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Date : May 19, 2020
Calling of Quotation for Providing Group Personal Accident Insurance, Guwahati

Reserve Bank of India, Guwahati invites quotations from Insurance Companies registered with Insurance Regulatory Development Authority (IRDA) to purchase Group Personal Accident Insurance Policy for its officers/staff working at its offices/sub-offices in the North Eastern Region (NER) viz. Guwahati, Agartala, Shillong, Aizawl, Imphal and Gangtok.

Other details are available in ‘Tender Section’ of the Bank’s website www.rbi.org.in. Interested and eligible Insurance Companies may submit their quotation to The Regional Director, Reserve Bank of India, Station Road, Panbazar, Guwahati -781 001 on or before June 09, 2020 up to 14:00 hours.

Terms and conditions:

Reserve Bank of India, Guwahati Office intends to provide Group Personal Insurance for its Officers/staff posted at its offices/sub-offices in North Eastern Region, viz. Guwahati, Agartala, Shillong, Aizawl, Imphal and Gangtok.

2. The policy has to be issued as Group Unnamed indicating the number of Officers / staff grade wise for the period of one year with effect from July 01, 2020 to June 30, 2021.

3. The grade wise number of officers/ staff in the above-mentioned six offices as on date is 472 mentioned as under:

Sl. No. Class/Grade Sum insured No. of persons
1. Officers in Gr. D and above ₹ 15,00,000/- 13
2. Other Officers ₹ 10,00,000/- 214
3. Other staff (Class III & IV) ₹ 5,00,000/- 245
Total 472

4. At the time of purchasing of the Policy, the Bank will confirm the exact number of officers/staff grade-wise. The premium on the Policy will be paid by RBI, Guwahati Office to the Company. In the event of any claim to be settled by the Insurance Company, the amount will be paid by the Insurance Company to Reserve Bank of India, Guwahati Office. The Insurance Company will have to entertain the claim against any Officer/staff of the above six Offices of the Bank, whose name will appear in the Pay Roll as on the date of claim.

5. The Insurance Company, while quoting the premium for the Group Personal Accident Insurance must indicate clearly the other benefits to be provided, apart from the sum insured.

6. While deciding, from which company the Bank will purchase the Policy, the additional benefits offered in the Policy will also be taken into account apart from the premium amount to be paid. Bank’s decision in this regard will be final and no correspondence with unsuccessful bidders will be entertained in this regard.

7. Description of benefits under the Policy, viz., Death only, Permanent Total Disablement, Permanent Partial Disablement, loss of organs, loss of sight, any other special benefits in the Policy have to be clearly mentioned.

8. The Insurance Company has to submit only one bid.

9. Last date for submission of quotation is June 09, 2020 up to 14:00 hours.

10. The Policy may be renewed for a further period of 2 (two) years.