| Tender number | RBI/Central Office/HRMD/31/20-21/ET/361 |
| Date of publication of NIT | Dec 15, 2020 |
| Nature of work | Group Term Life Insurance Policy for employees of Reserve Bank of India for the year 2021-22 |
| Mode of tender enquiry | Online |
| Type of bidding (single/two bid system) | Two bid system |
| Last date of receipt of tender | Jan 07, 2021 |
| Number of tenders received | 5 (Five) |
| Nos. and names of parties qualified after technical evaluation | 2 (Two)
1) IndiaFirst Life Insurance Company Limited
2) Bajaj Allianz Life Insurance Company Limited |
| Nos. and names of parties not qualified after technical evaluation | 3 (Three)
1) ICICI Prudential Life Insurance Company Limited
2) SBI Life Insurance Company
3) Star Union Dai-ichi Life Insurance Company Limited |
| Commercial Bid Ranking, if any | 1) IndiaFirst Life Insurance Company Limited (L1)
2) Bajaj Allianz Life Insurance Company Limited (L2) |
| Final Ranking, if any | IndiaFirst Life Insurance Company Limited |
| Whether contract awarded to lowest tenderer/evaluated L1 | Yes |
| Contract number and date | CO.HRMD.No.4897/20.20.01/2020-21 dated Jan 12, 2021 |
| Name of contractor | M/s IndiaFirst Life Insurance Company Limited |
| Value of contract | ₹ 5,00,00,000/- |
| Scheduled date of completion of supplies | Jan 31, 2022 |
| Actual date of start of work | Feb 01, 2021 |
| Actual date of completion of work | |
| Reasons for delay, if any | |
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