Selected IT SP to design, develop, implement, operate and maintain the system
International Financial Services Centres Authority (IFSCA) issued Request For Proposal (RFP) for Supervisory Technology (SupTech) System covering administrative, compliance, supervision and enforcement framework for its regulated entities.
The SupTech system will enable IFSCA to collaborate with other sectoral financial regulators in India and abroad through Application Programming Interface (API) based machine to machine communication or integration, as appropriate, said the Finance Ministry on 29 Dec 2021.
The selected IT Service Provider (SP) is to design, develop, implement, operate and maintain the system.
The project duration is planned to be around 72 months comprising 12 months of implementation from the date of onboarding of SP, and 60 months of operations and maintenance.
The IT platform that would leverage technology to promote ease of doing business for the stakeholders, reduce the cost of compliance for supervised entities and position IFSCA as a progressive regulator with a best-in-class SupTech system.
The IFSCA is a unified financial sector regulator at GIFT-IFSC, Gandhinagar, Gujarat, for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs) in India.
The detailed scope of RFP is available at e-Procurement portal https://ifsca.enivida.com.
The notice inviting tender for Selection of Service Provider for SupTech System of IFSCA can be accessed at https://ifsca.gov.in/home/TenderList. fiinews.com
