eoi document for sebi investor survey

8/11/2019 EOI Document for SEBI Investor Survey

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EOI for SEBI - Investor Survey 2014- 15

Securities and Exchange Board of India

Har Investor ki Takat

Invitation to Expression of Interest (EOI)

For conducting SEBI - Investor Survey 2014-15

Securities and Exchange Board of IndiaSEBI Bhavan, Plot No. C4-A,

"G" Block, Bandra Kurla Complex,Bandra (E), Mumbai, India400 051


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CONTENTS

1. ABOUT SEBI .......................................................................... 1

2. BACKGROUND ...................................................................... 1

3. SCOPE OF WORK..................................................................... 1

4. SURVEY OBJECTIVES ........................................................... 3

5. DELIVERABLES ....................................................................... 4

6. DURATION .............................................................................. 4

7. INSTRUCTION TO AGENCIES.................................................. 5

8. MINIMUM QUALIFICATION CRITERIA..................................... 6

9. SHORT-LISTING FOR THE PURPOSE OF RFP....................... 8

10. GENERAL TERMS AND CONDITIONS..................................... 8

Annexure 1: Format of Covering Letter for Expression of Interest......... 10

Annexure 2: Details of the Agency ........................................................ 11

Annexure 3: Format of No Conviction Letter ......................................... 13

Annexure 4: Checklist of Items .............................................................. 14


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1. ABOUT SEBI

For a growing and dynamic economy like India, securities market plays an

important role in not just attracting domestic and foreign investment but also it

mirrors the state of Indian economy. Since the establishment of SEBI, thesecurities market in India has developed significantly. SEBI, in its short journey

of 25 years, has made a remarkable impression on investors as well as securities

markets. The Indian securities market has evolved manifold in terms of size,

reach, diversity of investors and product complexity.

2. BACKGROUND

The 2008-09 Investors Survey was conducted immediately after global recession.

Since then, markets have undergone changes. There has been an upswing in the

market which has resulted in growth of the market. The Sensex and Nifty were

9708 and 3021, respectively, as on March 31, 2009. After a period of five years,

the Sensex and Nifty closed at 22,386 (increase of 131 per cent) and 6696 (increase

of 122 per cent), respectively as on March 31, 2014. Also, according to RBI data,

the investment of household in financial assets has increased from `7,269 billion

in 2008-09 to `10,969 billion in 2012-13 (increase of 33.73 per cent).

Further, there are several policy initiatives and introduction of new products in

the securities market. These developments are likely to have an influence on the

investment pattern and investment behavior of households. The advancements in

technological innovations have impacted the market dynamics and influencedbusinesses of various market participants.

Thus, there is a requirement of another survey to ascertain the impact and

changing dynamics of securities market as well as responses of investors and

market participants to the same.

3. SCOPE OF WORK

The proposed survey will have a coverage to whole of India i.e. 29 states and 7

union territories. All India coverage may be further divided into sub-categories

rural, semi-urban and urban (or similar categorization), covering all districts.

SEBI is seeking to appoint a survey agency having extensive experience in

conducting household surveys, preparing questionnaire, data collection,

computing, analysis and report writing, etc. SEBI expects the tabulation of

information and study to be done at State level as well as National level. The

sample size would be approximately 50,000 households and 1000 market


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participants. The samples will be collected randomly in multiple stages and in

some specified proportion based on various factors of target areas such as

demography, economic conditions, distance from district headquarters, etc.

The survey of households will be face to face survey, that is, visiting the house of

respondent household and conducting an interview on-the-spot or at a scheduled

date. The survey of market participants will be an online survey also know as

internet or web survey.

The selected agency is expected to be responsible for undertaking various

activities, such as:

Developing survey material such as maps, listing sheets required for collection

of samples, sample selection and preparation of final field lists so as to meet

the desired sample size.

Recruiting and training field supervisors,

Preparing manuals and designing questionnaires;

Preparing activity-wise detailed time-line for all the tasks related to activities

of survey and study.

Pilot data collection prior to launching the survey and providing results of the

pilot survey.

Getting SEBI's approval for any necessary changes in methodology, datacollection and also carry out relevant changes suggested by SEBI team.

Using advanced technique such as electronically recording the data using

tablets with active GPS/GPRS features, record the interviews on devices, etc.

with approval from SEBI for door-to-door and face to face interviews.

Converting the questionnaire responses in electronic form, maintaining the

quality of the data by undertaking different levels of inspections, on-field

survey verification & scrutiny, as the case may be.

Providing raw survey data for quality control checks, as and when required

by SEBI.

Validation and cleaning the database for subsequent in-depth qualitativeand

quantitative analysis,

Attend to the queries/clarifications by the SEBI team, preparation of fact

sheets, reports, etc.


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Provide regular staffing reports with changes, if any for managers,

supervisors, enumerators etc.

Provide periodic updates to SEBI and its advisory/monitoring committee.

SEBI will undertake supervisory checks at the sample centers to verify

whether the survey activities are being carried out properly. At the time of

verification, agency shall ensure that the concerned investigator accompanies

SEBI officials for identification of the respondent/location.

Preparing reports and factsheets based on the findings from the survey, in line

with the objectives of the survey and as per the requirement of SEBI.

4. SURVEY OBJECTIVES

The objectives of the proposed Survey are as under :

i. To determine savings and investment behavior of households

ii. To understand pattern of investment in various instruments depending

upon education, financial literacy, income, consumption, location and other

demographic factors

iii. To determine risk profile of the investors and relate it to savings and

investment behavior

iv. To estimate the number of household investors in the securities market

v. To find out the reasons for non-investment in securities market

vi. To understand the impact of regulatory policies on investment in securities

market

vii. To find out the impact of investor education/financial literacy programs on

investments

viii. To compare the results of the previous survey with the current survey to

find out changes in investor population (growth/decline), investment

behavior/patterns, etc.

ix. To understand the response of various market participants under dynamic

market situations, their perspective on investor awareness, penetration of

securities market, business environment, concerns on regulatory aspects etc.


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5. DELIVERABLES

The Agency shall be responsible for preparing reports and factsheets based on the

findings from the survey, as per the requirement of SEBI and according to therequirement of survey objectives.

The agency will also provide clean data in electronic format with all variables,

labels and codes included as per the survey questionnaires. A detailed technical

report should be prepared on the data describing all codes, sampling and other

pertinent information. The report will cover observations/experiences arising from

the survey, deliberations with SEBI team and its advisory/monitoring committee

and the methodology employed. Any data removed in the cleaning process other

than through clarification with the responding establishment will also be reported.This technical report will include rigorous meta-data including descriptions of

data, dates of data collection, enumerator information, target population, methods

of data collection and relevant information from field reports. The report should

be submitted within the stipulated time.

The report covering assignment objectives and all background documentation

including computer databases of questionnaires will be the property of the

Securities and Exchange Board of India. Softcopy in a CD and hard copies of

above reports and other documents must be submittedto the SEBI.

6. DURATION

The final analyzed study report should be submitted within 12 months from the

date of signing the contract.

However, in case of contingency of major changes happening in external

environment of laws, regulations etc., which may have the effect of altering or

making irrelevant the conclusions/findings of the Report to be submitted by the

Agency; SEBI, at its sole discretion may consider extension of the project period in

accordance with the new circumstance, with SEBI's approval.


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7. INSTRUCTION TO AGENCIES

7.1 Submission of EOI

Interested Agencies shall submit the following documents: Covering letter for Expression of Interest as per the Annexure 1 along with

requisite documents mentioned in the Minimum Qualification Criteria.

Details of Agency as per the format given in Annexure 2.

Letter of Authorization duly authorizing a person as representative with all

powers and authority to represent the Agency for submission of EOI.

Audited Balance sheet and Income Statement for last three financial years.

All documents as specified in the check list (Annexure 3)

Check list of items (Annexure 4)

Application for EOI along with all the requisite documents and application fee tobe submitted latest by 03.30 PM of June 30, 2014 in a sealed cover super-scribing

EOI for SEBI - Investor Survey 2014 - 15 and addressed to

The Joint Director,

Regulatory Research Division,

Department of Economic and Policy Analysis,

Securities and Exchange Board of India,

SEBI Bhavan, Plot No. C4-A, "G" Block,

Bandra Kurla Complex, Bandra (E),

Mumbai 400 051.

7.2 No Application for EOI shall be accepted after the due date and time. The

applications received after the last date shall not be opened and no further action

shall be taken on such bids. All, or any, incomplete bids shall be rejected without

any evaluation.

7.3 SEBI reserves the right to reject any or all of the proposals received in response to

this advertisement without assigning any reasons whatsoever. SEBI also reserves

the right to revise the pre-qualification/ eligibility criteria for short listing of the

agencies so as to have appropriate/restrict number of applicant agencies.

7.4 This document does not constitute an offer, or solicitation of an offer, nor does this

document or anything contained herein, shall form a basis of any contract or

commitment whatsoever.


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7.5 The Agency shall bear all the costs for participation in the tender process

including preparation of responses to the EOI etc. SEBI will not be liable for any

cost incurred for preparation of response to this document.

7.6 The Agency shall furnish the details as per the formats enclosed in this documentand strictly as per the serial order. The information intended to be supplied should

be furnished in such a manner that the same satisfies the need/ requirement of EOI

under various heads and is self-explanatory.

7.7 For on-line survey, the survey agency must use security technologies to protect the

personal data collected or stored on websites or servers, using reliable encryption

systems such as Secure Socket Layer (SSL) encryption mode or equivalent level

security for on-line survey

7.8 SEBI shall communicate and coordinate only with applicants office in India and

all the assignments should be executed in India only

7.9 In areas where the agency does not have significant presence for carrying out

survey field work, the agency may seek the assistance of a reputed regional survey

agency with prior approval of SEBI. However, SEBI reserves a right for the same if

the circumstances require so.

7.10 For queries, if any, the interested agency may contact at [email protected]

OR [email protected].

8. MINIMUM QUALIFICATION CRITERIA

The minimum qualification criteria for the Agencies have been provided in thetable below:

Sr.

No

Minimum qualifications/Eligibility

criteria

Proof/documents required

1 The Agency must be an entity registered

as Corporate Body with Registrar of

Companies in India under Companies

Act, Society Registration Act, 1860/Autonomous Body of Government or a

Corporate Body registered in the laws of

the country in which it is incorporated

with its own office (NOT through

channel partners/ franchises/etc.) in

India.

Copy of Certificate

of Incorporation/ Registration/

MoA as applicable.


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Sr.

No

Minimum qualifications/Eligibility

criteria

Proof/documents required

2 The agency must have minimum 5

years of relevant experience ofconducting at least 2 large scale surveys

(sample size of such surveys should not

be less than 5000 households), data

analysis, writing survey report etc.

Experience of carrying out surveys for

financial market related organizations

and global presence will be preferred.

Attach relevant proofs.

Provide write up on experienceas a provider of services for

large scale survey in India or

abroad for a similar kind of

organization.

Detailed description of projects

executed by the agency

providing details of project

scope, duration, project size

with documentary proof.

3 The Agency should have a good

reputation in the field of carrying out

surveys

List of current/recent

clients/references wherein

project completed entails

handling similar complexities/

requirement. Relevant

documentary proof subject to

verification of SEBI.

4 The Agency should have a valid PAN

and Service Tax Registration in India

Copy of PAN card and Service

Tax Registration certificate

5 The Agency should have a minimumaverage annual turnover of `5 Crore

(Rupees Five Crore) from survey

related activities during the last 3

financial years

Copy of Audited financialStatement and Balance sheet /

Certificate from a Chartered

Accountant certifying the

turnover amount for the last 3

financial years

6 Profiles of select personnel of applicant

agency firm.

Detailed profile of:

(a) Working team members

(b) Expert personnel serving in

advisory capacity to the surveyproject.

The Agency having aforesaid minimum qualification and capability for the stated

objectives should only apply.


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9. SHORT-LISTING FOR THE PURPOSE OF RFP

The Agency Evaluation Committee (AEC) constituted for selection of Survey

Agency will examine the documents submitted by the applicants in connection

with Expression of Interest. The Committee will prepare a short list of applicants,based on Agency's past experience (number of years, surveys of similar nature in

related sector and experience in India), experience of key personnel in terms of

their qualifications and relevant experience, financial strength of applicant agency

(turnover, net profit), and expertise as revealed by the Expression of Interest

Document. The Committee may call Agencies for a presentation for further

evaluation.

Request for Proposal (RFP) document will be prepared by SEBI. The short-listed

Agencies shall submit their technical and financial bids as per RFP document.

SEBIs decision in this regard would be final.

10. GENERAL TERMS AND CONDITIONS

i. Intending applicant agencies are required to submit their full bio-data giving

details about their organization, experience, professional personnel in their

organization, competence and adequate evidence of their financial standing

etc., in the enclosed form which shall be kept confidential.

ii. An application fee of `1000/- (Rupees one thousand only) (non refundable)

in the form of crossed demand draft in favor of Securities and Exchange

Board of India payable at Mumbai shall be submitted along with applicationdocument. Application without prescribed application fee shall be rejected.

iii. SEBI reserves the right to accept or reject one or all the proposals or annul

the process without giving any reason whatsoever at any time without

assigning any reason and without thereby incurring any liability to the

affected applicants.

iv. The decision of SEBI in selection of agency for empanelment will be final.

SEBI is not bound to assign any reason thereof.

v. If the space in the Performa is insufficient for furnishing full details, theinformation shall be supplemented on separate sheets of paper stating

therein the part of the statement and serial number. Separate sheets shall be

used for each part.

vi. SEBI reserves the right to verify the eligibility criteria independently or seek

any further information and also inspect the facilities of the applicant to

verify the genuineness and to ensure the conformity with the details given.


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vii. Applications received after due date and time or incomplete in any respect

are liable to be rejected.

viii. Applications containing false or inadequate information are liable for

rejection

ix. Agency may provide their area of specialization, skill set and any award

received by any competent authority.

x. SEBI reserves to create one or more panel of agencies for carrying out all the

above mentioned activities depending upon eligibility criteria mentioned in

Pre-qualification criteria.

xi. Each page of the Application and declaration letter shall be signed by

person/s on behalf of the Agency having necessary authorization / Power of

attorney to do so.xii. Intellectual Property Rights for all documents and outputs developed

specifically for the SEBI will rest solely with the SEBI.

xiii. No contractual obligation on behalf of the SEBI whatsoever shall arise from

this document unless and until a formal contract is signed.

xiv. All information received from the applicants in their response will be treated

strictly confidential.

xv. The agency shall hold in confidence any information collected during the

course of the survey, including identity or details of persons/participants ofsurvey, and shall not disclose the information without the written

permission of SEBI.

SEBI reserves the right to modify any/all of the terms of this document giving due

notification through its website.

Note: This is not a Request for Proposal (RFP), and commercials are not required to be

submitted with Expression of Interest


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Annexure 1:

Format of Covering Letter for Expression of Interest

(On letterhead of the Agency )

ToThe Joint Director,

Regulatory Research Division,

Department of Economic and Policy Analysis,

Securities and Exchange Board of India

SEBI Bhavan, Plot No. C4-A, "G" Block,

Bandra Kurla Complex, Bandra (E),

Mumbai 400 051

Dear Sir,

Sub: EOI for Investor Survey

Having examined your advertisement dated ................ inviting applications in response to the

EOI, I/ We ............, hereby declare that I/we fulfill the minimum requirement/ eligibility criteria to

undertake the assignment in full conformity with the EOI.

I/We enclose the requisite documents as follows:

Copy of Certificate of Incorporation/ Registration/ MoA as applicable

Details of offices in India.

Copy of PAN card and Service Tax Registration certificate

Copy of Audited Profit and Loss Statement and Balance sheet/ Certificate from a CA, on

turnover of the last 3 Financial Years.

Copy of Work order/ Certificate of completion and Client details including Name and

Postal Address, Contactable person, Phone number and email ID Details of legal cases in which Agency/organization is found guilty/penalized by any court

of law. If the Survey Agency/firm is not involved / found guilty in any of such cases, self

certification on letterhead to this effect.

Details of pending litigation, if any.

No Conviction Letter duly signed as per the Format provided in Annexure 3

I/ We understand that SEBI reserves the right to reject any or all the bids in response to the EOI

without assigning any reasons whatsoever.

I/ We hereby declare that all the information and statements made in this document are true and

accept that any misrepresentation contained in it may lead to our disqualification.

Yours faithfully,

Signature and Seal of Agency

Name: Date:

Signed in the capacity of..............................................

Duly authorized to sign Bids for and on behalf of..............................................


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Annexure 2:

Details of the Agency

(On letterhead of the Agency)

Sr.No. Particulars

Details

1. Name of the Applicant/organization2. Year of Incorporation3. Address of the Registered office4. Year of commencing operations in India

5.Address (Furnish full address of Head office/branches,

contact details and email address, website address etc.)6. No. of Offices world-wide7. Total center/city wise staff strength (designation wise)

8.

Key Management Personnel of the Agency with

their qualification and experience9. Name of authorized person responsible for the project

10.Contact phone/Mobile number /email address of

responsible person for the project.

11.Annual turnover as per Income Tax returns of the lastthree financial years (in Rupees. lakh)Certificate from a CA

12. Profit after tax in last three years (in Rupees. lakh)

13.Number of years of experience in the field ofconducting surveys and related activities by the Agency

14. Details of similar works carried out in the past three years

15. PAN No. (Copy to be attached)

16.Service Tax Registration No. (Copy of the certificate to be

attached)

19. Details of three largest similar contracts undertaken during the last 12 months. Also,

enclose copies of the contract awarded.

Name of Organization

for whom services

rendered

Year Description of

the services

offered

Period taken

for

completion

Team size for

the

assignment


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20. Legal Aspects (If yes, Give details)

Have the applicant ever been blacklisted/barred by any government agency?

Is the applicant penalized by any organization for poor quality of work delivered

or for non meeting of deadlines??

Is the applicant expelled from any project or agreement?

Has any of the present Director undergone or is facing any criminal proceedings?

Has the applicant suffered from any bankruptcy/insolvency in the past years?

21. Any other special feature that the Applicant would like to mention:

I/ We hereby declare that all the information and statements made in this Bid are true

and accept that any misrepresentation contained in it may lead to our disqualification.

Yours faithfully,


Name: Date:

Signed in the capacity of............................................... Duly authorized to sign Application

for and on behalf of...........................................................


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Annexure 3:

Format of No Conviction Letter

(On letterhead of the Agency)

I/ We the undersigned, having registered office at .................................................(Address of the

registered office) certify that there has been no conviction by a Court of Law or Central/State

Government Department/undertaking, indictment / adverse order by a regulatory authority

for a grave offence against us or any of our sister concern anywhere in the country.

It is further certified that there is no investigation pending against us or our sister concern or

the CEO, Directors / Managers / Employees of our concern or of our sister concern. It iscertified that no conflict of interest exists as on date and in future if such a conflict or interest

arises, we will intimate the Securities and Exchange Board of India of the same.


Name: Date:

Signed in the capacity of............................................... Duly authorized to sign Application for

and on behalf of........................................................... .


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Annexure 4:

Checklist of Items

Sr. No. Particulars / X1 Copy of Certificate of Incorporation/

Registration/ MoA as applicable.Type

equation

here.

2 Copy of PAN card and Service Tax Registration certificate

3 Write up on experience as a provider of services for large

scale sample survey/Government etc. in India or abroad

or a similar kind of organization.Detailed description of projects executed by the agency

rovidin details of ro ect sco e, duration, ro ect size

4 Detailed profile of:(a) Working team members

(b) Expert personnel serving in advisory capacity to the

survey project

5 Copy of Audited Profit and Loss Statement and Balancesheet and Certificate from Chartered Accountant certifyingthe turnover amount for the last 3 years

6 Copy of work order/ Certificate of completion

7 No Conviction Letter duly signed as per the Formatas provided in Annexure 3

8 Self declaration on :

Details of litigation, if any

Ability to conduct all India household survey of

large sample size, qualitative and quantitative analysis,

report writing, etc.

eoi document for sebi investor survey

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