FMRD awards ₹20,000 setup and ₹1.5 lakh annual fee contract to EscrowNXT for IMSS source code
The Financial Markets Regulation Department (FMRD) is contracting an escrow agent to deposit the source code of the IMSS application, with no reasonable alternatives available due to exceptional circumstances.
Not stated in the document
- Value of contract: One time setup fee of ₹20,000, Annual fee of ₹1,50,000 for three years (excluding applicable GST)
- Actual date of start of work: June 8, 2026
- Actual date of completion of work: June 7, 2029 (option to renew further)
Written from the document by AI, and checked against it. The original below is authoritative.
Who won this contract — EscrowNXT Services Private Limited, One time setup fee of ₹20,000, Annual fee of ₹1,50,000 for three years (excluding applicable GST)
· lowest bidder: no
(extracted from the award document; verify against the original)
The original document
Award
2026-07-03
Document details
| Official title | Financial Markets Regulation Department (FMRD) has availed the services of the escrow agent for depositing the source code of the IMSS application. Due to exceptional circumstances, no reasonable substitutes or alternatives were available for these services. |
| Source body | Reserve Bank of India (RBI) |
| Reference number | N.A. |
| Status | closed (award) |
| Year | 2026 |
| Closing date | N.A. |
| Documents | 1 |