1.    The Competent Authority has formed “Consultant Evaluation Committee (CEC)” for evaluation of shortlisted consultants for Implementation of Risk Based Capital Regime for Indian Insurance Industry, with composition as follows:

1.1.     Mr. M.Pulla Rao, ED                        -           Chairman

1.2.     Ms Y. Priya Bharat, CGM               -           Member

1.3.     Mr V.Jayanth Kumar, CGM            -           Member

1.4.     Mr S.P.Chakraborty, GM                -           Member

1.5.     Mr R.K.Sharma, GM                        -           Member

1.6.     Mr M.S.Jayakumar, DGM, CAO    -           Member

1.7.     Mr Sudipta Bhattacharya, GM        -           Convenor

2.    Terms of Reference of CEC are as follows:

2.1.     Formulating Terms of Reference for the consultants;

2.2.     Developing and Issuance of Request for Proposal (RFP) to the shortlisted consultants;

2.3.     Evaluation of technical and financial proposals, based on the criteria stated in RFP; and

2.4.     Recommendation to the Competent Authority on final selection of consultants through Steering Committee for Implementation of Risk Based Capital Regime formed under Order Ref: IRDAI/ACT/ORD/MISC/220/09 /2017 dated 20^th September 2017.

3.    While performing all the functions stated above, the CEC should keep in view the provisions of the Manual for Procurement of Consultancy & Other Services 2017 and extant IRDAI Procurement Manual / Guidelines.

Pournima Gupte

Member (Actuary)