KVS : Empanelment of Banks for the purpose for Short Terms Deposit of Kendriya Vidyalaya Sangathan
F. F110212 (KV )20221KVS (HQ)/ P& I
Date: 10.01.2023
The Manager,
Nationalized Banks.
Nationalized Banks.
Central Bank of India, Indian Bank Indian Overseas Bank,
Punjab & Simi Bank Union Bank of India, Punjab National Bank.
Subject: Empanelment of Banks for the purpose for Short Terms Deposit of Kendriya Vidyalaya Sangathan (KVS).
Madam/Sir,
Kcndriya 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 Terms Deposit/Fixed Deposit in a regular manner by obtaining bids from banks. KVS is exempted from Income Tax on its income including interest on its deposit/bank balance etc u/s l0( 23C) ((iii )ab) of the Income Tax Act.
KVS intend s to empanel banks/its branch for deposit of its funds in Fixed Depos it/Term Depos it by ascertaining interest rates from time to time. The terms and conditions for empanelment arc 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(HQ) for enquiries and submission of quotes on behalf of your bank, in case the same is interested for empanelment with KVS.
It is relevant to mention that the last date of submission of bid will be 25.0 1 .2023. If NO offer received for empanelment from the Nationalized Bank it will be deemed that said Nationalized Bank is not interested for empanelment in KVS.
Yours sincerely,
(Sanjay Kumar)
Deputy Commissioner (Fin)
Encl: As above.
Copy to:
1 . The Deputy Commissioner (J:DP ), K VS( HQ), N ew Del hi – with the request to upload the same on the website of KVS under ‘ Announcement’.
KEN DRIYA VIDYALAYA SANGATH AN
EMPANELMENT Of BANKS
INTRODUCTION :
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.L 03.07.1967. Kendriya Vidyalaya Sangathan invests funds under Term Deposit/ Fixed Deposit in a regular manner by obtaining bids from Nationalised banks. To obtain more competitive 1-ates, 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 Nationalised banks for placement of its funds in fixed deposit/term deposit by ascertaining interest rates from time to time.
MINIMUM QUALI FICATION CRITERIA
All Nationalised (PSU) banks having net worth and Capital Adequacy Ratio as per RBI Circular issued on the subject from time to time.
SCHEDULE
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S.No. |
Particulars |
Timeline |
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1 |
Last date for submission of application for empanelment. |
25th January, 2023 |
TERMS & CONDITIONS
1. Net worth and Capital Adequacy Ratio (CAR) as per latest Audited Accounts 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 Natlonalised/PSU Bank.
4. Only one nch a Bank is eligible empanelment with KVS. etter from Regional/Corpornte office of bank authorising 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 authorised person of the bank/branch to the effect that the bank is not under Prompt Corrective Action (PCA) measure by RBI.
7. The empane!ment will be for three years at the discretion of KVS. KVS reserves the right to accept/reject any or ali 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 stipula te the amount to be deposited or cancel the entire bidding process and shall not liable to anyone on occurrence of the same.
11. All empanelled 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 empanelled bank/concerned branch/officials 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 authorised 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.
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 arising 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 assumptions
contained ln the empanelment.
20. Any deviation to the above shall be liable for rejection of the cation.
Joint Commissioner (Fin.)
APPLICATION FORM
(To be furnished in the letter head of the bank)
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Name of the Bank |
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Name of the Branch |
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Address of the Bank |
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Address of the Bank |
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CAR Ratio in |
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Net Worth in Rs. |
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Date of the commencement of Business |
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Validity of Empanelment |
3 Years |
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Name and signature of Authorised Signatory
(Name of the prospective bank)
(Address of the prospective bank)
(Seal of the prospective bank)
Source: Click here to view/download PDF
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