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Small Industries Development Bank Of India, Multi Location
December, 03rd 2018
                                                     RfP ­ CA of Branch Operations - 2018




             Small Industries Development
                     Bank of India

                Request for Proposal (RfP)
                              For
                       Concurrent Audit of
        Operations of Branch Office, SIDBI

           Small Industries Development Bank of India
                                Audit Vertical
                            th
                          4 FlOOR, SIDBI TOWER,
                             15, ASHOK MARG,
                            LUCKNOW - 226001
                           Website : www.sidbi.in

                        Tender No 314/2019/1407HO1/IAD

THE INFORMATION PROVIDED BY THE BIDDERS IN RESPONSE TO THIS T ENDER DOCUMENT WILL BECOME
THE PROPERTY OF SIDBI AND WILL NOT BE RETURNED. SIDBI RESERVES THE RIGHT TO AMEND,
RESCIND OR REISSUE THIS TENDER DOCUMENT AND ALL AMENDMENTS WILL BE ADVISED TO THE
BIDDERS AND SUCH AMENDMENTS WILL BE BINDING ON THEM.

                 (THIS DOCUMENT SHOULD NOT BE REUSED OR COPIED OR USED
                          EITHER PARTIALLY OR FULLY IN ANY FORM)




                                      Page 2 of 30
                                  RfP ­ CA of Branch Operations - 2018


                     Critical Information Summary

1) SIDBI reserves the sole right for carrying out any amendments/ modifications /
   changes including any addendum to this RfP. Such amendments / modifications /
   changes including any addendum to this RfP shall be notified on SIDBI's website
   www.sidbi.in and these will be binding on the bidders.
2) Bidders are advised to study the tender document carefully. Submission of bids
   shall be deemed to have been done after careful study and examination of the
   tender document with full understanding of its implications.
3) Any clarifications from bidder or any change in requirement will be posted on
   SIDBI website. Hence, before submitting bids, bidder must ensure that such
   clarifications / changes have been considered by them. SIDBI will not have
   any responsibility in case some omission is done by any bidder.
4) In case of any clarification required by SIDBI to assist in the examination,
   evaluation and comparison of bids, SIDBI may, at its discretion, ask the
   bidder for clarification. The response / Clarification shall be in writing and no
   change in the price of substance of the bid shall be sought, offered or
   permitted.
5) Please note that all the information required as per the bidding document needs to
   be provided. Incomplete information in these areas may lead to non-selection.
6) Modification And/ Or Withdrawal of Bids:
   Bids once submitted will be treated as final and no further correspondence will be
   entertained. No bid shall be modified after the deadline for submission of bids. No
   bidder shall be allowed to withdraw the bid, if bidder happens to be the successful
   bidder.
7) SIDBI has the right to reject any or all bids received without assigning any reason
   whatsoever.

NOTE:
   SIDBI SHALL NOT BE RESPONSIBLE FOR NON-RECEIPT / NON-
   DELIVERY OF         THE BID DOCUMENTS                DUE TO ANY REASON,
   WHATSOEVER.




                                  Page 4 of 30
                                                    RfP ­ CA of Branch Operations - 2018




 Schedule of events:
Sr.
No.    Bid Reference : 314/2019/1407HO1/IAD

                                          Concurrent Audit of Operations of Branch
1      Purpose                            Office
                                          One (1) Envelope for 1 Branch office
       No. of Envelopes (Non window,
2                                         1 set of Hard copy should be submitted in
       sealed) to be submitted
                                          sealed single envelope for 1 Branch office.
                                           December    19,          2018     at     2:00   p.m
3      Last date of submission of Bids
                                          ( Wednesday)

       Venue, Date and        Time   of December 19, 2018 at 3:00 p.m at the
4
       opening of Bids.                 address given at Sr. No. 8.
                                           December    05,          2018     at     4:00   p.m
5      Date of pre-bid meeting
                                          ( Wednesday)
       Response      to    clarifications
                                          December    12,          2018     at      4:00   p.m
6      sought /pre-bid meeting queries
                                          (Wednesday)
       to be put on website.
                                          6 months from the last date of submission of
7      Bid Validity
                                          Bids.

                                          The General Manager
                                          Audit & Fraud Management Vertical
                                          SIDBI, 4th Floor
                                          SIDBI TOWER,
8      Address for submission of Bids
                                          15, ASHOK MARG,
                                          LUCKNOW - 226001
                                          Ph : 0522-2288546-50
                                          E-mail: auditvertical_ho@sidbi.in

       Contact Persons:
           Name & Designation               Phone                          e-mail
9
       K.R Samuel [DGM]                  0522-4259735         auditvertical_ho@sidbi.in
       Arup Kumar Vishwakarma [M]        0522-4259788         auditvertical_ho@sidbi.in

      If a holiday is declared on the dates mentioned above, the effective date
      would be the next working day at the same time specified above and at the
      same venue unless communicated otherwise.




                                     Page 5 of 30
                                                 RfP ­ CA of Branch Operations - 2018


Introduction and Disclaimers

1.1   Purpose of RfP
The purpose of RfP is to shortlist experienced professional firm/ Limited
Liability Partnership (LLP) of Chartered Accountants, for undertaking
Concurrent Audit of Operations of Branch Office (BO) of SIDBI at the
following locations.
                                Table ­ I
                                                Direct Credit O/s
  Sl.     Branch Office   Regional Office
                                              as on March 31, 2018
  No.         (BO)             (RO)
                                                   (` in Crore)
   1     Tirupur             Chennai                    201
   2     Erode               Chennai                    90

1.2   Information Provided
The Request for Proposal document contains statement derived from
information that is believed to be relevant at the date but does not purport to
provide all the information that may be necessary or desirable to enable an
intending contracting party to determine whether or not to enter into a contract
or arrangement with SIDBI. Neither SIDBI nor any of its employees, agents,
contractors or advisors give any representation or warranty, express or
implied, as to the accuracy or completeness of any information or statement
given or made in this document. Neither SIDBI nor any of its employees,
agents, contractors, or advisors has carried out or will carry out an
independent audit or verification exercise in relation to the contents of any
part of the document.

1.3   Disclaimer
Subject to any law to the contrary, and to the maximum extent permitted by
law, SIDBI and its officers, employees, contractors, agents and advisors
disclaim all liability from any loss or damage (whether foreseeable or not)
suffered by any person acting on or refraining from acting because of any
information including forecasts, statements, estimates or projections
contained in this RfP document or conduct ancillary to it whether or not the
loss or damage arises in connection with any negligence, omission, default,
lack of care or misrepresentation on the part of SIDBI or any of its officers,
employees, contractors, agents, or advisers.

1.4   Costs to be borne by Applicants
All costs and expenses incurred by Applicants in any way associated with the
development, preparation, and submission of responses, including but not
limited to the attendance at meetings, discussions, demonstrations, etc. and
providing any additional information required by SIDBI, will be borne entirely
and exclusively by the Applicant.




                                  Page 6 of 30
                                                   RfP ­ CA of Branch Operations - 2018


1.5        No Legal Relationship
No binding legal relationship will exist between any of the Applicants and
SIDBI until execution of a contractual agreement.

1.6        Applicant Obligation to Inform Itself
The Applicant must conduct its own investigation and analysis regarding any
information contained in the RfP document and the meaning and impact of
that information.

1.7        Evaluation of Offers
Each applicant acknowledges and accepts that SIDBI may in its absolute
discretion apply selection criteria specified in the document for evaluation of
proposals for shortlisting / selecting the eligible Concurrent Auditor(s). The
RfP document will not form part of any contract or arrangement, which may
result from the issue of this document or any investigation or review carried
out by a Recipient.

1.8        Maintaining Secrecy and Confidentiality
The applicant shall be liable to maintain secrecy and confidentiality of all the
information / data / operations, etc. of SIDBI.

1.9        Errors and Omissions
Each applicant should notify SIDBI of any error, omission, or discrepancy
found in this RfP document.

1.10       Acceptance of Terms
An applicant will, by responding to SIDBI for RfP, be deemed to have
accepted the terms of this Introduction and Disclaimer.

2.         Lodgement of RfP

     2.1      RfP submission:
 RfP document submission is required to be done by December 19, 2018
 (2.00 PM) as under :-
      Hard copy should be submitted at the following address in sealed
      single envelope superscribed at the top of the envelope ­ "Request
      for Proposal (RfP) for Concurrent Audit of Operations of ______ BO".

      The General Manager
      Audit & Fraud Management Vertical
      Small Industries Development Bank of India (SIDBI)
      SIDBI Tower,15, Ashok Marg,
      Lucknow ­ 226001 (U. P.)
      Telephones : (0522) 2288546-50
      Email : auditvertical_ho@sidbi.in



                                    Page 7 of 30
                                               RfP ­ CA of Branch Operations - 2018


 RfP must be submitted on or before the aforementioned closing date and
 time.

          Fax / e-mail copies of any submission are not acceptable and
          will be rejected by the Bank.

          Copy of Bids and attachments must be provided in a sealed
          envelope.
 The person(s) signing the Bids shall initial all pages of the RfP. The Bids
 shall contain no erasures or overwriting except as necessary to correct
 errors made by the applicant, in which case corrections shall be initialed by
 the person(s) signing the Bids.
 If the submission does not include all the information required or is
 incomplete, the proposal is liable to be rejected.
 All submissions, including any accompanying documents, will become the
 property of SIDBI. Applicants shall be deemed to license, and grant all
 rights to SIDBI to reproduce the whole or any portion of their submission for
 the purpose of evaluation, to disclose the contents of the submission to
 other Respondents and to disclose and / or use the contents of the
 submission as the basis for any resulting RfP process, notwithstanding any
 copyright or other intellectual property right that may subsist in the
 submission or accompanying documents.
 2.2      RfP Validity Period
The proposal must remain valid and open for evaluation according to its
terms for a period of at least six (6) months from the time the RfP closes
on the deadline for lodgment of RfP.

 2.3      Cost of Bid Document

 No cost has been prescribed for the RfP Document.

 2.4      One Bid / application per applicant

Applicant can submit application for engagement as concurrent auditor
for branches where applicant has a regular office set-up, either Head
Office or full fledged branch offices, at respective locations of SIDBI
branches.

As a matter of policy, SIDBI shall engage services of a firm/ LLP for
carrying out concurrent audit of one branch only, at a time.
Accordingly, in case, if the applicant applied for multiple branches and
found suitable, they may be considered for one branch only, at the sole
discretion of SIDBI.




                                Page 8 of 30
                                                 RfP ­ CA of Branch Operations - 2018


  Firms already engaged with SIDBI:


      SIDBI shall engage the services of a firm / LLP for carrying out
      Concurrent Audit of only one Branch Office (BO) at a time.
      Accordingly, in case the applicant has already been engaged as
      Concurrent Auditor by SIDBI for any of its BO and / or HO
      Verticals, such Firm/LLP will not be eligible under this RfP.

      Such firms/LLP only after completion of specific period
      (continuous three years), cooling period of one year would be
      observed for considering the services of the CA firm again for
      its BO or HO Vertical, subject to fulfilling eligibility criteria by
      such firms/LLP.

  2.5     Late Applications

Any RfP / application received after the deadline for submission of the RfPs /
applications will be treated as "Late Application" and such late applications
shall not be considered at all for competitive consideration.






  2.6     Request for Proposal (RfP)

SIDBI may, in its absolute discretion, seek additional information or material
from any applicants after the RfP closes and all such information and material
provided must be taken to form part of that Applicant's response.

Applicants should provide details of their contact persons, Fax, Telephone,
email and full address(s) to ensure that replies to Bids could be conveyed
promptly.
If SIDBI, in its absolute discretion, deems that the originator of the question
will gain an advantage by a response to a question, then SIDBI reserves the
right to communicate such response to all Applicants.
SIDBI may, in its absolute discretion, engage in discussion or negotiation with
any Applicant (or simultaneously with more than one Applicant) after the Bids
closes to improve or clarify any response.

  2.7     Notification

SIDBI will notify all short-listed Applicants in writing as soon as practicable
about the outcome of their Bids. SIDBI is not obliged to provide any reasons
for any such acceptance or rejection.


  2.8     Disqualification
Any form of canvassing / lobbying / influence / query regarding shortlisting,
status, etc. will lead to disqualification.


                                  Page 9 of 30
                                                  RfP ­ CA of Branch Operations - 2018



3.         About SIDBI
3.1        Small Industries Development Bank of India (SIDBI), set up on April 2,
           1990 under an Act of Indian Parliament, is the Principal Financial
           Institution for the Promotion, Financing and Development of the Micro,
           Small and Medium Enterprise (MSME) sector and for Co-ordination of
           the functions of the institutions engaged in similar activities.

           SIDBI provides its services through a network of Branch Offices
           located all over India. Detailed information on the functions of SIDBI is
           provided on the website, www.sidbi.in
3.2        SIDBI offers several financial products and services for catering the
           financial needs of Micro, Small and Medium Enterprises (MSMEs)
           through its field level offices. These include the following broad areas:
              Direct Finance
              Bills Finance
              Refinance
              International Finance
              Promotion and Development
              Micro-finance

4.         Project Particulars

 4.1          Project Objective and Scope of Operations of SIDBI's Branches

              SIDBI's Branch Office(s) functions include credit dispensation under
              Direct Credit and other day to day operations of the Bank. The
              selected Chartered Accountants would undertake the concurrent
              audit of operations of the Branch (es) on daily/ regular basis and
              based on their findings also regularly suggest measures to improve
              the functioning of operations of Branch of SIDBI. Assignment would
              also include verification and confirmation on the adequacy of
              internal controls and IT system for sustaining operations. The staff
              deputed by the firm / LLP of Chartered Accountants for carrying out
              the audit should be qualified and experienced in the area of work.
              Concurrent Audit covers the Branch Operations including its core
              functions such as credit appraisal, pre-sanction and post-sanction
              supervision mainly under Direct Credit, Working Capital, Receivable
              Finance, Refinance and other day to day operations, various lists/
              statements being submitted to SIDBI towards finance availed by
              them and other Companies/ Banks/ Institutions covered under
              resource support business of the Bank. The objective and scope of
              the Concurrent Audit to be undertaken in the above center are as
              under:
      A.      Objectives and Work areas of Concurrent Audit
           The main objectives and Work areas of the concurrent audit are as
           follows:

                                      Page 10 of 30
                                            RfP ­ CA of Branch Operations - 2018


a. Verifying whether sanctions for advances and disbursement thereof is
   obtained from competent authority.
b. Scrutinizing the completeness of documents submitted for availing
   advances and other facilities.
c. Ensuring compliance of laid down systems, procedures and policies.
d. Examining books of accounts, records and / or registers to ensure that
   they are maintained in accordance with the prescribed systems/
   reconciled with general ledger.
e. Physical checking of stocks financed under working capital scheme at
   relevant places.
f. Detection and arresting of leakage of income, if any.
g. To follow up with authorities to ensure timely rectification of
   irregularities reported with regard to the operations of the branch and
   rectified on the spot/ during audit period itself.
h. Verify prompt, timely and regular submission of the periodical and
   statutory returns.
i.   Any violation of procedure is brought to light.
j.   Reporting any irregularity in working which may result in financial or
     other loss to the Bank.
k. Feedback on regulatory compliances.
l.   Physical checking of live Bills under MSME-Receivable Finance
     Scheme.
m. Verification of Daily Liability Register under MSME-Receivable Finance
   Scheme.
n. Physical verification of approvals granted for discounting of Bills under
   MSME-Receivable Finance Scheme.
o. Any other areas on the operations of the Bank which are vital, in
   nature.

B. Scope

a) Whether the transactions or decisions are within the policy parameters
   laid down by the Head Office.
b) Sanction and disbursement of loans & advances are within the policy
   parameters laid down by the Bank. All the loan disbursements are to
   be checked / verified by the concurrent auditors before actual
   disbursements and all the disbursement notes need to be signed off by
   the concurrent auditors (CA Partner).
c) Verify whether pre-sanction / pre-disbursement / post-disbursement
   visits are undertaken and reports are available on record.
d) Sanctions / disbursements are within the delegated authority.



                                Page 11 of 30
                                          RfP ­ CA of Branch Operations - 2018


e) Sanctions / disbursements do not violate the instructions or policy
   prescriptions of the RBI / other regulators.
f) Compliance to RBI guidelines relating to defaulters list / Caution Advice
   / CIBIL List / IBA caution list for Third Party Entity / fraudulent
   borrowers list, KYC / AML, etc. is done satisfactorily.
g) DoP has been exercised properly and Post Sanction Reporting (PSR),
   wherever applicable, is sent to Post Sanction Reporting Authority
   (PSRA).
h) Security creation has been done properly. All the prescribed and
   necessary documents are collected from borrowers.
i) Verify whether all charges of SIDBI on the assets mortgaged/
   hypothecated are registered with Registrar of Companies
   (ROC)/CERSAI.
j) Pre-disbursement conditions are duly complied with. Deviations made,
   if any, are within the guidelines issued from time to time.
k) Verify the end use of term loan disbursed by the Branch for the
   purpose it is meant for.
l) Undertake visits, wherever necessary, to the projects under
   implementation and observation, if any, in terms of time over-run/
   reasons for delay in implementation of the project, bring to the notice of
   the authority of the Branch.
m) All the receipts have been properly accounted for/ appropriated as per
   Bank's accounting policy.
n) All regulatory provisions/ guidelines are duly complied with (e.g. areas
   including TDS and service tax / professional tax/GST etc).
o) Whether in all cases where the statements/ documents (stock
   statement, No-lien account statement, project completion report, final
   list of machinery, Balance Confirmation Certificate, Acknowledgment of
   Debt, Annual report etc.) are not received even after a reasonable time,
   prompt action is taken by the Branch to get the same.
p) Verify whether there is any mis-utilisation of the loans and whether
   there are instances indicative of diversion of funds.
q) Detection & prevention of revenue leakages in the operation of the
   Branch through close examination of income and expenditure.
r) Verify whether there are any borrowal accounts (other than those
   reported by the Branch) which are showing early warning signals or
   symptoms of sickness and/or can be classified as NPAs. If so,
   ascertain the reasons therefore and analyse the steps taken by the
   branch in the matter.
s) Verify whether the classifications of loan assets of the Branch have
   been done properly and income recognition norms have been followed
   as per Bank's guidelines and procedure/ RBI norms by the respective
   Branch.


                              Page 12 of 30
                                            RfP ­ CA of Branch Operations - 2018


t) Verify whether subsidy claims like CLCSS/TUFS etc. are as per the
   respective scheme and lodged timely with govt. authorities by the
   Branch through Head Office.
u) Verify whether claims submitted by Branch to CGTMSE and ECGC are
   in time.
v) Carrying out Credit Audit in respect of the eligible cases, as per the
   extant guidelines of the Bank.
w) Verify whether guarantee fee for coverage under CGTMSE is collected
   and deposited with Credit Guarantee Trust Fund.
x)    Verify the ratings (including CART ratings) and submission of a
     certificate in writing that the ratings (including CART ratings) are found
     to be correct. The discrepancies, if any, should be brought to the notice
     of the bank.
y) Verify the updation of CIBIL data and report the status in the monthly
   audit report.
z) Verify the details of flow of applications, time taken for appraisal of
   proposals, pending applications etc. with Central Loan Processing Cell
   of the RO concerned / located at the same place and report the status
   in the monthly audit report.
aa) Verify whether assets have been verified by the BO within 30 days
    from the date of classification of account as NPA.
bb) Verify whether the proposals covered under JICA Line of Credit ­
   Scheme for Energy Saving Projects in MSME sector and KfW Energy
   Efficiency LoC ­ Assistance for Energy Efficiency Products,
   respectively have been properly flagged in the DFS/ Flex Package.
   Also to verify whether the requisite Annexures prescribed for the
   purpose have been obtained and kept on record.
cc) Verify whether interest rate is charged as per approved rate of Interest.
dd) To verify whether the Memorandum of Entry for creation of mortgage
   has been prepared/ pasted on Register.

C. Accounting

a) The maintenance and balancing of accounts, ledgers and registers is
   proper.

b) Bank reconciliation ­ Verification of transaction both credit and debit is
   based on legitimate instruments. Comments/Confirmation on whatever
   reconciliation undertaken by the dealing offices is in order.

c) Independently verify the transactions and accounts viz. receipts &
   payments validated through instruments, verify the process of
   reconciliation undertaken by BO of various sensitive accounts viz.
   Sundry, Suspense, Receipts Pending Appropriation, bank reconciliation
   etc., instead of reporting merely based on the certificates / statements
   by the branch officials.

                                Page 13 of 30
                                           RfP ­ CA of Branch Operations - 2018


d) Early reconciliation of entries outstanding in the Branch with regard to
   inter-branch and inter bank accounts, Suspense Account, Sundry
   Deposits Account, etc. Ensure early adjustment of entries in the
   Branch.

e) To ensure that all the transactions viz. receipts, payments, journal
   vouchers are validated by proper instruments/ approval note, etc.

f)   To ensure that all the accounting transactions are carried out in
     accordance with the extant guidelines of the Bank.

g) To scrutinize quarterly trial balance codes and verify the quarterly
   closing returns prepared by the Branch Office.

h) To examine and verify the appropriations done by the branch office for
   the repayments received during the month. The objective is to ensure
   that the appropriations done by the branches are correctly captured in
   the system and are in order so that correct position of overdues / dues /
   RPA etc. is reflected at the time of quarterly and annual closing of
   accounts as on March 31.

 D. Additional Scope for Working Capital Cases

     To ensure that margin on stock/ book debts; Rate of Interest & Drawing
     Power is considered / fixed as per the terms of sanction.
     To ensure that the limits have not been made operational beyond the
     validity period, without approval of the competent authority for
     extension of the validity period.
     To ensure that the periodic visits to the borrower units have been
     undertaken as per the Scheme guidelines. The auditor may also
     undertake some sample visits along with BO officials on random basis
     and/ or on the basis of criticality of the account.
     To ensure that the monthly stock statement from the borrower is
     obtained in time and duly updated in the system.
     To scrutinize the monthly stock statements to ensure correct valuation/
     calculation of drawing power (e.g. by exclusion of non-moving /
     obsolete stocks for calculation of DP and by excluding old & doubtful
     book debts, margins. etc.).
     To ensure that the inventories/ fully paid stocks as mentioned in the
     Stock statement furnished by borrowers for calculating drawing powers
     are correct and as per the books of borrower.
     To ensure that the CA certified book debt statements from the
     borrowers are obtained on half-yearly basis.
     To ensure that stocks are adequately insured as per the extant
     guidelines of the bank and are in the joint names / with bank clause
     and the policies are renewed on timely basis.



                               Page 14 of 30
                                          RfP ­ CA of Branch Operations - 2018


   To ensure that Quarterly Information System (QIS) statements & other
   financial statements are obtained, wherever applicable and indicate the
   observations on the general business operations / profitability etc.
   To ensure that stock audit is undertaken, wherever applicable and to
   ensure that the compliance of stock audit observations are met.
   To check the correctness of upfront fee, interest / penal interest, etc.
   To examine the overdue accounts closely (in terms of operations in the
   a/c, Stock & Book Debt statement, Credit Summation, QIS & other
   statements, Renewal, Cheque Bouncing etc.).
   To ensure compliance of extant guidelines, in case of multiple current
   accounts and / or multiple banking arrangement.
   To verify the correctness of security (primary & collateral), Legal
   compliance, ROC search etc.

E. Additional Scope for MSME-RFS Cases

   To ensure end use by undertaking visits & verification of documents of
   the MSME seller units.
   To verify MSME category of vendors & verify sellers certificates
   including KYC documents.
   To ensure that the visits to the vendors' units have been undertaken as
   per the extant guidelines of the bank. The auditor may also undertake
   some sample visits along with BO officials on random basis and / or on
   the basis of criticality of the transactions.
   To verify, due date-wise, Live Bills under MSME-Receivable Finance
   Scheme.
   To verify whether Daily Liability Register is showing correct picture
   under MSME-Receivable Finance Scheme.
   To undertake visit to purchaser companies to verify the invoices under
   Trade Receivables Engine for E-discounting (NTREES).
   To verify seller / KYC documents under Trade Receivables Engine for
   E-discounting (NTREES).
   Safe custody verification as per extant guidelines.

F. Further Scope for Letters of Credit (LC) / Bank Guarantee (BG)

   Check whether LCs are for genuine trade transactions and necessary
   vouchers reflecting LC opening are passed by BO.
   Check whether the Letters of Credit issued by the branch are within the
   delegated powers.
   Check that LC commission is taken correctly and necessary vouchers
   passed.


                              Page 15 of 30
                                                RfP ­ CA of Branch Operations - 2018


         Check whether LCs are retired in time and necessary reversal
         vouchers are passed by BO.
         Check whether Guarantees are issued after vetting by Legal
         Department and guarantee number is auto generated from Direct
         Finance System.
         Check whether bank guarantees issued are properly worded and
         recorded in the register of the bank. Whether they have been promptly
         renewed on the due dates.
         Check that correct Guarantee commission is taken and necessary
         vouchers passed and Guarantee commission is appropriated quarterly.
         Check that Guarantees are closed and reversed in time as per extant
         guidelines.

      G. Scope for Follow up & Monitoring

         Verify whether Registration of charge(s) under Central Registry for all
         eligible cases has been done.
         Verify whether RAM / CART ratings are approved and printouts of the
         same are available on record.
         Verify whether Annual Review and Re-rating of the accounts as per
         guidelines has been done.
         Verify whether demand advices are raised correctly and sent in time as
         per extant guidelines.
         Verify whether Safe Custody verification is being carried out by BO as
         per the extant guidelines.
         Verify whether insurance cover for the assets charged to SIDBI has
         been obtained/ available.
         Verify whether validation of sanction / review of undisbursed sanctions
         has been carried out as per extant guidelines.
         To verify / review the interim disbursements / final security creations.

         The above areas of operation are illustrative and not exhaustive.

 4.2        The CA will have to submit the following reports to the
             Management:

(A)      Reports relating to Operations in Branch

(i)      Monthly reports covering Branch's day-to-day operations including its
         core functions such as credit appraisal, pre-sanction and post-sanction
         supervision mainly under Direct Credit, Working Capital, Receivable
         Finance and other operations towards finance availed by them with
         regard to their correctness, compliance to the terms and conditions of
         sanction,    post     disbursement,     supervision,    documentation,

                                    Page 16 of 30
                                              RfP ­ CA of Branch Operations - 2018


        review/renewal of limits, bills discounting, KYC norms, monitoring of
        business risks, compliance of Delegation of Powers, etc.
(ii)    Monthly reports covering comments on adherence to regulatory,
        internal policy, procedure, guidelines, compliance of Delegation of
        Powers and areas of audit as indicated at para 4.1.

(iii)   Any other related report as may be required by SIDBI from time to time.

(iv)    The CA shall be accountable, on its part, for wrongly verifying any
        document or signing off disbursement notes or such other important
        documents based on which the Bank takes a decision.

The above reports with regard to operations of the respective Branch in the
area of credit dispensation and other day to day operations should be
submitted in the following manner to the Regional Offices concerned.

                    Name of the Regional
Sl.     Name of the
                    Office to whom reports                    Remarks
No.     Branch
                    to be submitted
   1    Tirupur                  Chennai             Audit Report should be
                                                     submitted in the Audit
                                                     Software developed by the
                                                     Bank and duly signed hard
   2    Erode                    Chennai             copy within one week of
                                                     the reporting period for
                                                     which the report pertains.


Details of operating guidelines will be provided to the concurrent auditors.
Necessary training/ consultation required would be provided to them for
enhancing the quality of the audit. They would be made aware of the
guidelines and circulars issued subsequent to commencement of assignment
and having impact on the concurrent audit, to keep them abreast of the
changes in the operational and regulatory guidelines.

SIDBI will prescribe structured formats for the audit reports and also stipulate
the time limits for submission of the reports. The audit formats would be
reviewed on annual basis. The firm/ LLP should strictly adhere to the format
and the time limit. SIDBI may prescribe different periodicity for different
reports of the same branch.

5.      Fixed Fee Structure

        The fee structure / inclusion / exclusion of the BOs under this
        mechanism is based on the outstanding portfolio of the BO as at the
        end of previous financial year. The award of contract to CA firms / LLPs
        to undertake concurrent audit will be as per fee structure issued by the
        Bank from time to time. The present five slab fee structure, based on
        the outstanding portfolio size, is indicated below:


                                  Page 17 of 30
                                                  RfP ­ CA of Branch Operations - 2018


             Outstanding Portfolio      Basic Fee Payable Per BOs     covered
             (MSME Direct Credit)       Month (excluding GST) under each slab

             Upto ` 100 crore                   ` 15,000/-                Erode

             Above ` 200 crore ­                ` 30,000/-               Tirupur
             upto ` 300 crore
              Note: Maximum upto 5% annually enhancement in remuneration may
              be considered, if the contract is renewed, after one year, provided the
              performance is found satisfactory.

            No out of pocket expenses or traveling allowance / halting
            allowance would be paid to the concurrent audit firm / LLP for
            carrying out the audit. However, the service tax, education
            cess/GST, etc. would be paid by the Bank, as applicable, in addition
            to the basic fees. The payment to the concurrent auditors would be
            subject to deduction of tax at source, at applicable rates.
            The Outstanding Portfolio (MSME Direct Credit) of the BOs are
            given at Table ­ I. at para 1.1.

6.    Selection Criteria for the Branch Operations including its core
functions such as credit appraisal, pre-sanction and post-sanction
supervision mainly under Direct Credit, Working Capital, Receivable
Finance, etc.

6.1            Selection Process:
This RfP will be assessed on the following Selection process :-
Invite Request for Proposal (RfP) wherein Technical Evaluation is submitted
in envelope.
Technical evaluation:
a)    The Applicant is required to submit the details of its proposal in a sealed
      envelope. The envelope should be superscribed "For Technical
      Evaluation" for said Concurrent Audits and should contain detailed
      statement giving the various technical particulars of the proposal covering
      aspects of the Applicant like name and location, year of establishment,
      names of its partners, staff, their qualification / experience, registration
      number of the firm / LLP, details of ICAI membership / Certificate of
      Practice details, methodology proposed and all other such relevant
      particulars in the format given in Annexure I.
b) A pre-evaluation meeting would be held to clarify on points, if any, if
   desired by the intending applicants.
c) After the expiry of time for submission of Bids / application, the
   envelope containing the compliance on the "Technical Evaluation" would
   be opened in respect of all the applicants to verify the compliance of the
   applicants with the prescribed Technical Evaluation requirements.


                                     Page 18 of 30
                                            RfP ­ CA of Branch Operations - 2018


d) The Technical Evaluation of Bids/ Application would be carried out by
   SIDBI. The list of technically qualified applicants would be short listed.

Pre-Requisite for Applying
  The Applicant should
   furnish proof of Valid registration / Certificate of Practice from the
     Institute of Chartered Accountants of India (ICAI).
      be a Partnership firm/ LLP of Chartered Accountants with
      minimum 3 partners of which at least 2 partners should be FCA(s).
      At least one partner should have a continuous association with
      the firm of a minimum of 5 years and another partner should have
      a continuous association with the firm of a minimum of 3 years.
      has minimum five years of previous track record of carrying out
      concurrent audits in other Financial Institutions / Public/private
      Sector Banks mainly in the area of credit dispensation under
      Direct Credit and other day to day operations of the bank (with
      documentary proof).
      CA firm should get Min Score ­ 50 Marks in Rating Chart.
      CA firm having its HO or Branch Office within 500 kms from
      SIDBI's Branch Office location. .

Without compliance of the above pre-requisites, the applicant will not be
eligible for applying.




                                Page 19 of 30
                                                                RfP ­ CA of Branch Operations - 2018


       Desirable Criteria
                                    The Rating Chart is given below:

Sl.                                                                                            Maximum Marks
No.                                          Criteria                                           (Weightage)
 i      Year of establishment of Chartered Accountant firm/ Limited Liability
        Partnership (LLP) of Chartered Accountants.
            Upto 5 years- 10 Marks
                                                                                                    20
            5 to 10 years ­ 12 Marks
            10 to 15 years-15 Marks
            More than 15 years-20 Marks
ii.        Firms/Liability Partnership (LLP) of Chartered Accountants with minimum 3
           partners of whom at least two should be FCA. At least one partner should
           have a continuous association with the firm of a minimum of 5 years
           and another partner should have a continuous association with the
           firm of a minimum of 3 years. (20 Marks)
           In addition to the above, firm having a retired commercial banker as Partner
           / Employee. (With Documentary proof)
            ( One Banker - 6 marks)                                                                 40
            ( 2 Bankers - 8 marks)
            ( 3 or more Bankers - 10 marks)
        Experience of key personnel assigned (as per the curriculum viate)
             1.5 marks to be awarded for each additional partner (over and above
            3 partner) of the firm and 01 mark for full time CA employee (Maximum
            marks-10)
 iii     Minimum five years of previous track record of carrying out such audits in
           other Financial Institutions / Public/private Sector Banks mainly in the area
           of credit dispensation under Direct Credit and other day to day operations of
                                                                                                    20
           the Financial Institution / bank (with documentary proof). ­ 15 Marks
         In addition to the above, firm having previous track record in the area of
           credit dispensation under MSME ­ 20 Marks (additional 5 marks).
iv.    Whether the firm/ LLP empanelled with RBI as
         Statutory Central Auditor ­ 10 Marks
                                                                                                    10
         Statutory Branch Auditor (Category I) ­ 7 Marks
         Statutory Branch Auditor (Category­II)­ 5 Marks
v.     Availability of suitable infrastructural facilities including office set up, adequate
       manpower who are specialized in the area of audit of Branch Operations mainly
       in the area of credit dispensation under Direct Credit and other day to day
       operations of the Bank. Presence in India-number of offices and permanent
       manpower along with regular set-up, either Head Office or full fledged Branch                10
       Offices, within 500 km from SIDBI's branch office.
          Branch (locally) - 5 marks
          Head Office (locally) - 10 marks

                                Maximum technical score                                            100


                                                 Page 20 of 30
                                           RfP ­ CA of Branch Operations - 2018


        The applications received would be examined by "Applications
        Opening and Evaluation Committee" which would be constituted at
        Head Office Level at Lucknow.

        All applicants scoring 50 marks and more (in technical Evaluation)
        will be selected as the Technically Qualified Applicant. The top
        three applicants getting the maximum marks in Technical
        Evaluation will be given preference.

        Due diligence will be carried out for the top three applicants getting
        the maximum marks.

        Preference would be given to the applicants where the partners
        themselves are ex-bankers with requisite experience and exposure
        and the firms having qualified Information System Auditor (CISA/
        DISA) with necessary exposure of systems audit.

        The final selection of the successful applicants from the technically
        qualified applicants will be done, based on due diligence carried out
        by SIDBI.

        On the recommendation of the Committee, name of the successful
        applicant would be identified for the Branch.

7.   Terms of the contract

         The selected firm/ LLP of Chartered Accountant would initially be
        assigned the contract for a period of upto December 31, 2019
        extendable for further two more years (extended for one year, at a
        time), provided the performance is found to be satisfactory on
        review and on sole discretion of SIDBI, with NOT MORE THAN 5%
        increase in professional fee. The concurrent audit is likely to start
        from January 01, 2019. The proposed assignment would be subject
        to periodical review at the discretion of SIDBI and is liable to be
        terminated at any time, if not found satisfactory, by giving a written
        notice of 15 days.






8.   Terms & Conditions

        The applicant appointed as concurrent auditor shall nominate a CA
        or retired bank officer who will head the concurrent audit team as
        the "Designated Auditor" duly authorised by the FCA partner of the
        CA firm/LLP to act on behalf of the firm. The Designated Auditor
        would be required to submit his/her identity proof and address
        proof together with specimen signatures with a request to be
        allotted biometric enabled unique login ID for access to the system.
        The Designated Auditor would require to log in and log out of the
        system each working day. The Designated Auditor would require to
        surrender the login ID on completion of the concurrent audit tenure
        or on any change in the Designated Auditor by the firm/LLP.


                               Page 21 of 30
                                      RfP ­ CA of Branch Operations - 2018


   The audit team composition for Concurrent Audit and attendance
   requirements should be specified as under:
   a) The designated FCA partner of the firm / LLP who shall visit the
      branch at least 4 days in a month; and
   b) Chartered Accountant / Retired Bank Officer who shall visit the
      branch preferably on all working days but for a minimum of 20
      days in a month; and
   c) Audit assistant who shall visit the branch preferably on all
      working days but for a minimum of 20 days in a month.

   A declaration to be furnished by the applicant that credit facilities
   availed by the firm or partners or firms in which they are partners or
   directors including any facility availed by a third party for which the
   firm or its partners are guarantor/s have not turned or are existing
   as non-performing assets as per the prudential norms of RBI. In
   case the declaration is found incorrect, the assignment would get
   terminated besides the firm being liable for any action under ICAI /
   RBI guidelines.
   The applicant must submit an undertaking that the firm / LLP does
   not have any professional relationship with any of the borrowers of
   SIDBI nor will it in future accept professional relationship with any
   of the borrowers of SIDBI during the period during which the firm /
   LLP acts as the concurrent auditor for SIDBI.
   On appointment, the Applicant shall execute undertaking of fidelity
   and secrecy on its letterhead in the format prescribed by the Bank.
   The concurrent auditor should adhere to the audit coverage strictly
   as per the scope as may be decided by the Bank from time to time.
   The concurrent auditors should not undertake any other activities /
   assignment on behalf of the branch without obtaining the
   concurrence of the Audit & Fraud Management Vertical at Head
   Office, in writing.
   The CA should attend Preventive Vigilance Committee (PVC) in the
   Bank which discusses and deliberates on various operational and
   administrative aspects concerning Vigilance administration in the
   ROs/ BOs. The meeting of the PVC takes place at least once in a
   quarter in the succeeding month of every quarter at the concerned
   Regional Office of the Bank.
   The concurrent auditors will co-operate with investigative body,
   regarding processing or execution of the consultancy contract or
   any matter related with discharge of contractual obligations.
   No out of pocket expenses or traveling allowance / halting
   allowance would be paid to the concurrent auditors for carrying out
   the audit. However, the service tax, education cess / GST etc.
   would be paid as applicable from time to time in addition to the


                          Page 22 of 30
                                      RfP ­ CA of Branch Operations - 2018


   basic fees. The payment to the concurrent auditors would be
   subject to deduction of tax at source at appropriate rates.
   The concurrent auditors would give rating or grade to the Branch, if
   desired by SIDBI.
   Necessary arrangement would be made for providing space,
   workstation and access to systems (viewing rights only) to the
   concurrent auditors for ensuring smooth conduct of the audit. This
   would be the responsibility of the Bank. The Branch In-charge
   will shoulder the responsibility of the arrangements.
   The Applicant shall ensure that the audit firm/ LLP or any sister /
   associate concern, is not conducting the statutory audit of the Bank
   or any of its branches.
   The Applicant shall ensure that the audit be carried out in a
   professional manner and in case of any misconduct & negligence,
   the Bank may approach the concerned professional bodies with
   complaints of professional misconduct, if any, on the part of any
   professional engaged by the Bank. Accordingly, we may also
   recommend their name to ICAI / RBI /IBA or any other authority, for
   suitable action thereon by them.
   The Applicant shall ensure that it will not sub-contract the audit
   work assigned to any outside firm/ LLP or other persons even
   though such persons are qualified Chartered Accountants.
   The concurrent auditor shall be granted read only access to the
   systems at the branch office.
   The concurrent audit report shall be pre formatted and available on
   the SIDBI's systems to the Designated Auditor who shall be
   required to enter the audit findings into the system on a day-to-day
   basis.
   The concurrent auditor shall not be allowed to carry any mass
   storage device such as pen drive/flash drive/thumb drive or any lap
   top inside the branch premises as these devices will not be
   required for the job. Concurrent auditors shall be provided with
   computer system with disabled USB ports by the concerned
   branches
   The concurrent auditors are required to plan the audit that it results
   in gradual shortening of the interval between a transaction and its
   examination by an independent person. The concurrent auditor
   shall perform substantive checking in key areas and emphasis
   should be on `on the spot' rectification of deficiencies. The
   concurrent auditor shall daily go through all the vouchers and
   books of the branch for the previous day and identify areas to be
   scrutinised in detail.
   Should maintain and keep back up papers in support of
   observations made.


                          Page 23 of 30
                                             RfP ­ CA of Branch Operations - 2018


          Any other terms and conditions of the assignment would be
          decided by the Bank on a case-to-case basis.
9.     Guidelines & Instructions

i.     SIDBI will endeavour to make available all relevant information in the
       RfP. In case of need of any further information or clarification during
       the application period, the applicant must contact only the Contact
       Officer named above. On no account should the Applicants
       communicate directly with any other SIDBI personnel. Failure to
       comply with this requirement may result in the disqualification of the
       applicant from this process of bidding.

ii.    Government Tax

       Applicants are responsible for establishing the status of the Services
       for the purpose of any government tax including service tax, cess,
       GST, etc.

iii.   Alterations to Application

       Any manuscript or other alteration to the RfP / Application must be
       countersigned and dated by the person submitting the RfP /
       application.

iv.    Letters and Declaration to Accompany Applications

       The RfP / Application must be accompanied by a letter on Firm/
       LLP letter head showing the full registered name(s), registered
       office address of the applicant. It should be signed by a person of
       suitable authority to commit the applicants to a binding contract.
v.     Packaging and Delivery of Applications
       Applications must be delivered in a double sealed envelope clearly
       labeled with the following:
             1.     Selection of CA for operations at ___________ BO.
             2.     Application Due Date
             3.     Applicant's Name
       SIDBI accepts no responsibility for the premature opening of any
       incorrectly marked Applications.
       Applications must be received at Audit & Fraud Management Vertical,
       Small Industries Development Bank of India, SIDBI Tower, 15, Ashok
       Marg, Lucknow ­ 226001 (U. P.) for the attention of The General
       Manager by 2.00 PM on the due date. Late applications will not be
       accepted under any circumstances and will be returned unopened. No
       special pleadings will be accepted. Fax or e-mail applications will
       not be accepted.


                                 Page 24 of 30
                                                RfP ­ CA of Branch Operations - 2018


vi.    Conflict of Interest

       Applicants must disclose in their application details of any
       circumstances, including personal, financial and business activities that
       will, or might, give rise to a conflict of interest; this includes any sub-
       contractor, if they were awarded this contract. Where applicants
       identify any potential conflicts they should state how they intend to
       avoid such conflicts. SIDBI reserves the right to reject any application
       which, in SIDBI's opinion, gives rise or could potentially give rise to a
       conflict of interest.

vii.   Disclosures

       The applicant must disclose:
       a.   If they are OR have been the subject of any proceedings or other
            arrangements relating to bankruptcy, insolvency or the financial
            standing of the applicant including but not limited to the
            appointment of any officer such as a receiver in relation to the
            applicant's personal or business matters or an arrangement with
            creditors or of any other similar proceedings.

       b.   If they are OR any of the applicant's staff have been convicted of,
            or are the subject of any proceedings, relating to:

               a criminal offence or other offence, a serious offence involving
               the activities of a criminal organisation or found by any regulator
               or professional body to have committed professional
               misconduct.
               corruption including the offer or receipt of any inducement of any
               kind in relation to obtaining any contract, with SIDBI, or any
               contracting authority.
               failure to fulfill any obligations in any jurisdiction relating to the
               payment of taxes or social security contributions.

       Disclosure extends to any entity in the same group of the applicant
       (including but not limited to parent subsidiary and sister companies,
       and companies with common shareholders whether direct or indirect
       and parties with whom the applicant is associated in respect of this
       application / RfP).

       If an applicant or related entity or any individual discloses details of any
       previous misconduct or complaint, SIDBI will seek an explanation and
       background details from them. At the sole discretion of SIDBI and
       assessment as to whether the Applicant will be allowed to submit a
       application, decision will then be made by SIDBI.




                                    Page 25 of 30
                                                RfP ­ CA of Branch Operations - 2018


viii.   Indemnity

        The successful applicant shall exercise reasonable skill, care and
        diligence in the performance of the assignment and indemnify and
        keep SIDBI indemnified in respect of any loss, damage or claim
        howsoever arising out of or related to breach of contract, statutory duty
        or negligence by the firm/ LLP or its staff, agents or sub-contractors in
        relation to the performance or otherwise of the Services to be provided
        under this Contract.
ix.     Assigning to Others
        The successful applicant shall not, without the prior written consent of
        SIDBI, assign or transfer or cause to be assigned or transferred,
        whether actually or as the result of take over, merger or other change
        of identity or character of the CAs, any of its rights or obligations under
        the Contract or any part, share or interest therein. Upon any such
        assignment or transfer, this engagement may forthwith be terminated
        by SIDBI.

x.      Termination

        SIDBI may, at its sole discretion and at any time after giving 15 days
        notice can terminate the Contract and inform the CAs of SIDBI's
        decision by written instruction to that effect. In the event of the Contract
        being so terminated, the firm/ LLP shall take such steps as are
        necessary to bring the Services to an end, (including terminating any
        sub-contracts placed by the firm/ LLP) in a cost effective, timely and
        orderly manner. No further correspondence will be entertained in
        this regard.

                                         @@@@




                                    Page 26 of 30
                                                               RfP ­ CA of Branch Operations - 2018


                                                                                         Annexure I
               Technical Evaluation for Concurrent Audit of Branch Operations
        A)       Audit Firm / LLP Details:
Sl.
    Requirements                                                                                       Remarks
No.
 1 Name of the Chartered Accountant Firm/ LLP with year of establishment.

 2   Registration Number / Certificate of Practice from the Institute of Chartered
     Accountants of India (furnish documentary proof, Registration should be valid).
 3   Knowledge and experience in carrying out audit of Branch Operations mainly in the
     area of credit dispensation under Direct Credit and other day to day operations.

 4   Details of every partner including experience, qualification etc. and their Registration
     number with CA Institute (furnish a detailed list of all the partners)

         Sl.     Name    of   the    Age     Educational      Experience     Period of Association
         No.     Partner                     Qualification                   with the firm




 5   Previous track record of carrying out such audits in other Financial Institutions / Public
     Sector /Private Sector Banks mainly in the area of credit dispensation under Direct
     Credit/MSME for last 5 Financial Years and other day to day operations of the
     Financial Institution / bank (furnish documentary proof)

 6   Whether the firm/LLP empanelled with RBI (furnish documentary proof).
 7   Availability of suitable infrastructural facilities including office set up (Branch office/
     Head office at location of SIDBI's Branch or within 500 kms from SIDBI's branch office
     may be specifically indicated), adequate manpower who are specialized in the area of
     audit of Branch Operations mainly in the area of credit dispensation under Direct Credit
     and other day to day operations of the Financial Institution / bank. Competence and
     qualification of key professional staff who shall carry out the assignment in a time
     bound manner (furnish a detailed list of all the skilled / semi skilled employees /
     staff).
 8   Whether the firm has a retired commercial banker as Partner/ Employee. If `YES'
     furnish details as under :-

       Sl.     Name of    Name of     Designati     Present   Qualificati   Experience   Period of
       No.     the        the bank    on at the     Age       on                         Associati
               Partner/   from        time    of                                         on     with
               Employee   where       retirement                                         the firm
                          retired




 9   Whether the audit firm/ LLP or any sister / associate concern is conducting the
     statutory audit of SIDBI or Concurrent Audit in any of SIDBI branches.



                                                   Page 27 of 30
                                                       RfP ­ CA of Branch Operations - 2018


 Note:
1.     All the relevant details & documentary evidences are to be furnished.
       The above is only a format. Information may be submitted in
       additional sheets.

2.     The following declaration/ undertaking shall be furnished by the firm
      a)   The firm/ LLP shall agree to execute undertaking of fidelity and secrecy on its
           letterhead in the format prescribed by the Bank, if the contract assigned.

      b)   A declaration to be furnished by the firm that credit facilities availed by the
           firm or partners or firms in which they are partners or directors including any
           facility availed by a third party for which the firm or its partners are guarantor/s
           have not turned or are existing as non-performing assets as per the prudential
           norms of RBI. In case the declaration is found incorrect, the assignment
           would get terminated besides the firm being liable for any action under ICAI /
           RBI guidelines.

      c)   The firm / LLP must submit an undertaking that the firm / LLP does not have
           any professional relationship with any of the borrowers of SIDBI nor will it in
           future accept professional relationship with any of the borrowers of SIDBI
           during the period during which the firm / LLP acts as the concurrent auditor
           for SIDBI.

 B)        Details of Concurrent Audit of Branch Operations mainly in the
           area of credit dispensation done in banks / FIs.

1. Details of Statutory Branch Audits (Category ­ I / II) of various banks'
   branches

                                                            Year of Audit / Period (From -
     Sr.
               Name of the Bank              Branch         To) [Data required for the past
     No.
                                                            10 years of your firm]




2. Details of Concurrent Audits of various banks' branches

                                                            Year of Audit / Period (From -
     Sr.
               Name of the Bank              Branch         To) [Data required for the past
     No.
                                                            10 years of your firm]




3. Details of Statutory Central Audits (Category - I) of various Banks

                                                            Year of Audit / Period (From -
     Sr.
               Name of the Bank              Branch         To) [Data required for the past
     No.
                                                            10 years of your firm]




                                          Page 28 of 30
                                           RfP ­ CA of Branch Operations - 2018


                               Declaration
           (to be furnished in the letter head of the firm/ LLP)



           We hereby declare that the information submitted above is
complete in all respect and true to the best of our knowledge. We
understand that in case of any discrepancy or inconsistency or
incompleteness is found in the information submitted by us, our
application is liable to be rejected.




Date:                                                Authorised Signatory




                               Page 29 of 30
                                              RfP ­ CA of Branch Operations - 2018


                          Declaration of Eligibility

              (to be furnished in the letter head of the firm/ LLP)

              I/We          _______________________________Chartered
Accountants hereby declare that I/We comply with the eligibility conditions
specified established under the Chartered Accountants Act, 1949, and I/We
declare that:

None of the Partners of the firm have any disciplinary proceedings under the
Chartered Accountants Act, 1949 pending against him/her or any disciplinary
action under the Chartered Accountants Act, 1949 / penal action under any
other law taken / pending against him/her.

It is further confirmed that the firm is not the Statutory Auditor of Small
Industries Development Bank of India (SIDBI).

None of the Partner of the firm holds any shares or other securities (including
options or futures) in Small Industries Development Bank of India (SIDBI).

Our firm will continue to satisfy the eligibility norm for appointment of
Chartered Accountants as Concurrent Auditors as prescribed by the Bank
from time to time.

                  I/ We understand that any breach of the provisions regarding
eligibility shall be considered as gross negligence and may result in
appropriate action under the Chartered Accountants Act, 1949.



                                             For ________________________
                                                       Chartered Accountants


Place: ______________
Date: _______________
                                                               Partner




                                  Page 30 of 30

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