Odisha Gramya Bank inviting for external auditor /consultant services for conducting continuous functional audit of core banking solution

Odisha Gramya Bank inviting for external auditor /consultant services for conducting continuous functional audit of core banking solution 

1.NATURE OF WORK

Tender: Engagement of External Auditor / Consultant for Continuous Functional Audit of Core Banking Solution (CBS – Finacle) for Odisha Grameen Bank.

Work includes:

• Continuous functional audit of CBS (Finacle)
• Daily onsite audit at Bhubaneswar Head Office
• Monthly reporting
• SQL/data dump analysis
• Review of:
• General Ledger (GL) and schemes
• Account master/data sanity
• Revenue leakages and excess charges
• CBS transactions
• Helpdesk operations
• MIS/report accuracy
• Regulatory compliance issues
• Risk assessment and audit recommendations
• Continuous monitoring and compliance validation

2.ELIGIBILITY CRITERIA

Bidder must satisfy all of the following:

1. Must be:
• Company registered under Companies Act
  OR
• CAT-I ICAI Audit firm/CA LLP
  OR
• Government institution/PSU/body providing audit services
2. Professional Audit & Assurance service provider
3. Annual turnover:
• Minimum ₹1 Crore
• Last 2 financial years (FY 2023–24 & FY 2024–25)
4. Must be empanelled with:
• RBI/IBA/CAG/statutory body
  OR
• Public/private bank
5. Odisha-based firm OR branch office in Odisha
6. Minimum 10 years audit service experience
7. Qualified professionals with banking/CBS expertise
8. Minimum 3 years corporate/statutory/CBS audit experience in banks
9. Team strength:
• Minimum 4 full-time partners
• Minimum 4 CAs with banking experience
• Minimum 1 ISA certified professional
10. No blacklisting within last 3 years
11. Integrity Pact mandatory
12. Must execute work without outsourcing

3.FIRM REQUIREMENT

Required team capability:

• Senior Partner/CA/Audit Manager with:
• Minimum 3 years CBS/statutory audit exposure
• Resource with:
• CBS functional audit experience
• ISA-certified professional
• Ex-banker/professional:
• Minimum 5 years banking experience
• Professional with:
• Branch audit experience
• SQL/Data extraction specialist
• Data analytics/data dump analysis specialist

Resources are required onsite and replacement restrictions apply.\

4.ADVANCE REQUIREMENT

Advance payment:

No advance payment allowed.

Payments only after:

• Monthly audit completion
• Submission of:
• Contract agreement
• NDA
• BG
• Monthly audit report
• Invoice

5.LOCATION REQUIREMENT

Work location:

Odisha Grameen Bank
Head Office, Inspection Department
Gandamunda, Khandagiri
Bhubaneswar – 751030
Odisha

Audit must be conducted:

• Daily
• Onsite only

6.CONTRACT DETAILS

Contract period:

• 3 years
• April 2026–March 2029

Timeline:

• Year 1:
  April 2026–March 2027
• Year 2:
  April 2027–March 2028
• Year 3:
  April 2028–March 2029

Special terms:

• Buyer can increase scope/contract value by up to 25%
• No subcontracting without approval
• NDA mandatory
• Integrity Pact mandatory

7.FINANCIAL DETAILS

EMD:

• ₹50,000
• Mandatory in RFP (Bank Guarantee/eBG with SFMS)

Performance Bank Guarantee:

• 4% of total Purchase Order value
• Validity:
• 36 months
• Additional claim period of 12 months

Payment:

• Monthly payment after successful completion
• Via NEFT/RTGS
• TDS/GST applicable

QCBS selection ratio:

• Technical = 30%
• Financial = 70%

Minimum technical score:

• 65%