Amrinder, having joined BFC at the beginning of 2016, makes his loan move from Pune FC permanent while the club has opted to activate the one-year extension clause on Alwyn's contract.
Amrinder kept nine clean sheets on his way to winning the I-League's 'Goalkeeper of the Year' Award, an accolade that the 22-year-old says played a huge part in his decision.
"I am happy to have signed a new deal with Bengaluru FC. The progress that I have made as a goalkeeper at this club has helped me win the I-League's best goalkeeper and I would like to thank the coaching staff, the management and the fans for all their support. I am looking forward to another season with this club and scripting more history," said Amrinder.
Club COO Mustafa Ghouse said they are delighted to have resigned the duo, who he believes are an integral part of the Blues' squad.
"Amrinder has been one of the standout performers at the club this season. He had to fight for this place in the squad and once he got it, he held on to it with a string of good performances," Ghouse said.