RESERVE BANK OF INDIA FOR XBRL BASED DATA SUBMISSION PHASE III. October 30, 2015

Transcription

1 RESERVE BANK OF INDIA REQUEST FOR PROPOSAL (RFP) FOR DEVELOPMENT, IMPLEMENTATION AND MAINTENANCE OF XBRL BASED DATA SUBMISSION PHASE III October 30, 2015 This document contains 48 pages inclusive of covering page and annexures. This document is the property of the Reserve Bank of India (RBI). It may not be copied, distributed or recorded on any medium, electronic or otherwise, without obtaining the written permission of RBI. The use of the contents of this document, even by the authorised personnel / agencies for any purpose other than the purpose specified herein, is strictly prohibited and shall amount to copyright violation and thus, shall be punishable under the Indian Law.

2 Table of Contents Chapter Subject Page No 1 Time Schedule 3 2 Introduction 4 3 Structure of RFP 5 4 Overview of the existing system 6 5 Existing Information Technology (IT) Set up 8 6 Scope of Work 8 7 Instructions to the Bidder 14 8 Post Implementation and Support Requirements 17 9 Terms and Conditions Payment Terms and Milestones Evaluation Process and Award of Contract Proposal Responses Annexure ( I to V) 28 Page 2 of 48

3 1. Time Schedule The following is an indicative timeframe for the overall process. The Reserve Bank of India (RBI) reserves the right to vary this timeframe at its absolute and sole discretion and without providing any notice/intimation or reasons thereof. Changes in the timeframe will be communicated to the bidders during the process. Sr. No. Activity Scheduled Date/Time 1. Issue of RFP on RBI website, Newspaper October 30, Last Date for Receipt of Queries related to RFP November 10, Pre Bid Meeting November 20, Last Date for Submission of RFP November 30, 2015, 3.00 pm 5. Opening of Eligibility Criteria and Technical Bids November 30, 2015, 3.30 pm 6. Opening of Commercial Bids Will be announced later 7. Declaration of Final Result Will be announced later Page 3 of 48

4 2. Introduction 2.1. As a part of the regulatory and supervisory functions bestowed on it, the RBI collects data in fixed formats (called 'Returns') from banks, financial institutions, authorised dealers and non-banking financial institutions. These returns are being managed by the various departments of the RBI (referred to as user departments henceforth). In order to implement the best practice, technology solutions in reporting, the RBI introduced the extensible Business Reporting Language (XBRL) in the year 2008 using internet and Indian Financial Network (INFINET). The XBRL project at the RBI is being implemented in phases. The first phase of XBRL started in the year 2008 and seven returns were developed under the XBRL system in the phase I. Phase II of the XBRL project started in the year 2012 and the development of another 90 returns were taken up. A total of 97 returns have been taken up under the XBRL in two phases (for details see The RBI is now considering extending its coverage by introducing another set of 95 returns in the Phase III of this project (List of returns given in Annex- I) Objective of Phase III The Phase III of the XBRL project which involves the XBRL development of 95 returns should seamlessly integrate with earlier XBRL projects under the first and second phases. The project should ensure standardisation and uniformity in data submission. The project should target the creation of a single point of submission and dissemination. Data consistency should be improved through proper validations. Page 4 of 48

5 3. Structure of RFP The RFP includes the Master RFP and the Annexures seeking responses for evaluation. 3.1 The Master RFP The Master RFP consists of: Overview of the Existing System Existing Information Technology (IT) Setup Scope of work Instructions to the Bidders Post Implementation Support Requirements Terms and Conditions Payment Terms and Milestones Evaluation Process and Award of Contract Proposal Responses 3.2 Annexure Seeking Response for Evaluation A detailed set of annexures is provided to the bidder for the formulation of responses for the evaluation covering sections such as List of returns, Format of Commercial Bid, Format of Performance Bank Guarantee / EMD, Non-Disclosure Agreement, etc. Page 5 of 48

6 4. Overview of the Existing System XBRL based data submission has been implemented for 97 returns. The list of returns is available on XBRL based data submission application software has facilities like off-line data entry, data upload, view, print, save and validate. The XBRL templates for each of these returns are available online and can be downloaded in Excel format for offline data entry. Any change in these templates/taxonomies is necessarily notified immediately on the XBRL site for information to the users. The excel template has an in-built validation facility, to generate XBRL instance document and enable encryption. The encrypted XBRL instance document is uploaded on the XBRL site after proper user authentication. The XBRL system can also accept XBRL instance document generated directly from the source system of the reporting entities (i.e., without using Excel template) and upload the XBRL instance document on the XBRL site. Besides serving as a data submission platform, the XBRL system has the following features: 4.1. User Management Module i. At the RBI's end, the user management module has the following functionalities: a) There is an RBI Admin to manage the entire system of XBRL b) The RBI admin creates Domain Admin for each return within the RBI. c) The domain admin creates the Super User for each return for each bank. ii. For the reporting entity's side, the Super User has the facility to create new users within the bank and assign the role of maker or checker Monitoring the Data Submission by Reporting Entities The XBRL has the following facility for monitoring the data submission of reporting entities: i. Send acknowledgement via along with the error details, if any, for the data submitted ii. Generate status reports, submitted and non-submitted, revised submission etc., for selected period and selected/ all reporting entities iii. Provide alert generation facility in case of delay in submission in a flexible manner 4.3. Report Generation in the XBRL system The return submitted by the reporting entities is validated and the initial data validation reports are generated The XBRL application software allows the reporting entities to view their own submitted returns across the period. The RBI users may also view this report All the reports required by the users of RBI for the returns under phase I are generated from the XBRL database In Phase II of the XBRL project, the XBRL data is moved to the Data Warehouse (DW) at the RBI and reports are generated from DW database by DW vendor. The XBRL vendor is also responsible for mapping the XBRL data to the database in Data warehouse Centralised Repositories of Information on Large Credit (CRILC) module The Centralised Repository of Information on Large Credits (CRILC) has been created within the RBI to collect, store and disseminate data on all borrowers' credit exposures including Special Mention Accounts (SMA 0, 1 & 2) having aggregate fund-based and non-fund based exposure of 50 million and above. The CRILC module has following facilities: Page 6 of 48

7 i. Maintenance of PAN master/ Group master ii. Online PAN validation facility iii. CRILC Reports for reporting entities/ RBI iv. SMA2 alert generation 4.5. Online Complaint Tracking System An online complaint tracking system for reporting entities / user departments of the RBI has been developed under the XBRL system. The system is used to track the issues faced by the reporting entities on a day-to-day basis. 4.6 Master Maintenance Module The existing XBRL system provides front end for Master maintenance. Some of the important masters included are: Country Master, Country Branch Master, Country Exchange Master, Group Master, PAN Master etc. 4.7 Other Features i. The categorical access rights for data view and other activities are implemented based on the users' profile. ii. Version control for the taxonomy and also the data submission application is implemented. These versions are maintained online in the webpage for the taxonomy as well as in the XBRL site. iii. The reporting entities may request for resubmission of data online. The RBI domain admin may allow/ disallow the resubmission. Once allowed, the reporting entities can re-submit the return. iv. A core taxonomy consisting of a unique list of elements across all returns is also prepared, in addition to the taxonomy for each return. v. The XBRL helpdesk team comprising of engineers from the company of the XBRL vendor is responsible for the maintenance of XBRL database, attending to the calls and s of reporting entities and user departments, performing backup activity and disaster recovery activity in the Data Centres. Page 7 of 48

8 5. Existing Information Technology (IT) Setup The existing XBRL system is hosted at the Data Centre of the RBI and the database is Oracle 11g. Reports from XBRL database is generated using Java Programming Language, for returns developed under XBRL phase I. 6. Scope of Work The scope includes design, development, installation, operationalisation, testing and acceptance of the XBRL based data submission system for the returns listed in Annex-I, within the stipulated time frame. The migration of legacy data approximately for the period of 5-7 years on an average for these returns will be under the scope of the project. The scope also includes maintenance of the same system for all the returns for the next seven (7) years, after the expiry of the one year warranty period. The maintenance contract will be renewed on an annual basis subject to the mutually agreed terms and conditions. The RBI reserves the right to discontinue the maintenance contract as per its discretion anytime during the period without assigning any reason. 6.1 The successful bidder (referred to as vendor hereafter) will be given an exposure to study the existing XBRL based data submission platform in place at the RBI. The details about the XBRL system and the XBRL taxonomies for the already developed returns are available on the website ( The proposed XBRL platform should be designed in line with the existing XBRL platform of the RBI. Also, the earlier returns, developed and made operational under the first and second phase, should be treated as an integral part of the project. The phasing of the entire project is only for the purpose of the smooth implementation, and not for designing two different systems. 6.2 The system should be flexible and scalable enough to accommodate modifications in the existing XBRL returns and if required, add new XBRL returns as decided by the RBI. 6.3 The vendor has to develop necessary taxonomies in line with the existing taxonomies developed in Phase I and II of the project. The vendor has to study the taxonomies and its structure developed in phase I and II of this project. All the new taxonomies should be in line with the old taxonomies and should not have any structural conflict. All the elements used in the taxonomy should be uniquely defined. Earlier used elements will be reused wherever required. Care should be taken to identify commonalities with the elements developed in India and abroad for various purposes. A core taxonomy consisting of unique list of elements across all returns should also be prepared (including the returns under phase I and II). 6.4 The taxonomies should meet the international standards of XBRL. The latest available version of the XBRL taxonomy has to be used for designing the new taxonomies. The concept of dimension should be used for better flexibility. The version should be in conformity with the existing taxonomies for better compatibility. 6.5 The taxonomies have to be hosted in the existing web page for Online Reporting available in the public web page of the RBI. In some cases the RBI may host the taxonomies for public comments or the same may be used as an external source for hosting the taxonomies required for the accreditation process by the XBRL International Inc. 6.6 The vendor has to interact with the respective user departments of the RBI for designing the taxonomies. All the linkbases of the taxonomies have to be necessarily built before hosting the same on the website. 6.7 The vendor has to develop a front-end for the submission of data by the reporting entities. This front end should be in line with the existing XBRL system of the RBI. The Page 8 of 48

9 features of the same will be finalized at the stage of preparing the System Requirement Specification (SRS) in consultation with the internal project team of the RBI. The front end should be web enabled and should be accessible using the Internet/INFINET, a closed user group network of the RBI. Keeping in view the long term perspective of this project, the taxonomies should be extensible and should be able to accommodate the future granularity of the existing data elements as well as the new elements. The details of this will be finalized at the stage of the SRS for each return under consideration. 6.8 The existing XBRL system developed in phase I and II has a template based system for data submission. The template should be created based on the available data elements in the taxonomies. The modifications in the taxonomy should get reflected in the document template. 6.9 All the returns considered under this phase should be available for online submission for the reporting entities using the document template designed from the taxonomies and accessing the XBRL application. The XBRL application software for data submission should be compatible with the generally used internet browsers like Internet Explorer, Mozilla, Google Chrome, etc. and compatible with the latest and past versions of the operating systems such as Windows 7, Windows 8 etc The scope includes the development of a system for the generation of all the reports (Excel, pdf formats, etc.) required by the RBI. XBRL data should be moved to the Data Warehouse of the RBI and the vendor has to generate reports on DW database. The vendor would be responsible for the development of both XBRL data submission, as well as report generation, as per the IT infrastructure available at Data Centre. The vendor should create a suitable Oracle database in the Data Warehouse (called DW table) and move the XBRL data after submission. The XBRL vendor should create a view from the DW table and generate the required reports from the view. On an average, five reports for each return are expected to be generated. Some of the required reports may include: the return submitted, report for selected data, report for selected entities, report based on selected elements from different returns and other reports as per the requirement of the user department The XBRL data submission system should provide a platform for uploading XBRL instance document for the returns generated by the users using the taxonomy developed by the RBI and hosted on its website ( The vendor would be responsible for implementing adequate information security measures like access control, authentication mechanism, login using digital signature certificates (SHA-2 with 2048 bit encryption key or the latest), as per the requirements During the course of the project, the vendor is expected to carry out system study of the returns under development. The returns having similar elements should be taken up together, as a group of returns for development The taxonomy should be designed based on element based approach, so as to facilitate the extraction of data directly from the source system of the reporting entities. While preparing the taxonomies for any return the vendor would be required to visit the user department, with prior appointment from the nodal officer of that department, to discuss the requirements. During the course of interaction with the departments of the RBI, the vendor is expected to understand the detailed definition of the data elements of the return concerned and cross check with the existing data elements, if any, in other taxonomies. Any definition conflict of the data elements should be resolved in consultation with the concerned department. The information regarding other linkbases, especially for reference linkbases, should be collected from the concerned department In a similar way, if necessary, in consultation with the RBI project team, the vendor would be required to visit a few selected Mumbai based reporting entities to understand Page 9 of 48

10 the process flow at their end for data accumulation for the purpose of submission of these returns to the RBI The vendor has to prepare a document on SRS for each of the returns included under this phase. The format of SRS reports, including detailed coverage of the same, will be finalized in consultation with the RBI internal project team. The SRS, so prepared, will be duly signed by the vendor and the representatives from the user department on acceptance The vendor is expected to carry out in-depth study of existing XBRL framework and functionalities. The new returns should be submitted using the XBRL frontend which must be in line with the existing XBRL frontend developed in the first and second phase of XBRL project. The new returns template should be similar to the other returns template developed under phase I and II. Any integration with the existing framework has to be done by the vendor in consultation with the internal project team of the RBI No separate module for data submission is expected to be developed under this system by the vendor for reporting entities. They should be able to download XBRL application in a well-accepted format (in Excel) to use for offline data entry and generate the instance document for further upload in the XBRL system The system should also have facility to upload, validate and process the XBRL instance document generated directly from source system of the reporting entities, without using Excel template XBRL based data submission application software should have facilities like data entry, data upload, view and print, save and validate. The facilities should be same as the available in the existing XBRL platform of the RBI. Validators should be provided for all taxonomies Version control for the taxonomy and also the data submission application containing the template of the return has to be implemented. These versions should be maintained online in the webpage for the taxonomy as well as in the XBRL submission page for the application software. Data upload facility should be based on using XBRL enabled instance document. The XBRL templates for each of the returns should be available online and can be downloadable in spreadsheet format for offline data entry. Any change in these templates/taxonomies should be necessarily notified immediately in the XBRL site for information to the users The XBRL application software should allow the reporting entities to view their own submitted returns across the period. However, the facility of resubmission of data should not be a default facility except under exceptional circumstances where resubmission is called for by the RBI. The same should require an administrative intervention by the RBI The XBRL application software should provide a facility for sending acknowledgement with submitted data to the users after the data are received at the RBI The vendor has to provide the platform for generating the initial data validation reports and the reports required by the RBI. In addition, the vendor would be responsible for mapping the XBRL data to the database in Data warehouse and generate reports. The solution should integrate seamlessly with the existing administrative module in the XBRL system, used to monitor the submission process and also used for various administrative purposes Separate validators should be provided for the returns in the XBRL application software The legacy data migration for approximately 5-7 years on an average for each return to the new system is under the scope of this project. The data has to be migrated to Data Warehouse environment of the RBI, for report generation The XBRL database will be maintained centrally at Data Centre(s) of the RBI. There will be a seamless integration between the XBRL system and the Data Warehouse system of the RBI. All the reports, including the data validation reports, of the various returns required by different users from the departments will be generated from XBRL system. Page 10 of 48

11 The reports should be generated after moving the data to Data warehouse. A real time data updating facility from XBRL database to Data Warehouse has to be provided. Users will login to the XBRL system for various administrative purposes like returns management, user management, supervising the submission status etc., and also for report generation The vendor should meet all the requirements of backup plan and Disaster Recovery Plan, as per the RBI s policy. The uploading/downloading requirements, housekeeping requirements, operational requirements and future capabilities, deployment of application in data centre, implementation requirements, interfaces with other systems and issues regarding Security and Controls have to be comprehensively taken care of and provided in the total solution A Master Maintenance Module (Front End for Add, Edit, Delete, Print and View) and the related reports should be part of the solution. The important masters to be included are the Industry/ Activity Master, the Currency Master, the Non-Banking Finance Companies (NBFCs) Master and the Company Master The development will be done off-site. The solution must integrate with existing XBRL system, as given in section 4 (Overview of the Exiting System) The vendor is required to use any standard methodology for effort estimation, like Function Point Analysis, for all purposes as will be required under this project Acceptance tests for the deliverables The taxonomies will be vetted by the internal project team of the RBI along with the user department before starting the development. On finalization, the vendor has to make all arrangements to publish the same in the XBRL web page of the RBI The vendor may have to make necessary arrangement to get the taxonomies vetted by XBRL international Inc. and submit certificate(s) to the RBI, if required The XBRL application software has to be deployed in the test environment available in the Data Centre. After detailed test carried out by the vendor, the software will be tested thoroughly by the internal project team of the RBI, along with the user department After thorough testing of the application software by the internal team, the vendor needs to present the software before a selected group of users for further testing and verification. Vendor has to arrange a user hands on during the presentation itself The final Users Acceptance Test (UAT) shall be carried out on the Total Solution jointly by the representatives of the RBI and the vendor The UAT shall be as per the comprehensive Acceptance Test Plan document to be prepared by the vendor and accepted by the RBI which shall contain various tests, including test cases, to be performed for acceptance of the Total Solution offered by the Vendor. The Acceptance Test shall be deemed to be completed only on successful completion of the acceptance tests and issuance of the Acceptance Certificate by the RBI to the vendor The Acceptance Test Plan document shall be deemed to form a part of the Agreement, to be signed between the vendor and the RBI On the evaluation of the Acceptance Test results, if required, the vendor shall take remedial measures including up-gradation of the Total Solution or of any component thereunder, including replacement thereof, at no additional cost to the RBI, to ensure that the Total Solution meets the requirements of the RBI as envisaged in the Tender Document Composition of Project Team The vendor must warrant that the key project personnel to be deployed in this project have been sufficiently involved in similar projects in the past and have the requisite domain expertise. Page 11 of 48

12 The vendor will also warrant that in any stage of the project, they will not disturb the team combination, as far as possible, as will be indicated during bidding. However, the vendor should make all effort to retain the key personnel in the team till the end of the delivery of each module/return The vendor should also warrant that in case of need they will be in a position to increase the team size. Experts with additional capabilities may join the team for value addition at any point during the project Bio-data of the key project personnel may be submitted along with the technical bid. The bio data should clearly indicate his qualification and experience in this area Project Timeframe Time frame for the project for the complete solution (user acceptance tests, live deployment and migration) is 24 months from the date of the agreement Time frame indicated above has to be strictly adhered to The overall project timeframe is for completion of the entire project. The vendor has to submit return/group of returns wise project plan along with the technical proposal. It is expected that the vendor will take up the activities for different sets of returns parallel, so as to complete the entire work, well within the planned timeframe Helpdesk The XBRL helpdesk team should be responsible for the maintenance of XBRL database, attending to the calls, s of reporting entities, users, backup activity and DR activity carried out in the data centres The bidder shall deploy qualified professionals for maintaining helpdesk The helpdesk engineer shall operate, monitor, manage and configure the system during the business hours of the RBI. The RBI may call the helpdesk engineer during nonbusiness hours, also, if required The helpdesk engineers should be well trained customer support engineer in all respects i.e. well mannered, good communication skill, technically sound, having vast knowledge in the field and can take decision with reference to any emergency / new requirements from the RBI and need not wait for response from the company to avoid delays The helpdesk should give weekly pending calls report, monthly report etc. and any kinds of reports whenever required by the RBI Project Manager Upon award of the contract, the bidder shall assign a full time Project Manager, who will act as a single point of contact and for escalation and management of issues that may arise in respect of the delivery of the proposed solution outlined in the document The Project Manager shall have the overall responsibility for coordination of the work; assist the RBI or its user departments during regular visits The Project Manager shall be responsible for consistent and uniform project delivery throughout the execution phase and have the authority to control all aspects of the job The Project Manager should provide the management interface facility and will have the responsibility for managing the complete service delivery during the contractual arrangement with the RBI The Project Manager should be available during the normal RBI working hours on all the RBI working days. However, if the RBI decides that their services are required beyond normal working hours, the Project Manager needs to be present at site The Project Manager will track and control the project delivery, daily/ weekly reports to be submitted to the RBI. Page 12 of 48

13 The Project Manager should conduct weekly review with all the stakeholders of the project The Project Manager should be responsible for the preparation and submission of escalation matrix for various teams involved in the project, Report on progress of the project should be submitted by the Project Manager in the weekly meeting to the RBI and should give explanation, if project get deviated from the PERT chart submitted. The weekly meeting between Project Managers from both the side will continue till the entire project is over Other Responsibilities of the Vendor In case, the vendor intends to use any third party software/ tool for the purpose of taxonomy development or report generation, the same has to be clearly indicated in the technical bid. The documentation of the proposed third party software/tool explaining its features and reasons supporting its use for the proposed system in comparison to the tools available in the market should be clearly indicated. The limitation of the software/tool should also be indicated clearly in the document. However, the limitations of the tool will not be treated as a limitation for development. The system has to be customized based on the requirements stated by the RBI It will be the sole responsibility of the vendor in case there is a violation of proprietorship of any third party software used for developing the system. The vendor has to bear the cost of purchasing the necessary licenses, if any, for any third party software used for the development of taxonomies and is also required to bear the cost of installation of the requisite licenses for the users of the RBI The vendor should document properly each and every stage of the development, including the source codes and hand over the source codes and all the related documents to the RBI The taxonomies, application software, source codes, related products, documents, manuals and any other related item generated as a direct product from this project or as a by-product to this project are the property of the RBI. The vendor is not authorized to use any material proprietary to the RBI elsewhere, either in part or full, without prior written permission of the RBI The project terms and conditions will be governed by the Agreement entered into between the RBI and the vendor after awarding the Project The Intellectual Property Rights (IPR), ownership of the source code of the system will remain with the RBI. The vendor should hand over the complete source code of the solution to the RBI immediately after the deployment of the solution in the live environment. The same should be submitted in CD/DVD along with the User Acceptance Test (UAT) certificate signed by the user department and the vendor jointly The RBI reserves the right to verify any or all statements made by the bidder in the tender document and to inspect the bidder s facilities, if necessary, to establish to its satisfaction about the bidder s capacity to perform the job. The technical evaluation will be based on such information. Page 13 of 48

14 7. Instructions to the Bidders 7.1 Eligibility Criteria Sl.No. Criteria 1. The bidder must be a legal entity and a company incorporated in India and registered under Companies Act The turnover of the bidding company (not parent company) during the last three financial years must not be less than 5 Crore each year with a positive net worth. Audited Balance sheet of the last three years should be submitted as proof of the same. 3. The bidder who has not satisfactorily completed any of the earlier contracts with the RBI and/or who have been debarred or black listed by the Government/ Government agency/ Banks/ Financial Institutions in India in the past, will not be eligible for the tender. 4. The bidder must demonstrate that it has been engaged with at least ONE major project on development and implementation of 'XBRL based data submission system' either within or outside the country during last 5 years. All the application referred by the vendor should be in use. The supporting documents for the above criteria must be submitted by the bidder. The bidder must submit original EMD and Non-disclosure agreement, as per Annex IV and V respectively along with the envelope containing eligibility. 7.2 Three-Stage Bidding Process Three stage evaluation processes will be followed. The eligible bidder will be first selected based on the eligibility criteria (given above). The technical bids of the eligible bidders will be evaluated based on parameters (given in Annex II(B)). The third stage is the evaluation of the commercial bids submitted by the bidders. 7.3 Bid Submission The bidders are not permitted to submit more than one bid. The bidder has to offer the best solution available with him. The cost of bidding and submission of the bids is entirely the responsibility of the bidder, regardless of the conduct or outcome of the tendering process Sealed bids in accordance with the instructions should be delivered on or before 3:00 p.m. on November 30, Bids may be sent by registered post or hand delivery, so as to be received at the following address: The Director, Systems Management Division, Department of Statistics and Information Management, Reserve Bank of India, 7th floor, C-9, Bandra-Kurla Complex, Bandra(E), Mumbai , India Bids received after 3:00 p.m. on the aforesaid date will not be accepted under any circumstances. The RBI will not be responsible for any delay due to postal service or any other means The bidder must send the proof of delivery by courier/ post by . Page 14 of 48

15 7.4 Site Inspection The bidder shall give references (preferably in India) for carrying out at least one site inspection opportunities where the bidder has completed a major project of similar type. 7.5 Instructions for Sealing and Marking of Bids The bid containing the information regarding the eligibility criteria in original and labelled 'Original Bid for Eligibility for Development, Implementation and Maintenance of XBRL based Data Submission in RBI' shall be sealed and addressed to the addressee as indicated earlier The soft copy of this bid should also be submitted in Microsoft Word document format in a CD and enclosed in 'Original Bid for Eligibility for Development, Implementation and Maintenance of XBRL based Data Submission in RBI' Technical bid in original and labelled Original Technical Bid for Development Implementation and Maintenance of XBRL based Data Submission in RBI' shall be sealed and addressed to the addressee as indicated earlier The soft copy of the Technical Bid should also be submitted in Microsoft Word Document format in a CD and enclosed in Original Technical Bid for Development Implementation and Maintenance of XBRL based Data Submission in RBI' Commercial bid in original and labelled Original Commercial Bid for Development Implementation and Maintenance of XBRL based Data Submission in RBI' shall be sealed and addressed to the address as indicated earlier The soft copy of the Commercial Bid should also be submitted in Microsoft Excel format in a CD and enclosed in Original Commercial Bid for Development Implementation and Maintenance of XBRL based Data Submission in RBI' All the aforesaid sealed covers of the bids should finally be submitted in a sealed cover labelled 'Original Bid for Development Implementation and Maintenance of XBRL based Data Submission in RBI'. Any commercial information appearing anywhere, other than the commercial bid, will lead to the disqualification of the vendor for further processing. No clarification will be sought from the RBI in such case. 7.6 Clarification on the Tender Documents Written requests for clarification regarding the RFP may be sent by . Clarifications to queries may be raised through s only. Clarifications sought through any other means will not be entertained by the RBI. The clarifications will be published on the public webpage of the RBI as amendments to the RFP A pre-bid clarification meeting will be convened by the RBI tentatively on November 20, 2015 at conference room of the RBI in C-8, 4th floor, BKC, Bandra(E), Mumbai-51 at 2:30 p.m. The prospective bidder interested in attending the meeting are required to register by sending a confirmation mail by 2 p.m. on November 17, 2015 detailing the clarifications required referring the respective paras of the RFP. A maximum of two representative of the bidder will be allowed during the pre-bid meeting. Any change in the date, venue and time will be intimated through the website ( 7.7 Amendments to Tender Documents Amendments, if any, to the tender document may be issued by the RBI through website, well before the deadline for submission of bids. The bidder is requested to browse the RBI website regularly From the date of issue, amendments to tender document shall be deemed to form an integral part of the tender document. 7.8 Documents Comprising the Bid Page 15 of 48

16 All bidders shall submit a tender response duly completed, as outlined in Annex II to V. The format of the letters to be attached to the Eligibility, Technical and Commercial Bids are indicated in Annex II (A, B & C). The bidder must submit three separate envelopes for Eligibility criteria, Technical and Commercial bid. 7.9 Period of Bid Validity The Bids shall be valid for a period of ONE YEAR from the closing date for submission of the bid Format and Signing of Bid The bids shall be typed or printed in a clear typeface. An accompanying letter is required, signed by an authorised signatory of the bidder, committing the contents of the response Domestic Presence of the Bidder The bidder will have to have a presence in Mumbai, during the entire period of contract Acceptance or Rejection of Bid The RBI reserves the right not to accept any or all bid(s), or to accept or reject a particular bid at its sole discretion Condition of Engagement The engagement of the successful bidder with this project would be till the successful implementation and for a further period for providing the Annual Maintenance Services as would be indicated in the bid. The RBI reserves the right to terminate the services of the successful bidder at any point of the project stating appropriate reason therefor The RBI engages and appoints the vendor to provide services as detailed under the scope of the project in consideration of the remuneration payable by the RBI to the vendor. Page 16 of 48

17 8. Post Implementation Support Requirements 8.1 Warranty The warranty period for the application software provided by the vendor should be for a period of one year from the date of acceptance of the software by the RBI. During this period, any type of maintenance will be the responsibility of the vendor with no additional costs to the RBI. The vendor is required to provide the following support during the warranty period: i. Respond to calls for troubleshooting within two hours ii. Make configuration and customization of the solution as and when required iii. Undertake periodic preventive maintenance iv. Provide performance tuning of the system in terms of accessibility and efficiency v. Provide support for any other reason that affects the normal functioning of the solution vi. Provide day-to-day maintenance of the total solution 8.2 Annual Maintenance Contract(AMC) The vendor has to provide Annual Maintenance Services for 7 years after the expiry of one year warranty period of the application software provided by them along with other components which are part of the application software. The rate for providing this service should be quoted by the bidder in the commercial bid. The bidder is supposed to furnish the first year maintenance cost in the commercial bid, which will remain the same for the first three years. The cost for the Annual Maintenance Services from the fourth year till the seventh year will be calculated based on the following formula. A = B { x (WPI / WPI ) + 40 (CPI / CPI p ) } x 1/100 C P C P C where, A = The application software maintenance amount for the current year. C Bp = The application software maintenance amount for the previous year. WPI = Wholesale Price Index for the month generally 6 months prior to the C commencement date of AMC for the current year. WPI = Wholesale Price Index for the month generally 6 months prior to the P commencement date of contract for the previous year. CPI c = Consumer Price Index for Urban for all India for the month generally 6 months prior to the commencement date of contract for the current year. CPI p = Consumer Price Index for Urban for all India for the month generally 6 months prior to the commencement date of contract for the previous year AMC amount shall be paid on quarterly basis after the expiry of the quarter upon rendering satisfactory services. No advance payment will be made by the RBI in any case The maintenance agreement, as and when executed with the vendor, shall be for the duration of one year only and the same will be renewed annually under the same terms and conditions as per the discretion of the RBI. The RBI reserves the right to terminate the agreement anytime without stating any reason The RBI reserves the right to decide the period from which the returns developed in Phase I and II of the project will be brought under the AMC with the selected vendor. Page 17 of 48

18 9. Terms and Conditions 9.1 Prices All prices should be quoted in Indian Rupees ( ). The prices will be firm and stable and not subject to any price escalation The charges for travel within or outside India, stay, conveyance etc. for the purpose of this project will not be charged extra to the RBI. The entire cost in this regard will be borne by the vendor. 9.2 Taxes and Duties Taxes, duties, charges and levies of State or Central Governments, as applicable and subject to deduction of all statutory deductions applicable, should be mentioned clearly, if the same needs to be paid by the RBI. The benefits realised by the vendor due to lower rates of taxes, duties, charges and levies shall be passed on by the vendor to the RBI. If vendor fails to mention it clearly, the quoted cost will be treated as all inclusive and no separate taxes, charges, levies, etc. will be paid. 9.3 Confidentiality The bidder agrees that all financial, statistical, marketing and personnel data relating to the RBI s business and other information identified as confidential by the RBI will be kept as confidential information of the RBI The bidder has to maintain all secrecy regarding the data reported by the reporting entities in different returns, while developing the system. Any violation of this resulting in data disclosure or in any other kind would be considered as a breach of the contract. 9.4 Indemnification The vendor shall, at its own cost and expense, defend and indemnify the RBI against all third-party claims including those of the infringement of Intellectual Property Rights, including patent, trademark, copyright, trade secret or industrial design rights, arising from the use of the products or any part thereof in India. This includes any claim arising due to unauthorised use of any third party software/tools The vendor shall expeditiously meet any such claims and shall have full rights to defend itself therefrom. If the RBI is required to pay compensation to a third party resulting from such infringement, the vendor shall be fully responsible therefor, including all expenses and court and legal fees, even after the expiry of the terms of the project The vendor shall also be liable to indemnify the RBI, at its own cost and expenses, against all losses/damages, which the RBI may suffer on account of violation by the vendor of any or all national/international trade laws, norms, standards, procedures etc. 9.5 Site Visits Site visits may be sought at the discretion of the RBI. The vendor shall provide, in addition to customer sites, an invitation to the RBI to visit the vendor's own site. 9.6 Audits The RBI can conduct any third party inspection/ audit for any phase. The vendor should make all necessary changes as mentioned by the results of these audits The RBI will incur the cost of appointment of a third party for audit. Only after the successful completion of the third party audits, will the vendor be allowed to proceed to the next phase. Page 18 of 48

19 9.7 Notification of Award The acceptance of the offer from the selected bidder will be communicated in writing to the address supplied by the bidder in his letter of intent. Any change in address of the bidder should therefore be promptly notified to the RBI. 9.8 Earnest Money Deposit (EMD) The vendor shall submit EMD to the Director, Systems Management Division, Department of Statistics and Information Management, Reserve Bank of India, Mumbai, along with its bids containing a Bank Guarantee from a scheduled commercial bank, payable on demand for an amount of Five Lakhs only, towards Earnest Money Deposit (EMD) as per the format given in Annex IV. The EMD bank guarantee should have validity up to 180 days from the last date of submission of the bids The EMD of unsuccessful bidders shall be returned within 15 days from the date of award of the project. The EMD of the successful bidder shall be returned after the successful bidder furnishes the Performance Bank Guarantee Offers made without the EMD will be rejected The amount of the Earnest Money Deposit would be forfeited in the following scenarios: i. In case the bidder withdraws the bid prior to the validity period of the bid for any reason whatsoever; or ii. In case the successful bidder fails to accept and sign the contract as specified in this document for any reason whatsoever; or iii. In case the successful bidder fails to provide the Performance Bank Guarantee within 15 days from the date of placing the order by the RBI or signing of the contract, whichever is earlier, for any reason whatsoever. 9.9 Performance Bank Guarantee The vendor shall at his own expense submit to the Director, Systems Management Division, Department of Statistics and Information Management, Reserve Bank of India, Mumbai, within thirty (30) working days of the date of notice of award of the tender, a Performance Bank Guarantee from a scheduled commercial bank, payable on demand for an amount equivalent to ten percent (10%) of the total cost of the project for the due performance and fulfilment of the commitment by the vendor. The format of the bank guarantee is as indicated in Annex III. This bank guarantee should be valid till 3 months from the date of expiry of the contract Signing of Contract The vendor shall be required to enter into a contract with the RBI, on the basis of the Scope of Work/deliverables mentioned herein and other terms and conditions as indicated in this RFP Penalty Whenever delay occurs because of reasons attributable to the vendor, liquidated damages shall be payable by the vendor to the extent of five (5) percent of the consideration payable for the milestone concerned for every month of delay In case the vendor fails to meet any of the requirements as per RFP/ agreement, the RBI will charge a penalty equivalent to a maximum of five (5) per cent of the total development cost Jurisdiction All disputes and differences of any kind, whatsoever, arising out of the vendor's propositions shall be referred by either party (the RBI or the vendor), after issuance of 30 Page 19 of 48

20 days notice in writing to the other, clearly mentioning the nature of the dispute / differences, to a single arbitrator, acceptable to both the parties, for initiation of arbitration proceedings and settlement of the dispute/s and difference/ strictly under the terms and conditions of this contract, executed between the RBI and the vendor. The arbitration shall be governed by the provisions of the applicable Indian Laws. The award shall be final and binding on both the parties. The venue for arbitration shall be at Mumbai, India Termination The RBI, if so desires, can terminate the contract with the vendor any time during the period stating proper reason(s) therefor. For this purpose, the RBI will furnish a notice in writing to the vendor. The vendor will be asked to provide in writing any clarification against the displeasure of the RBI regarding the reason for discontinuation within 15 days from the date of issue of the letter by the RBI. The part developed, source codes and all other material will be the property of the RBI. The vendor will hand over all such material to the RBI within a period of 15 days from the date of the request from the RBI Liquidated Damages The liquidated damages is an estimate of the loss or damage that the RBI may have suffered due to delay in performance or non performance of any or all the obligations (under the terms and conditions of the contract relating to development, installation, operationalisation, implementation, training, support/services, acceptance, etc.), of the solution by the vendor and the vendor shall be liable to pay the RBI a fixed amount for each day of delay / non performance of the obligations by way of liquidated damages, details of which will be specified in the contract. Without any prejudice to the RBI s other rights under the law, the RBI shall recover the liquidated damages, if any, accruing to the RBI, as above, from any amount payable to the vendor either as per the contract, executed between the parties or under any other purchase agreement/ contract, the RBI may have executed / shall be executing with the vendor Liquidated Damages is not applicable for reasons attributable to the RBI and Force Majeure. However, it is the responsibility/onus of the vendor to prove that the delay is attributed to the RBI and Force Majeure. The vendor shall submit the proof authenticated by the vendor and the RBI s official that the delay is attributed to the RBI and Force Majeure along with the bills requesting payment Force Majeure The vendor or the RBI shall not be responsible for delays or non performance of any or all contractual obligations caused by Force Majeure Force Majeure means an event, circumstance or situation beyond the control of the Company including an event, circumstance or situation which is a result of or caused by fire, lightning, earthquake, storm, tidal wave, flood, acts of God, acts of public enemy, civil commotion, war, insurrections, riots, passing of any statutory order by the competent authority/ties prohibiting performance of such obligations and restrictions of any country affecting the export of Goods or technology to the vendor or import regulations or requirements of India, whatever the causes are, which would be violated by the performance of the Agreement (between the vendor and the RBI). However, this does not include vendor s default or negligence or carelessness or failure to assess the reasonable consequences of an act on the part of the vendor, resulting in such a situation In the event of any such intervening Force Majeure, the vendor shall notify the RBI in writing of such circumstances and the causes thereof immediately. Page 20 of 48