Bank Of India IT Projects Milestone-Based Agency Hiring Mumbai Maharashtra 2026
Bid Publish Date
18-Jul-2026, 7:54 pm
Bid End Date
15-Sep-2026, 5:00 pm
EMD
₹1,70,00,000
Location
Progress
Key Highlights
- • Explicit EMD amount of ₹17,000,000 indicates high-security requirement and bidder financial credibility
- • Milestone-based IT project engagement; likely multi-phase deliverables and acceptance criteria
- • Public-sector procurement context under Bank Of India and Department Of Financial Services
- • No BOQ items published; evaluation likely on technical approach, governance, and implementation plan
- • ATC documents may specify compliance, reporting, and escalation processes
- • Mumbai, Maharashtra location dictates local regulatory and financial compliance considerations
- • No product-specific standards published; anticipate IS/ISO or project-management standard alignment in RFP
Tender Overview
The opportunity is issued by Bank Of India (Department Of Financial Services) for Hiring of Agency for IT Projects- Milestone basis in Mumbai, Maharashtra. The tender involves engaging an agency on a milestone-basis for IT project execution; the estimated scope aligns with software/IT service delivery typically broken into phases. The bid is anchored by a substantial EMD of ₹17,000,000, signaling rigorous pre-qualification. No BOQ items or product specifications are published, suggesting evaluation will rely on project approach, staffing, and delivery methodology in alignment with RFP terms. This procurement targets experienced IT services providers capable of managing multi-phase milestones under a public-sector framework in Mumbai. The unique aspect is the milestone-based delivery model under financial services guidelines, requiring robust governance and reporting mechanisms.
Technical Specifications & Requirements
- No explicit technical specifications are published. The procurement is described as Milestone-based IT project agency hiring with no itemized BOQ. Proposers should prepare a comprehensive delivery plan covering project governance, risk management, resource allocation, and milestone delineation in line with standard IT project management practices. Emphasis will likely be on experience in government-corporate IT collaborations, capability to scale, and adherence to procurement norms under the Bank Of India/Department Of Financial Services framework. Consider detailing staffing certifications, project management methodologies (e.g., PMBOK/PRINCE2), and governance structures to satisfy RFP expectations.
- EMD: ₹17,000,000 is pledged as bid security.
- Proposals should present a phased milestones schedule, acceptance criteria, and payment-linked milestone deliverables to align with public-sector procurement norms.
Terms, Conditions & Eligibility
- EMD amount: ₹17,000,000 (bid security).
- Category: Hiring of Agency for IT Projects- Milestone basis.
- Location: Mumbai, Maharashtra.
- Organization: Bank Of India under the Department Of Financial Services.
- Documentation requirements and detailed eligibility criteria will be governed by the RFP/A TC; bidders should ensure compliance with standard government IT procurement norms, including financial stability, prior government or financial services IT project delivery, and audit readiness.
- Respondents should closely review the ATC and uploaded documents in the ATC file for any organization-specific clauses, governance expectations, and escalation procedures.
- Payment terms, delivery timelines, penalties, and warranty/support details will be defined in the final RFP.
Key Specifications
-
Product/Service: Milestone-based IT project agency services for government-financed IT initiatives
-
Estimated value: Not disclosed; EMD ₹17,000,000 suggests high-value contract
-
Standards/Certifications: To be specified in RFP; prepare PM governance frameworks
-
Delivery model: Multi-phase milestones with acceptance criteria
-
Qualifications: Demonstrated experience in public-sector IT projects and financial services sector
-
Security/compliance: Likely adherence to data security and governance norms for financial services
Terms & Conditions
-
EMD: ₹17,000,000 bid security required
-
Milestone-based delivery with phase-wise acceptance criteria
-
Detailed eligibility criteria and documents are defined in ATC/RFP documents
Important Clauses
Payment Terms
Payment linked to milestone achievement; exact percentages and schedule to be defined in RFP
Delivery Schedule
Milestones to be defined; bidders must present a phased delivery plan with timelines
Penalties/Liquidated Damages
LD provisions to be specified in the final RFP; likely for delays in milestone delivery
Bidder Eligibility
-
Proven track record in delivering milestone-based IT projects for financial sector
-
Financial stability evidenced by audited statements for the past 3 years
-
Experience with government or large public-sector IT procurements
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Ability to deploy resources in Mumbai, Maharashtra or provide equivalent delivery capacity
Tender Data
Bid Details
Quantity
1
Bid Type
Two Packet Bid
Bid Validity
180 (Days)
Bid Type
Service
Evaluation
Total value wise evaluation
Tech Clarification Time
2 Days
Preference & Exemptions
EMD Required
Yes
MII Compliance
Yes
MSE Exemption/Relaxation
Yes
Startup Exemption/Relaxation
Yes
Bid Splitting Applied
No
Requirements
Min. Avg. Annual Turnover
30000
Experience Required
5 Year (s)
Additional Tender Data
Commercial Details
Tender Category
Service
Bid To RA
No
Bid To RA Enabled
No
Item Category
Hiring of Agency for IT Projects- Milestone basis
Advisory Bank
State Bank of India
ePBG Percentage
5%
ePBG Duration (Months)
66
Payment Timelines
Payments shall be made to the Seller within 30 days of issue of service delivery acceptance certificate (SDAC) and on-line submission of bills (This is in supersession of 10 days time as provided in clause 12 of GeM GTC)
Pre-Bid & Qualification
Pre-Bid Date
27-07-2026 15:00:00
Pre-Bid Venue
Bank of India, Information Technology Department (Governance & Excellence), Head Office, Star House-3, 10th Floor, C29, G Block, PNB-BOI Tower, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra, PIN 400051
Delivery Details
Delivery Locations
1
Delivery Cities
Mumbai Suburban
Delivery Pincodes
400051
Delivery Locations
| Consignee | Address | City | State | Pincode | Quantity | Delivery Days | Additional Requirement |
|---|---|---|---|---|---|---|---|
| Subhasish Biswas | 400051,C-5, G Block BKC, Bandra Kurla Complex, Bandra East, Mumbai | Mumbai Suburban | Maharashtra | 400051 | Project / Lumpsum Based | - | - |
Authority Records
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Documents 6
GeM-Bidding-9612940.pdf
Main Document
Other Documents
OTHER
Other Documents
OTHER
Other Documents
OTHER
GEM General Terms and Conditions Document
GEM_GENERAL_TERMS_AND_CONDITIONS
GEM General Terms and Conditions Document
GEM_GENERAL_TERMS_AND_CONDITIONS
Corrigendum Updates
5 Updates Update
Update
Extended Deadline
15-Sep-2026, 11:30 am
Opening Date
16-Sep-2026, 11:30 am
Update
Extended Deadline
05-Sep-2026, 9:30 am
Opening Date
05-Sep-2026, 10:00 am
Update
Extended Deadline
20-Aug-2026, 12:30 pm
Opening Date
20-Aug-2026, 1:00 pm
Update
Extended Deadline
11-Aug-2026, 2:30 pm
Opening Date
11-Aug-2026, 3:00 pm
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Required Documents
GST registration certificate
PAN card
Experience certificates for similar IT milestone-based projects
Financial statements (last 3 years) demonstrating financial viability
EMD submission proof (payment receipt or DD as per RFP)
Technical bid documents outlining approach to milestone-based IT delivery
OEM authorizations or partner agreements (if applicable)
Company profile, legal/authorised signatory details
Frequently Asked Questions
Key insights about MAHARASHTRA tender market
How to participate in IT milestone tender in Mumbai Maharashtra 2026?
Bidders must meet eligibility criteria including prior milestone-based IT project delivery, financial stability, GST/PAN, and EMD of ₹17,000,000. Review ATC and uploaded terms, submit technical and financial bids, and provide a phased milestone delivery plan aligned with RFP guidelines.
What documents are required for Bank Of India IT procurement bid Mumbai?
Submit GST registration, PAN, 3-year financial statements, experience certificates for similar IT milestones, EMD proof, company profile, technical bid outlining delivery approach, and OEM authorizations if applicable. Ensure signatory authority and notarization where required by RFP.
What are the technical expectations for IT projects under this tender?
Expect a milestone-based approach with governance structure, risk management, staffing details, and project management methodology (PMBOK/PRINCE2). Although no BOQ is published, bidders should propose phase-wise deliverables, acceptance criteria, and security/compliance measures suitable for financial services IT.
When is the EMD required and how to submit it for this bid?
The EMD is ₹17,000,000. Submission details will be specified in the RFP/ATC; typically via bank guarantee or online payment accepted by the issuing authority. Ensure EMD validity for the bid submission window and include payment receipt with the technical bid.
What standards or certifications are expected for IT vendors in this Mumbai tender?
Standards may include public procurement IT governance norms and security frameworks. Prepare PM certifications (PMP/Prince2), data security controls, and any vendor-specific certifications required by the ATC or RFP. Exact standards will be confirmed in final procurement documents.
What are the evaluation criteria for this Bank Of India IT contract?
Evaluation will likely weigh technical strategy, milestone feasibility, resource capability, prior government/financial sector IT experience, and financial viability. EMD adequacy and compliance with ATC terms will influence shortlisting; detailed scoring will be in the RFP.
What is the delivery model for milestone-based IT projects in this tender?
The contract requires phased milestones with defined acceptance criteria. Proposals must include a milestone schedule, deliverables per phase, testing/QA plans, and payment linked to successful milestone completion, with governance and escalation procedures aligned to public-sector norms.
What is the location scope for the IT services in this procurement?
The procurement targets Mumbai, Maharashtra, with delivery and governance centered in the Bank Of India’s facilities there. Proposals should outline on-site or remote delivery capability and local regulatory compliance for Maharashtra state operations.