RBI to spend ₹21.21 crore on 18-month employee life insurance policy

Who can bid: The document states that bidders must qualify as per the Eligibility Criterion set forth by the Bank as per guidelines, but the specific thresholds (such as minimum turnover, years of experience, or required certifications) are not stated in the provided text. Bidders must submit bids electronically on the CPP Portal using a valid Digital Signature Certificate (Class III).

Key terms

• Estimated value of tender: ₹21.21 Cr. (Incl of GST) for an eighteen-month period
• Tender type: e-tendering system (online Part I - Technical Bid and Part II – Financial Bid)
• Bid submission deadline: September 19, 2026, at 1800 hrs
• Pre-bid meeting: September 10, 2026, at 1100 hrs (Offline)
• Insurance Broker: M/s. Marsh India Insurance Brokers Pvt. Ltd
• Contract duration: October 01, 2026, to March 31, 2028

Also in the document

• The estimated value of ₹21.21 Cr. is explicitly noted as being for an eighteen-month period, which aligns with the contract duration from October 2026 to March 2028.
• The tender is conducted through a two-stage bidding process (Technical and Financial), with the Financial Bid opened only for bidders who qualify in the technical evaluation.