National Skill Development Fund (NSDF), the client through its EOI ref. no. SD-12012/10/2017-ENNNÂ invites Expression of Interests (EOIs) for selection of Independent Monitoring Agency (MA) to monitor the activities undertaken by National Skill Development Corporation – NSDC.
Background:
i. About Ministry of Skill Development & Entrepreneurship (MSDE)
The Ministry of Skill Development & Entrepreneurship (MSDE) is the apex governmental body responsible for enhancing employability of the youth through skill development. The skill ecosystem in India is seeing some great reforms and policy interventions which is reinvigorating and re-energizing the country’s workforce today. It is preparing the youth for job and growth opportunities in the international market. The core objective of the Ministry is to empower the individual, by enabling her/him to realize their full potential through a process of lifelong learning where competencies are accumulated via instruments such as credible certifications, credit accumulation and transfer, etc.
ii. National Skill Development Fund (‘NSDF’)
The National Skill Development Fund (NSDF) has been set up as a Trust fully owned by the Government, under the Indian Trusts Act, 1882, to act as a receptacle for financial contributions by Government / Government entities and multilateral/bilateral and other private sector donors who would prefer to provide funds through the Government. It was set up in 2009 by the Government of India for skill development in the country. The Fund is contributed by various Government sources, and other donors/ contributors to enhance, stimulate and develop the skills of Indian youth by various sector specific programs.
The Fund is operated and managed by the Board of Trustees. The Chief Executive Officer of the Trust is responsible for day-to-day administration and management of the Trust. The Fund meets its objectives through National Skill Development Corporation (NSDC) which is an industry led ‘Not for Profit Company’ set up for building skill development capacity and forging strong linkages with the market. NSDC acts as a catalyst in skill development by providing funding to enterprises, companies and organizations that provide skill training. It also develops appropriate models to enhance, support and coordinate private sector initiatives. NSDF entered into an Investment Management Agreement (IMA) with NSDC for utilization of its corpus to meet the desired objectives of National Skill Development Mission and encourage skill development in the country.
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iii. National Skill Development Corporation (‘NSDC’)
NSDC under MSDE has been conceptualized in response to the increasing shortage of adequately skilled workforce for meeting the growth requirements of a dynamic and vibrant economy. NSDC is a completely private sector led entity, a public private partnership, set up as a section 25 not for profit company under Companies Act 1956 with shareholding of GoI (49%) and private sector (51%). The primary mandate of NSDC is to impart world class skills to Indian labour force with employability as the end objective. It aims to promote skill development by catalyzing creation of large, quality, for-profit vocational institutions. NSDC provides funding to build scalable, for-profit vocational training initiatives.
Its mandate is also to enable support systems such as quality assurance, information systems and train the trainer academies either directly or through partnerships. NSDC acts as a catalyst in skill development by providing funding to enterprises, companies and organizations that provide skill training. Key government schemes like PMKVY, PMKK, NULM and Udaan to promote skill development are also implemented by NSDC.
iv. Independent Monitoring Agency (‘MA’)
NSDC was granted exemption for the registration and governance formalities under RBI on the premise that regulatory oversight is provided by NSDF. Accordingly, NSDF, through an independent external agency undertakes oversight activities of NSDC in terms of Investment Management Agreement (IMA) between NSDC & NSDF, the Trust Deed and RBI regulations on NBFC. The MA will work in coordination with the CEO, NSDF. The MA will submit the quarterly report to the NSDF comprising review of activities undertaken by NSDC.
For details about the roles and responsibilities of Independent Monitoring Agency, its qualification criteria, scope of work and application process, refer EOI Document (Click Here to download)
Key dates and information
Last Date and Time for receipt of request for clarifications 7 th October, 2020 by 1700 hours at E-mail ID: lendup.sherpa@nic.in
Last Date and Time for online submission of EOI 21st October, 2020 till 1700 hours
Date and Time for online opening of EOIÂ 23rd October, 2020 at 1100 hours
Contact Persons for Queries Under Secretary, MSDE- 011-23465892
Refer SkillReporter (www.SkillReporter.com) for skill development and The Edupress (www.TheEduPress.com ) for education related important News, Tenders, RFP, Jobs, EOI, Events, Announcements, Circulars, Notices and other useful updates. Content also shared on Facebook Twitter Linkedin
