Newgen Software Technologies Limited has announced receiving a purchase order worth ₹32.45 crore (inclusive of 18% GST) from the Reserve Bank of India (RBI). The project involves the implementation and maintenance of the Regulatory Application Management System (RAMS) over a seven-year period.
Key Details:
- Contract Awarded By: Domestic entity (RBI)
- Project Duration: 7 years
- Promoter Interest: None; no promoter or promoter group interest in the awarding entity.
Project Scope:
This purchase order mandates Newgen to handle the development and upkeep of a comprehensive RAMS platform to support RBI’s regulatory framework. The project aims to streamline and enhance regulatory processes, ensuring operational efficiency.
Newgen confirmed that this transaction does not fall under related-party transactions as per the Companies Act, 2013, and is aligned with the terms specified in the request for proposal (RFP) issued by RBI. This order underscores Newgen’s capabilities in delivering advanced software solutions for critical regulatory functions.
