2. AGM, CAD, HRMD CO welcomed the participants, gave a brief introduction about the tender and invited queries from the intending bidders/ interested firms. The queries raised and the clarification provided are tabulated below:
| S. No. | Query | Clarification |
| 1. | Can the firm include experience of the network of firm it is associated with? | No, the firm can only include its own experience. |
| 2. | Clarification regarding Point No. 21 (stated below) in “Form-1: Technical Bid Form”-
“Average of annual turnover of previous three years of the firm from Audit Services only (as distinct from other activities e.g. consultancy) [Documentary evidence may be submitted]”
What can be the documentary evidence? | Documentary evidence may be given as a signed and verified (by a Partner of the firm) statement stating the “Average of annual turnover of previous three years of the firm from Audit Services only (as distinct from other activities e.g. consultancy)”. |
| 3. | Will there be any infrastructure provided by the Bank? Can the personal laptops and other audit software be used | The Bank will provide computers, printers and stationery items to the Concurrent auditors. The auditors will have to work on the application used by the Bank for the purpose of Audit. The auditors may however check the documents in their personal computers but should be careful not to disclose any information which may come to the possession of the firm to any third party. The clause of non-disclosure may be strictly adhered to. |
| 4. | What is the format for affidavit cum indemnity bond and the agreement | The format of the affidavit, indemnity bond and the agreement will be shared with the bidder whom the contract will be awarded.
However, the sample documents may be shared with the bidders on their specific request over email. |
| 5. | Under the reporting requirements what is the format of the monthly report and certificate to be submitted | The monthly report as per Audit Management System (AMS) portal will be used. The auditors will have to familiarize themselves with the portal and the reporting format. This is only accessible to the firm which will be awarded the contract. The same is with the certificate. |
| 6. | What is meant by the cooling period? Are the firms currently carrying out the audit of any other office of RBI eligible to apply? | The firm which has conducted the audits in RBI in the past but at least two years have not elapsed since the completion of such assignment as on September 30, 2025, are not eligible. Cooling period of two years prior to September 30, 2025, have to be observed. |
| 7. | Experience from which date has to be considered | The firm may provide its experience since the time it was established. |
| 8. | Whether experience in Cooperative bank included | Yes |
| 9. | What will be the location of the audit | RBI, Central office and Main Office Building at Fort and divisions of the HRMD CO cluster depts located at BKC. |
| 10. | Whether Assistants can be the part of team instead of articles | The CA firm has to deploy minimum prescribed complement of Staff (1 Chartered Accountant + 8 Skilled Staff). The skilled staff should have at least qualified in Group 2 of CA intermediate or Group II of IPCC (Integrated Professional Competence Course) and undergoing article training. |
| 11. | What are the working days and hours of the Bank? Is attendance on all days mandatory? | The presence of the Chartered Accountant/ Partner of the firm with 8 skilled staff is mandatory on all working days during the working hours, viz., Monday to Friday and from 10:00 am to 06:00 pm. They may also have to work on Saturdays/Sundays during certain instances like Half Yearly/ Annual closing etc. |
| 12. | Can the firm be registered in any other State than Maharashtra? | The applicant firm should be Category I CA firm registered with ICAI, having its Head Office in the State of Maharashtra.
List of eligible firms is enclosed.
However, those firms, which come under the category of what is stated at serial number 13 below, are ineligible to apply, even if their names are there in the enclosed list. |
| 13. | Is a firm currently empaneled with DICGC eligible? | The following CA firms are ineligible to apply for appointment as concurrent auditor -
(a) Statutory Auditors in the RBI, DICGC and NHB for the years 2023-24 and 2024-25.
(b) The CA firms which are conducting / selected for Concurrent Audit of one cluster of CODs / ROs / TEs of the Bank.
(c) The CA firms which are currently under two years cooling period norms of the Bank. |
| 14. | What is the minimum qualification criteria | The Skilled staff should have atleast qualified in Group 2 of CA intermediate or Group II of Integrated Professional Competence Course (IPCC) and undergoing article training. The team should have working knowledge of computers. |
| 15. | Is the remuneration fixed for three years without scope of increase? | Yes |
| 16. | Can the firm work with any other banks along with carrying out the audit of RBI? | Yes |
| 17. | Does the CA need to attend Quarterly meeting. | CA and/or the Partner may attend the Quarterly meeting. |
| 18. | GST to be check or filed | GST filings must be checked |
3. The participants were informed to go through the tender document carefully before submitting the bid. They were also advised to submit the details of EMD transferred along with the technical bid form. Further, it was mentioned that the returns given in the detailed scope have to be checked and filed. The meeting concluded at 12:30pm.