Banknotes Printing Subsidiary of RBI Floats Tender for a 1 MW Solar Project in Mysuru

Bharatiya Reserve Bank Note Mudran, a wholly-owned subsidiary of the Reserve Bank of India (RBI), has invited bids to design, supply, test, install and commission a 1 MW ground-mounted solar project without a battery bank in its premises in Mysuru.

The last date to submit the bids is April 13, 2022. Bids will be opened on the same day.

Bharatiya Reserve Bank Note Mudran produces banknotes for RBI and manages two printing presses – one in Mysuru, Karnataka, and the other at Salboni in West Bengal.

Interested bidders will have to submit an amount of ₹500,000 (~$6,601) as an earnest money deposit.


The successful bidder will have to submit a performance bank guarantee of an amount equivalent to 3% of the total contract value within 21 days from the date of the issuance of the work order.

The estimated value of the work is ₹70 million (~$924,231).

The work must be completed within 180 days from the issuance of the work order.

For any delay beyond the time specified for the completion of work, liquidated damages at 0.5% of the price of non-supplied goods will be levied per week, subject to a maximum of 10% of the balance work or undelivered goods.

Purchase preference will be given to ‘Class-I local suppliers.’ A ‘Class-I local supplier‘ is a supplier or service provider whose goods, services, or works have local content equal to or more than 50%. The supplier will get a purchase preference provided quoted price falls within the margin of price preference, i.e., within L1 + 20%.

If the bidder proposes to supply finished goods procured directly or indirectly from the vendors from countries sharing a land border with India, such vendors should be registered with the competent authority.

To participate in the bidding process, the bidder should have completed three similar works of value not less than ₹28 million (~$369,692) each or two similar works of value not less than ₹35 million (~$462,116) each or one similar work of value not less than ₹56 million (~$739,385) during the last seven years.

The bidder’s average annual turnover during the last three financial years should be at least ₹21 million (~$277,269). The net worth of the bidder should be positive and should not have eroded by more than 30% year on year during the last three financial years.

The solar modules to be used in the project should have 90% power output for ten years and 80% power output after that for 25 years.

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