Nainital Bank Limited inviting for request for proposal (rfp) - inviting applications from eligible chartered accountant firms for empanelment and selection as statutory central auditors of the bank.

Nainital Bank Limited inviting for request for proposal (rfp) - inviting applications from eligible chartered accountant firms for empanelment and selection as statutory central auditors of the bank.

1.NATURE OF WORK

The assignment is for appointment as Statutory Central Auditor (SCA) for The Nainital Bank Limited for a 3-year period beginning FY 2026–27. Main responsibilities include:

• Audit of annual financial statements
• Quarterly limited review of financial results
• Audit of:
• Head Office
• Treasury operations
• Administrative offices
• Loan processing centers
• Assigned branches
• Issue:
• Long Form Audit Report (LFAR)
• Tax Audit Report
• Regulatory certificates
• Verify:
• Asset classification & provisioning
• Investment portfolio
• Treasury operations
• DICGC/DEAF returns
• Internal controls
• RBI compliance
• Fraud/diversion reporting
• Tax audit and filing
• Review IND-AS implementation
• Audit consolidated financial statements and reporting to parent bank

2.ELIGIBILITY CRITERIA

Minimum qualification requirements for audit firms:

1. Minimum 3 full-time partners associated with firm ≥3 years
2. Minimum 2 FCA partners associated ≥3 years
3. At least 1 CISA/ISA qualified partner or paid CA
4. Minimum 8 years banking audit experience
5. Minimum 12 professional staff
6. Minimum 2 partners continuously associated for 10 years
7. No disciplinary proceedings
8. Must qualify under Companies Act Section 141
9. Not a concurrent auditor of the bank
10. Not blacklisted/debarred
11. Not a willful defaulter
12. No subcontracting permitted

3.FIRM REQUIREMENT

Firm must submit:

Technical Proposal:

• Firm profile
• Partner details
• Banking audit experience
• Infrastructure details
• ICAI registration
• PAN
• GST registration
• Peer review certificate
• Annexure A
• Supporting documents

Operational requirements:

• Arrange manpower at own cost
• Provide laptops/software
• Appoint single point of contact
• Maintain confidentiality
• Maintain independence/conflict disclosure

4.ADVANCE REQUIREMENT

No Earnest Money Deposit (EMD), Bid Security, or Mobilization Advance requirement is specified in the RFP.

Financial conditions noted:

• Commercial bid valid for 180 days
• GST paid separately
• Out-of-pocket expenses reimbursable with approval

5.LOCATION REQUIREMENT

Submission address:

Chief Financial Officer
The Nainital Bank Limited
Naini Bank House
Mallital, Nainital – 263001
Uttarakhand, India

Bank operational coverage:

• Uttarakhand
• Uttar Pradesh
• Delhi
• Haryana
• Rajasthan

6.CONTRACT DETAILS

Contract duration:

• Appointment starts from FY 2026–27
• Tenure: 3 years
• Post completion: Mandatory cooling/rest period of 6 years
• Subject to:
• RBI approval
• Annual performance review
• Applicable guidelines

Important dates:

• RFP issued: 16 May 2026
• Proposal submission deadline:
  8 June 2026 till 5:00 PM

7.FINANCIAL DETAILS

Minimum fee structure:

Additional terms:

• GST extra
• Out-of-pocket expenses reimbursable
• Bank may negotiate commercial terms