Kendriya Vidyalaya Sangathan : Empanelment of Banks for purpose of Short Terms Deposit of KVS


Date:   23.09.2022

The Manager,
All Nationalized Banks,
Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank,
Central Bank of India, Indian Bank, Indian Overseas Bank, Punjab & Sind Bank,
Punjab National Bank, State Bank of India, UCO Bank, Union Bank of India.

Sub : - Empanelment of Banks for purpose of Short Terms Deposit of Kendriya Vidyalaya Sangathan (KVS).


Kendriya  Vidyalaya  Sangathan  (KVS)  is  an  autonomous  body  under  Ministry  of Education fully fund by Govt. of India. It is registered under Society Registration Act . w.e.f. 03.07 .1967. Kendriya  Vidyalaya Sangathan  invests  funds  under  Term  Deposit  /  Fixed Deposit in a regular r 1anner by obtaining bids from banks. KVS is exempted from Income Tax on its income inclosing interest on its deposits/bank balance  etc.  10( 23C)((ii) (ab) of the Income -Tax Act.

Empanelment of Banks for purpose of Short Terms Deposit

KVS intends to empanel banks/its branch for deposit of its funds  in Fixed Deposit/Term Depos it by ascertaining interest rates from time to time . The terms and conditions for empa11elment are enclosed along with an Application Form to be submitted by the prospective banks/its branch. Kindly nominate any of your branch, preferably in the close vicinity of KVS( -IQ) for enquiries and submission of quotes on behalf of your bank, in case the same is inteested for empanelment with KVS.

Yours Sincerely

(Sanjay Kumar) Deputy Commissioner  (Finance)

Encl: As above 

Copy to:

l. The Deputy commissioner (EDP) KVS(HQ) New Delhi- with the request to upload the same on the website of KVS under 'Announcement'.




Kendriya Vidyalaya Sangathan ( KVS ) is an autonomous body under Ministry of Education fully  funded  by  Govt.  of India.  It is  registered  under  Society  Registration  Act .  w .e.f . 03. 07.1967. Kendriya Vidyalaya  Sangathan  invests funds  under Term Deposit/  Fixed  Deposit in a regular manner by obtaining bids from Nationalized banks. To obtain more competitive rates, the competent authority of  KVS  has  decided  to  empanel  banks  (its  concerned branches ) willing for submission of quotes for the purpose for  a period of 3 years.

KVS intends to empanel Nationalized banks for placement of its funds in fixed deposit/term deposit by ascertaining interest rates from time to time .


All Nationalized ( PSU) banks having net worth and Capital Adequacy Ratio as per RBI Circular issued on the subject from time to time.






Start date for submission of application for empanelment.

27th Sep, 2022


Last date for submission of application for empanelment.

19th Oct, 20 22


1. Net worth  and  Capital  Adequacy  Ratio  (CAR)  as  per  latest  Audited  Account s  along with the copy of Annual  Report.
2. Self certified copy of quarterly accounts clearly mentioning Net worth and CAR.
3. Copy of certificate  issued  by  RBI/Regulatory  body  confirming  the  status  of  the  bank as Nationalized/ PSU Bank .
4. Only one branch of a Bank is eligible for empanelment with KVS. Letter from the Regional /Corporate office of bank authorizing their particular branch for empanelment with KVS. While nominating branch, it should be ensured that it lies in the vicinity of the KVS(HQ) subject to other conditions mentioned below .
5 .  Confirmation that branch applying for empanelment is covered for High Transaction.
6. Self declaration by the authorized person of the bank/branch to the effect that the bank is not under Prompt Corrective Action ( PCA) measure by RBI.
7. The empanelment will be for three years at the discretion of KVS. l<VS reserves the right to accept/reject any or all offers without assigning any reason thereof .
8. KVS reserves the right to increase or decrease the amount to be deposited or cancel the entire bidding process and shall not be liable to anyone on occurrence  of the same.
9. The application should be submitted in the format enclosed.
10. KVS reserves the right to stipulate the amount to be deposited or cancel the entire bidding process and shall not liable to anyone on occurrence of the same.
11. All empaneled banks are required to submit the quote when called for by the KVS irrespective of the amount/duration to be invested by the KVS .
12. The information relating to the KVS and  the proposal of investment shall not be disclosed to any person not officially concerned with  the process. KVS will treat all information submitted as part of proposal. The empaneled bank/concerned branch/official s of the bank who have  access  to  such  information/ material,  should treat the same as Confidential. KVS will not divulge any such information unless it is ordered to do so by any authority that has the power under law to require its disclosure.
13. The proposal should be duly signed, stamped/sealed by authorized official of the prospective bank/concerned  branch.
14. The prospective banker should submit credit rating letter/documents/ reports and all relevant details required to be furnished in the format  enclosed  as  application form duly certified/ signed by the authorized signatory .
15. The application form should be received by the KVS at the following address by the last date during office hours (before 5 p.m.) for consideration of the prospective banker for empanelment.

Joint Commissioner (Finance)
Room  No.001,
Kendriya Vidyalaya Sangathan (HQ )
18, Institutional Area, Shaheed Jeet Singh Marg,
New Delhi - 110016

16. The prospective banker should submit balance sheet abstract of audited  financial results for the year ending 31st March, 2022 clearly showing the net worth and CAR.
17 .KVS accepts no liability of any nature whether resulting from negligence or otherwise a rising from reliance on information provided by the prospective banker.
18 . KVS in its absolute discretion, but without being under any obligation to  do  so, update, amend or supplement the information assessment of assumption s contained in the empanelment.
20. Any deviation to the above shall be liable for rejection of the Application.

Joint Commissioner (Fin.)

( To be furnished in the letter head of the bank )

Name of the Bank

Name of the Branch

Address of the Bank (Registered office)

Address of the Bank ( Regional office)

CAR Ratio in %

Net Worth in Rs. (Crore)

Date of the commencement of Business

Validity of Empanelment

3 Years

Name and  signature  of Authorized  Signatory
( Name of the prospective bank )

(Address of the prospective bank)

( Seal of the prospective bank)

नोट :- हमारे वेबसाइट पर ऐसी जानकारी रोजाना आती रहती है, तो आप ऐसी ही सरकारी योजनाओं की जानकारी पाने के लिए हमारे वेबसाइट से जुड़े रहे।