Tenders

I. General Information

1. The Reserve Bank of India (the Bank) is the Central Bank of the country with Central Office at Mumbai. It has 31 Offices situated across the country and employs a total of around 13,000 employees. The RFP is being floated to ensure that the Housing Loan Group insurance plan is managed at a high service level and in the most cost-effective manner as possible. The insurer must have the necessary flexibility to respond to the Bank’s current and changing needs.

The Bank’s primary objective in conducting this RFP is to contract with an insurer who:

(i) Matches the desired plan, design and contract provisions.

(ii) Qualifies as per the Eligibility Criterion set forth by the Bank as per guidelines.

(iii) Demonstrates the ability to deliver high quality services at a competitive price.

Note:

1. In the event of any unforeseen closure of work/ holiday on any of the above days, the same will be opened / held on the next working day.

2. The bidders shall submit their tenders online on or before March 04, 2026, at 1300 hrs.

3. Tenders received after due date and time shall be rejected.

4. Tenders not complying with the provisions of bidding documents are liable to be rejected.

5. The selected insurance company has to execute a Service Level Agreement and Non-Disclosure Agreement on a stamp paper of ₹500 and ₹500 respectively with RBI.

6. M/s. Marsh India Insurance Brokers Pvt. Ltd. shall be our insurance broker for the Housing Loan Group Insurance Policy.

7. All queries regarding the tender should be submitted to the brokers latest by February 9, 2026, at 1800 hrs.

II. Response Format for RFP

1. If a bidder intends to respond to this proposal, the schedule given above should be followed. The proposal must include the contact name and account management team that the Bank can call directly.

Address for communicating with the Bank officials is as follows:

The Chief General Manager-in-charge
Reserve Bank of India
Human Resource Management Department
Central Office, 21st Floor
Central Office Building, Shahid Bhagat Singh Road
Fort, Mumbai-400001

Complete confidentiality should be maintained. Information provided here should be used for its intended scope and purpose. Retention of this RFP signifies an agreement to treat the information as confidential. The bidder will have to bear all costs related to the preparation of the proposal.

2. The Bank assumes no responsibility or liability for any costs that bidders may incur in responding to this RFP, including attending meetings, visits etc.

3. Corrigenda or clarifications with respect to this proposal, if any, shall be hosted on the MSTC portal and RBI website only.

4. Any queries related to Housing Loan Group Insurance (HLGI) may be directed to brokers. Their contact details are as under: