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FSSAI invites bids from public sector banks to invest surplus funds in fixed deposits
Only profit-making PSBs with strong capital ratios and low NPAs eligible; bid submission opens on November 3 and closes on November 4.
FSSAI has reiterated that any false or misleading information provided by the bidders at any stage, including after selection, will lead to strict action, including blacklisting.
The Food Safety and Standards Authority of India (FSSAI), under the Ministry of Health and Family Welfare, has invited bids from public sector banks (PSBs) for investment of its surplus funds in fixed deposits (FDs). According to the tender notification dated October 17, 2025, the eligible PSBs are required to quote competitive rates of interest for callable FDs, with the authority retaining the right to split the investment amount or cancel the tender at any stage.
The bid submission process will open on November 3, 2025, and close on November 4, 2025, at 4:30 p.m. Bids must be submitted in sealed envelopes addressed to the Senior Finance & Account Officer at FSSAI headquarters in New Delhi. Late submissions will not be entertained. The authority has also clarified that it reserves the right to negotiate the quoted rates and to decide whether to opt for callable deposits or not.
As per the eligibility criteria, only PSBs included in the second schedule of the RBI Act, 1934, and meeting key financial benchmarks are eligible to apply. Participating banks must have reported profits in the past two financial years (FY 2023–24 and FY 2024–25), maintained a minimum Capital to Risk-Weighted Assets Ratio (CRAR) of at least 9% or higher as per RBI norms, and ensured that net non-performing assets (NPAs) remain below 5% of total advances.
Additionally, eligible PSBs must have total fixed deposits exceeding ₹50,000 crore as of July 31, 2025, and a Provision Coverage Ratio (PCR) above 65% for FY 2024–25. Banks are required to provide copies of the relevant sections from their latest annual reports highlighting compliance with each of these parameters.
The interest rate for fixed deposits should be quoted as applicable on November 6, 2025.
FSSAI has reiterated that any false or misleading information provided by the bidders at any stage, including after selection, will lead to strict action, including blacklisting.
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