Tenders are invited by the Reserve Bank of India from IRDAI licenced insurance brokers/consultant companies operating in India for engagement of insurance broker/ consultant with its Human Resources Management Department. Only those bidders who fulfill the Pre-qualification criteria are eligible to participate in this tender. The “Request for Proposal” (RFP) for the tender is available on Bank's website (https://www.rbi.org.in) in ‘Tenders’ Section. Interested bidders are requested to refer to the said RFP. Bids made strictly as per provisions of the RFP document should be submitted online. Schedule of Tender (SOT) | Sr.No. | Details | Date/Time/Other Particulars | | 1. | E-Tender No. | RBI/HRMD-CO Central Office Departments/Others/10/25-26/ET/717[RFP for Insurance Brokers] | | 2. | Mode of Tender | e-Procurement System
(Online Part I - Technical Bid and Presentation Part II - Financial Bid through www.mstcecommerce.com/eprocn/) | | 3. | Date of Notice Inviting Tender (NIT) available for view/ download | 1630 Hrs. on December 16, 2025 | | 4. | Pre-Bid meeting | 1100 Hrs. on December 19, 2025, at RBI, Central Office Building. All questions regarding the tender should be submitted by email latest by 1100 Hrs. December 18, 2025 | | 5. | Date of starting of e-Tender for submission of online Technical Bid and Financial Bid at
www.mstcecommerce.com/eprocn/ | 1630 Hrs. on December 16, 2025 | | 6. | Date & time of closing of online e-tender for submission of Technical Bid and Financial Bid. | 1630 Hrs. on December 30, 2025 | | 7. | Date & time of opening of Part-I (Technical Bid) | 1100 Hrs. on December 31, 2025 | | 8. | Date and time of Presentation at RBI Central Office, Mumbai | Shall be informed separately to the qualifying bidders. | | 9. | Date and time of opening of Part-II (Financial Bid) | Shall be informed separately to the bidders eligible for Part II of the tender | | 10. | Transaction fees | MSTC charges to be paid through MSTC Payment Gateway/NEFT/RTGS in favour of MSTC Limited or as advised by MSTC Ltd.
(Please do not transfer the transaction fee to Reserve Bank of India) | | 11. | Estimated Brokerage Cost | 0.5 percent of the premium amount | | |