RBI restricts ₹42.36 lakh Chennai lounge renovation to empanelled vendors

The work is estimated to cost ₹42.36 lakh inclusive of GST and rebate value.

Who can bid: Bidders must be empanelled vendors or contractors with the Reserve Bank of India under the specific category of work costing up to 50 Lakhs. They must also register with the Central Public Procurement Portal (CPPP). Specific minimum turnover, years of experience, or certification requirements are not stated in the provided text.

Key terms

• Estimated Cost: ₹42.36 lakh inclusive of GST and rebate value
• Earnest Money Deposit (EMD): ₹84,720
• Tender Type: E-procurement through Central Public Procurement Portal (CPPP)
• Bid Submission Deadline: October 29, 2026, till 02:00 pm
• Contract Duration: 90 days from the 7th day of issue of written order to commence work
• Retention Money: 5% from each bill (Maximum of 5% of contract amount)
• Liquidated Damages: 0.25% of the Contract Amount per week, subject to a ceiling of 10%

Also in the document

• The tender is restricted to 'bank’s empanelled vendors/contractors', meaning only those already on the RBI's approved list can bid.
• The Earnest Money Deposit (₹84,720) must be submitted in physical form (DD or BG) at the Estate Cell or via NEFT, with specific account details provided.