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The Financial Services Institutions Bureau (FSIB) has invited proposals from eligible firms to conduct background verification and eligibility checks of candidates for vacancies in its mandated institutions, including Public Sector Banks, Financial Institutions, and Public Sector Insurance Companies.

The Request for Proposal (RFP), dated October 17, 2025, outlines the Bureau’s plan to appoint a firm with proven expertise in background verification and compliance vetting. The estimated annual cost of the assignment is Rs. 1,00,000, based on verification of approximately 10 candidates per year. The selection will follow the Quality cum Cost Based System (QCBS) method, with an 80:20 weightage between technical and financial proposals.

Firms are required to submit proposals via email to [secretariat@fsib.org.in](mailto:secretariat@fsib.org.in) by 5:00 PM on November 22, 2025. A pre-bid meeting will be held online on October 24, 2025, from 2:00 PM to 3:00 PM, with written clarification requests accepted until 11:00 AM on the same day.

Under the scope of work, the selected firm will be responsible for comprehensive background verification, including checks on educational qualifications, employment history, global compliance, criminal and court records, credit defaults, and advanced web and media analyses. The verification will cover both domestic and international databases to ensure integrity and eligibility of candidates considered for leadership roles in public sector financial institutions.

The engagement period is set for three years, subject to annual performance reviews. The firm must deliver verification reports within a maximum turnaround time of four weeks for each group of candidates.

The FSIB reserves the right to accept or reject any proposal, amend RFP conditions, or annul the process at any stage without assigning reasons. The Bureau emphasizes strict confidentiality throughout the process, prohibiting direct contact with candidates.

Further details are available in the RFP document (RFP No. FSIB. No.S5714/08-01-007/2025-2026) on the Bureau’s website — [https://fsib.org.in](https://fsib.org.in).