance between CBS and NGTA

and application should highlight in

case of any mismatch in the

balances.

What is the expectation from accounting

perspective here?

This is from the balance matching

perspective of gold inventory in

Core Banking Solution (CBS) of the

Bank and the proposed solution

(NGTA).

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


210 3.1.11 135 AC-110 Provision required where upon

receipt of the Aid in RBI’s Nostro

Account; application should auto

debit the ledger using holding rate

(configurable).

Can you please explain how the holding rate is

calculated/configured?

This details would be provided to

successful bidder.

211 3.1.11 140 AC-165 Application should have

functionality to capture fiscal year

end based on entities /

counterparties.

Can you provide an example on how it's working?

Typically there is only 1 year end for the bank.

This is with respect to the fiscal

year end of the counterparties that

we are dealing with.

212 9 272-273 Annexure

F and G

TMS Experience As per RFP, OEM and SI has to submit proof of

previous implementations. Due to confidentiality

some proofs and details of project are difficult to

share. Will RBI be ok if such details are submitted

upon request?

It is expected that bidder takes

confirmation from the Customer

and share the information.

Confidentiality of the information

shall be maintained by RBI.

213 9 272 Annexure

F

TMS Experience As per RFP, OEM and SI has to submit Maximum

of 5 previous TMS experience. Is 5 independent for

both OEM and SI?

Yes

214 Annexure

C

266 Annexure

C and

Annexure

S

Performance and Financial Bank

Guarantee

At the time of issuance of bank guarantee, the

issuing bank may have some comments or inputs

requiring amendment in the format currently

shared. Is RBI open to negotiating the final terms

basis any inputs received from the issuing bank?

As per RFP.

215 Annexure

A

261 Annexure

A

Earnest Money Deposit For the issuance of BG, the issuing bank and our

legal team has provided certain amendments to the

BG text. Will RBI be okay with the amended text

(the same can be shared if required) or we are to

seek prior approval on the text before issuance. If

any approval is required, kindly confirm the process

for the same.

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


216 3 - - Software Request RBI to confirm the list of

solutions/subscription it is currently subscribed to.

The same is required to analyse the requirement of

additional software's/solutions/subscriptions

As per RFP.Any component that is

required for working of the solution

has to be provided by the bidder.

217 3.1.15 157 DB-43 - Defining Key Performance

Indicator (KPI’s) for user / dealers

by top management and monitoring

them periodically.

Will RBI allow to deploy cloud based third -party

tool?

No component of the solution will

be allowed on the cloud. Entire

solution has to be deployed at RBI

data centres.

218 2 Scope of

Work

27-28 2.7

Integration

requireme

nts

– Any other module as desired by

the Bank

Please provide the other module list required for

integration by the Bank

As per RFP.

219 2 Scope of

Work

32 2.15 Data

Migration

All necessary tools required for

extraction/ transformation and

migration of data must be provided

by the Vendor

Extraction and migration of Data.

5. The extraction of data from the

existing system in the required

format shall be carried out by the

Vendor.

Kindly change the responsibility of extraction of

data from existing system to Bank, whereas Bidder

will be providing the support and format for the

same. The new vendor may not be permitted to

work on the data structure of existing vendor and

this may lead to IPR issues.

As per RFP.

220 3 Detailed

Requireme

nts

158 3.2 RBI

Specific

Requireme

nts

3.2.1 International Monetary Fund

related transactions

3.2.2 Asian Clearing Union (ACU)

Module

3.2.3 Aid Management Module

3.2.4 Swap / Bilateral Currency

Swap

3.2.5 Bilateral Module

Kindly confirm the strategy of RBI for the section

3.2 RBI specific requirement. Section 3.2 is not

covered under NGTA_RFP_Requirement

Compliance sheet.

Section 3.2 will not be considered

for evaluation. However bidder

shall be required to provide solution

for all the requirements mentioned

in Section 3.2 along with other

requirements as mentioned in the

RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


221 2 Scope of

Work

39 2.23

Onsite

Support

I. Monitoring application and

underlying infrastructure.

As per RFP, Infrastructure is out of the scope of

this RFP, is it expected by the vendor to be

monitored the underlying infrastructure by the

vendor

Refer Sl. 20.

222 2 Scope of

Work

44 2.28

Continuou

s

Developm

ent

Due to requirement of the Bank to

have continuous development for

NGTA post Completion Certificate,

the implementation team members

shall continue as Continuous

Development team.

Is this continuous development related to Section

3.2 RBI Specific Requirements. we request RBI to

share if there is any additional information

available, Kindly suggest if commercials related to

section 3.2 needs to be included upfront

Continuous Development is for all

the Sections. Any new

requirements/customizations will be

taken up by Continuous

Development Team.

Commercials bid shall include

entire RFP requirements including

section 3.2 requirements.

223 2 Scope of

Work

50 2.33

Licensing

8. If any customization is made

specifically for the Bank as per the

Bank’s requirement, then the

Intellectual Property rights of such

customization shall be with the

Bank.

Kindly confirm if this is only related to the items

specifically customised for the bank after go live.

As per RFP.

224 8 General

Instructions

257 8.30

Ownership

The ownership of the source code

and design for the NGTA specific

to the Bank and all related

application suites, interface

designs, customisations design

etc., and related Intellectual

Property Rights (IPR) shall vest

with the Bank only.

Kindly Change the clause as follow:

The ownership of the source code and design for

the NGTA specific to the Bank and all related

application suites, interface designs,

customisations design etc., and related Intellectual

Property Rights (IPR) shall vest with the Bank OEM

only.

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


225 Annexure 292 Annexure

L: Format

for letter of

self-

declaration

7. The respondent understands

that the Intellectual Property Rights

for all modules /products

developed specifically for RBI and

integrated with the RBI’s proposed

NGTA project will rest solely with

RBI and no claims will be made in

this regard by the respondent.

Kindly remove the clause

7. The respondent understands that the Intellectual

Property Rights for all modules /products

developed specifically for RBI and integrated with

the RBI’s proposed NGTA project will rest solely

with RBI and no claims will be made in this regard

by the respondent.

As per RFP.


R:

Proposed

Team

Profile

Documentary proofs are to be

enclosed to substantiate the claims

made.

We understand that as a documentary proof bidder

can provide the resume of the proposed team

profile

Yes


W:

Manufactur

er’s/

Developer’

s

Authorizati

on Form

(MAF/DAF)

(To be filled by OEM for software

application/ hardware/ system

software/ RDBMS/ any other

suites, whatsoever applicable

separately)

As per understanding, Infrastructure procurement

is not part of this RFP, hence we will not receive

MAF from OEMs

Any component which is not

provided by the Bank and is

required as part of total solution

then Vendor has to provide MAF

for those components.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


228 3.3

Technical

Requireme

nts

190 TC-32 Solution to provide sandbox type

environment isolated from

production environment where data

coming from external source could

be processed and validated for any

malicious content / code before

being sent to internal system.

Adding of sandbox environment will impact STP.

This can be achieved by deploying intrusion

prevention/anti malware components in the

architecture. Do we require a separate env for the

same?

Is this environment stipulated for all established

interfaces on day to day basis or will be used

selectively for new interfaces.

The bidder may propose “intrusion

prevention/anti malware"

components in the architecture, but

it should meet the Bank's

requirements.

229 3.3

Technical

Requireme

nts

197 TC-100 Bidder to share bill of material

(BOM) of the hardware

components / sizing.

As per section 2.31 and 2.32 of RFP, the bank will

arrange the hardware for the application hosting.

Here the understanding is that, BOM to be

provided if any additional hardware components

are recommended by vendor. Hope this

understanding is correct?

BOM for the complete hardware

foot print required for the total

solution has to be submitted.

However the procurement will be

carried out by the Bank.

230 3.4 Non-

Functional

Requireme

nts

204 NF-13 The application should support a

two-factor authentication system

for login. Second factor of

authentication should be

supported, and it could be either a

PKI based token or biometric

access control. Vendor has to

supply second factor authentication

as part of NGTA solution.

2FA is normally done as an interface with existing

systems available with Bank. Please confirm if

second factor authentication system is required as

part of proposal. Please also confirm if hardware

for deploying 2FA system is to be included in

proposal.

Yes

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


231 3.4 Non-

Functional

Requireme

nts

214

NF-112

Vendor must certify in writing to the

Bank that a security review has

been conducted and risks that are

open is shared with the Bank for

acceptance before release of final

code. The penetration testing

report should be shared with the

Bank.

As per section 2.41.11 (testing) - The

understanding is that VAPT will be conducted by

bank or third-party employed by bank. No specific

VAPT tools to be factored in the environment.

Is this related to the VAPT to be done by the

vendor before delivering the code to the RBI.

Yes

232 3.4 Non-

Functional

Requireme

nts

215

NF-122

Vendor should provide the

automation test scripts.

Please provide details of the tools that are used to

run automated tests.

Bidder to recommend and provide

the tools.

233 3.1

Functional

Requireme

nts

102 CR-

103

Application should enable

processing of portfolio data and

market data to enable an excel

output that may be processed on

engines like MATLAB VaR Engine.


capability for providing interface

with the VaR engines.

Is RBI using any external system for calculation of

VAR Computation such as MATLAB VaR engine

and requirement for interfacing with same is in the

scope of NGTA. Kindly confirm.

Yes

234 3.1

Functional

Requireme

nts

106 MR-

15


capability for providing interface

with the VaR engines like MATLAB

VaR engine.

Is RBI using any external system for calculation of

VAR Computation such as MATLAB VaR engine

and requirement for interfacing with same is in the

scope of NGTA. Kindly confirm.

Yes.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


235 3.1

Functional

Requireme

nts

95 CR-

24

- In case of quantitative

parameters (e.g. debt outstanding,

equity shares tier1 capital ratio etc),

NGTA should fetch this from

market data platform.

"NGTA should fetch this from market data

platform". Please elaborate with example from

Treasury business perspective also provide the list

of Market data providers to be interfaced with

NGTA

Illustrative list of Market data

provider is mentioned in the RFP.

236 3.1

Functional

Requireme

nts

96 CR-

32

- In case of quantitative

parameters (e.g. debt outstanding,

GDP, fiscal deficit, current account

deficit, inflation, equity shares tier1

capital ratio etc), NGTA should

fetch this from market data

platform.

"NGTA should fetch this from market data

platform". Please elaborate with example from

Treasury business perspective also provide the list

of Market data providers to be interfaced with

NGTA

Illustrative list of Market data

provider is mentioned in the RFP.

237 3.1

Functional

Requireme

nts

77 FO-

12

- Duration Impact: Include

Cash and futures, allow users to

indicate a target duration and list of

securities and should suggest the

proportion / value that should be

bought to reach the target duration

Kindly provide more detail on the requirement It should be part of What If

simulation capability. User should

be able to put a desired

duration/currency composition at

portfolio level and application

should suggest deal scenarios

based on this.

238 3.1

Functional

Requireme

nts

95 CR-

22

Indicative Process for counterparty

eligibility:

Please confirm on "Indicative Process". Is this

specific to RBI model? Please provide more details

This is specific to RBI and will be

shared with the successful bidder.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


239 1.2 15 3&4 The hard copies of the required

documents as per submission

checklist given at

Annexure Z (except the

Commercial Bid checklist which is

only to be uploaded on

MSTC e-commerce portal and not

to be submitted in hard copy)

should be submitted

in a sealed cover at the following

address:

– Chief General Manager-In-

Charge, Reserve Bank of India,

Department of External

Investments and Operations, 22nd

Floor, Shahid Bhagat Singh Road,

Mumbai-400001

Request RBI to confirm the due date & time for

submission of hard copies of the documents given

in Annexure Z to RBI. The Commercial bids have

to be only submitted in MSTC e-commerce portal

and no hard copy has to be submitted. Please

confirm if the understanding is correct

Due date and time: September 07,

2021; 12 noon. The understanding

is correct.

240 7.2 240 4 The Bidder shall pay the

registration charges as indicated in

the MSTC e-commerce

portal in order to participate in the

Bid

The portal did not prompt for the payment of

registration charges in order to participate in the

bid. Please advise, the procedure for making the

payment - if any

Please check with MSTC contact

point provided in RFP.

241 7.6 242 3 The Integrity Pact and Non-

Disclosure Agreement is required

to be signed by both parties i.e. the

Bank and the Bidder.

Please suggest the procedure for getting the

signatures of the RBI on the Integrity Pact and Non-

Disclosure Agreement prior to submission of the

final bid on the portal and hard copy of the

technical bid

RBI will sign this during contract

finalization. The bidder should

submit the annexures signed by

authorised signatory during the

RFP submission.

242 9 326 Annexure

X

Undertaking from Bidder on

support-SI

If the OEM and the SI is the same entity, do

separate Annexure X and Annexure Y to be

submitted OR if RBI would be providing a separate

format in such instance

Annexure Y will be sufficient, if

OEM is bidding for the project.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


243 9 329 Annexure

Z/

Annexure

A (EMD)

The Bidder has to ensure that the

following have been submitted as a

part of the RFP submission

process. These documents have to

be uploaded on the MSTC e-

commerce portal as well as in hard

copy. Failure to provide any of the

documents as detailed below could

lead to the disqualification of the

Bidder from the bid. The following

documents/ items need to be

submitted in the specified format

Our understanding is that the soft copy of the EMD

has to be uploaded in the MSTC portal and the

original EMD in the form of a bank guarantee to be

submitted in Hard copy along with the other

documents required as per Annexure Z. Please

confirm if the understanding is correct.

Yes

244 9 313 Annexure

W:

Manufactur

er’s/

Developer’

s

Authorizati

on Form

(MAF/DAF)

To be filled by OEM for software

application/ hardware/ system

software/ RDBMS/ any other

suites, whatsoever applicable

separately

We are the OEM for the proposed application

(treasury solution) and also, since we are only

proposing the sizing of the infrastructure and listing

the Bill of Materials (BOM), Should we provide MAF

or will it be Not Applicable in this case? Request

the bank to clarify.

Any component which is not

provided by the Bank and is

required as part of total solution,

then vendor has to provide MAF for

those components.

245 CR-104 102 3.1

Functional

Requireme

nts

Application to enable calculation of

credit risk for both on balance

sheet and off-balance sheet items

based on Basel standardised

approach.

As per the RBI documentation on ECF , the credit

risk is to be computed using the Standardised

method. We assume RBI will provide us with the

necessary data points ( if any ) such as crediting

rating based (%) that needs to be applied to the

counterparty exposure.

Yes

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


246 CR-107 102 3.1

Functional

Requireme

nts

Application should also calculate

operational risk requirements

based on Basel methodology.

As per the RBI documentation on ECF , the

operation risk is to be computed using the basic

indicator method. We assume RBI will provide us

with the necessary data points ( if any ) outside

treasury portfolio for computation of the same.

Yes

247 SD-99 150 3.1

Functional

Requireme

nts

- Supports calculation of

Nominal effective exchange rate

(NEER) and Real effective

exchange rate (REER).

Does the system has to compute the nominal rate

by adding the real interest rate + Inflation % , or

we assume that these details will be provided by

3rd party data providers.

The base data will be provided to

the NGTA through the relevant

portals. The application should

have the capability to process and

calculate NEER and REER.

248 SD-100 150 3.1

Functional

Requireme

nts

- Facility required to manually

calculate these rates by fetching

relevant details like WPI, CPI,

basket of currencies etc.

Does the system has to compute the nominal rate

by adding the real interest rate + Inflation % , or

we assume that these details will be provided by

3rd party data providers.

The base data will be provided to

the NGTA.The application should

have the capability to process

these and calculate desired rates.

249 3.3

Technical

Requireme

nts

188 TC-9 Bank shall prefer separate

database for reporting.

Is the reporting infrastructure required to be

supporting High Availability ?

As per RFP

250 3.3

Technical

Requireme

nts

189 TC-20 Development, Test, Staging,

Production etc. environments must

be physically and logically

separated from one another.

What is the requirement for the staging

environment, please elaborate on the usage.

Software/Patches will be deployed

on staging environment and tested

before deployment on production.

251 4 217 4.1

License

Cost

50% of the License Cost indicated

in Item 1 of Annexure U shall be

payable immediately on

deployment in UAT testing phase.

Remaining 50% of License cost

shall be paid after receipt of

Completion Certificate from the

Bank.

Bidder request payment for License cost 100% on

delivery

As per RFP

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


252 5 225 5.6 In case of Rollout delays by the

successful Vendor, the Bank may,

at its discretion, impose a financial

penalty on the Vendor @ 5% of the

total contract value, for every

month of delay, subject to

maximum of 10% of the total

contract value as per the

agreement between the Bank and

the Vendor

Bidder request to cap the penalty to 5% of the

overall total contract value

As per RFP

253 8 250 8.8 Performance Bank Guarantee @

10% of TCV for Implementation

Bidder request bank guarantee to be 3% of the

total contract value

Bidder request cure period of 30 days before

invocation of Bank guarantee

As per RFP

254 8 250 8.9 Financial Bank Guarantee @10%

of TCV for Warranty and TCV

Bidder request bank guarantee to be 3% of the

total contract value

Bidder request cure period of 30 days before

invocation of Bank guarantee

As per RFP

255 8 254 8.18 Liquidated Damages - Cap not

mentioned

Bidder request to Cap the exposure of LD to 5% of

the contract Value

As per RFP

256 8 249 8.6 Cancellation of Contract and

Compensation

Bidder request cure period of 30 days before this

clause is exercised.

Bidder request to Cap the exposure of additional

expenditure to be made at 5% over and above

portion of the undelivered services

As per RFP

257 Annexure

K

288 7 Fall Clause Bidder request deletion of this clause as this is a

competitive bid wherein vendor will be selected

after due process of technical and commercial

qualification. So this clause is unnecessary.

As per RFP

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


258 Annexure

U

313 Commerci

al Bid

Format

Commercial Bid Format Bidder request excel version to be shared for filling

the commercial Bid format

Excel sheet has been shared with

the bidders.

259 Annexure

U

313 6 On-site Support Bidder request payment terms to be shared for

Onsite Support. Bidder further suggest to make it

monthly in advance

As per RFP page Number 218,

section 4.1, point number 6, Onsite

support payment will be year wise

payment at the end of each year.

260 Annexure

U

313 7 Marginal Cost Bidder request payment terms to be shared for

Marginal Cost

Marginal cost payment will be year

wise payment at the end of each

year.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


261 8.3 247 and

303

8.3 Escrow

and

Annexure

Q:

Undertakin

g

Accepting

Escrow

Arrangeme

nt

8.3 Any document, other than the

Contract itself, shall remain the

property of the Bank and all copies

thereof shall be returned to RBI on

termination of the Contract. Without

the Bank’s prior written consent,

the Vendor shall not make use of

any document or information above

except for the purposes of

performing the Contract Intellectual

Property Rights for all major

modules/products developed

specifically for the Bank and will

vest solely with the Bank.

Annexure Q - (b) The Escrow

Material shall be released to the

Bank for its own use or that of its

Affiliates and become the property

of the Bank in the event of:

i. Termination of this Agreement for

material breach of the terms of this

Agreement by ___________ or in

the event of the occurrence of an

Insolvency Event of __________;

or

ii. ____________ ceasing or giving

notice of intention to cease to

provide maintenance or technical

support service for the Software as

required under this Agreement or

Any document, other than the Contract itself, shall

remain the property of the Bank and all copies

thereof shall be returned to RBI on termination of

the Contract except Vendor’s background

Intellectual property rights, deliverables which are

included Vendor’s background Intellectual property

rights and third-party Intellectual property rights.

Without the Bank’s prior written consent, the

Vendor shall not make use of any document or

information above except for the purposes of

performing the Contract Intellectual Property Rights

for all major modules/products developed

specifically for the Bank and will vest solely with the

Bank.

Annexure Q - (b) The Escrow Material shall be

released to the Bank for its own use or that of its

Affiliates and become the property of the Bank in

the event of:

i. Termination of this Agreement for material

breach of the terms of this Agreement by

___________ or in the event of the occurrence of

an Insolvency Event of __________; or

ii. ____________ ceasing or giving notice of

intention to cease to provide maintenance or

technical support service for the Software as

required under this Agreement or corresponding

agreements for AMC / ATS.

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


262 8.4 248

Limitation

of Liability

Neither party shall, in any event,





















contract period.

Limitation of liability will not be

applicable to any legal injuries

suffered by the Bank due to the

Bidder in following scenarios:

- fraud, wilful misconduct, or gross

negligence.

- breach of intellectual property

with respect to third party claims

Neither party shall, in any event, regardless of the

form of claim, be liable for any indirect, special,

punitive, exemplary, speculative or consequential

damages, including, but not limited to any,

business interruption, and loss of income or profits,

irrespective of whether it had an advance notice of

the possibility of any such damages. Subject to the

above and notwithstanding anything to the

contrary elsewhere contained herein, the maximum

liability, of Vendor and purchaser (the Bank) shall

be, regardless of the form of claim (including

indemnities) , in connection with this

Agreement (and/or any purchase order)

restricted to twelve (12) month of charges the

total of bill of material received by Vendor from

the Bank for the event that gave rise to such

liability, as of the date such liability arose, during

the contract period under such relevant PO .

Limitation of liability will not be applicable to any

legal injuries suffered by the Bank due to the

Bidder in following scenarios:

- fraud, wilful misconduct, or gross negligence.

- breach of intellectual property with respect to third

party claims

- breach of confidentiality, cybersecurity breach

or data losses

- breach of any applicable law which is related

to Vendor service industry , both national and

international .

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


263 8.5 249 Indemnific

ation

The Bidder shall also be liable to

indemnify the Bank, at its own cost,

expenses, against all losses/

damages, which the Bank may

suffer on account of violation by the

Bidder of any or all national/

international trade laws, norms,

standards, procedures, etc.

The Bidder shall also be liable to indemnify the

Bank, at its own cost, expenses, against all losses/

damages, which the Bank may suffer on account of

violation by the Bidder for infringement of

Intellectual Property Rights of third party any or all

national/ international trade laws, norms,

standards, procedures, etc.

"Vendor requests for a process or procedure to be

agreed in the event of indemnification under the

contract ('Indemnification Procedure'). In this

context, Vendor proposes the below clause:

Notwithstanding anything stated to the contrary

under this Agreement, indemnities under this

Agreement shall be limited to third-party claims and

subject to the below indemnification process:

Vendor shall indemnify Bank in accordance with

the applicable terms of this Agreement for matters

where it is legally liable and pay such amounts as

are finally awarded by a court against the provided

Bank (i) promptly notifies the Vendor in writing of

the claim; (ii) supplies information required by the

Bank; and (iii) allows the Bank to control and

reasonably cooperates in the defence and

settlement, including mitigation efforts

(“Indemnification Process”).

Bank shall provide Vendor with prompt notice of

such claim and allow Vendor to control the defence

of such claim.

Any third-party IP or product will be provided in

accordance with respective third party’s terms and

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


264 8.3 257 Ownership The ownership of the source code

and design for the NGTA specific

to the Bank and all related

application suites, interface

designs, customisations design

etc., and related Intellectual

Property Rights (IPR) shall vest

with the Bank only.

The ownership of the source code and design

for the NGTA specific to the Bank and all

related application suites, interface designs,

customisations design etc., and related

Intellectual Property Rights (IPR) shall vest with

the Bank only. All Intellectual Property Rights

developed or customized by Vendor, its

affiliates, subcontractor(s) or third parties, in

connection with this Agreement, including

deliverable developed for the Bank and/or

jointly with Bank except for pre-existing

Intellectual Property Rights shall be owned by

Vendor. Vendor grants to Bank non-exclusive,

non-transferable, worldwide, royalty free

license, license to use the Vendor’s Intellectual

Property Right solely for Bank’s internal

business purposes and warrants that it has the

right to grant such a license.

As per RFP.

SI.

No.

RFP

Section

Number

RFP

Page

Number

RFP Point


265 8.11 251 Force

Majeure

Vendor requests the below additions to this

clause;

• The ongoing impact of Novel Coronavirus

Disease (“COVID-19”), including but not limited

to any governmental measures, is deemed to

be a Force Majeure event under this clause.

• A Force Majeure event will not relieve any

Party from its payment obligations under the

Agreement.

• Vendor may, due to the Force Majeure event,

relocate any personnel, software or equipment

used to perform Services.

• If the event of Force Majeure (or ongoing

impact of Novel Coronavirus Disease (“COVID-

19”) continues) occurs prior to commencement

of operations, then Vendor shall be entitled to

get reasonable additional time to commence

the services.

As per RFP.

266 Data

Migration

53 2.38 The total timeframe for the go-live

will be 12 months from the date of

issue of Purchase Order.

Request the Bank to confirm the quantum of data

to be migrated in terms of the cut-off date from

which the data is to be migrated. In case the entire

historical data is to be migrated, will the Bank be

open to migration with a cut off date and remaining

historical data can be migrated with a slightly

extended timeline?

Entire historical data has to be

migrated. The quantum of data will

be in tune of 100-120 GB. It is

expected to complete the entire

data migration during the timelines

mentioned in the RFP.