Minutes of Pre-bid Meeting (Tender No.: RBI/HRMD-CO Central Office Departments/Others/10/25-26/ET/717) Please refer to the tender notice on Request for Proposal (RFP) for Engagement of Insurance Broker/Consultant for Reserve Bank of India published on the Bank’s Website on December 17, 2025, inviting application from eligible bidders through e-tender on MSTC Portal (www.mstcecommerce.com/eprocn/) 2. The captioned tender is amended as follows: | Sl. No. | Tender Reference | Reference in RFP | Specification mentioned in tender document (Published in Tender) | Revised Specification | | 1 | Pre-Qualification Eligibility Criteria | Section III Page-23 and Annex II Page 38 | The company must be registered/issued licence by Insurance Regulatory and Development Authority of India (IRDAI) under “Composite” licence category. Its licence should have been renewed by IRDAI at least twice during the last seven years | The company must be registered/issued licence by Insurance Regulatory and Development Authority of India (IRDAI) under “Composite” licence category (revised Annex-II). | | 2 | General Information | Section I Point 20 and Page 14 | The Bank may, at its discretion, avail the broker’s services in connection with other insurance policies taken out by the Bank from time to time viz. term insurance, overseas travel insurance, motor vehicle insurance, other asset insurance, etc. In such cases, the brokerage rate payable shall be the same as quoted under this RFP, and the decision of the Bank in such cases shall be final. | The Bank may, at its discretion, avail the broker’s services in connection with other insurance policies taken out by the Bank from time to time viz. term insurance, overseas travel insurance, motor vehicle insurance, other asset insurance, etc. In such cases, the brokerage rate payable shall be the same as quoted under this RFP (except for property insurance), and the decision of the Bank in such cases shall be final. | | 3 | Assessment Criteria | Section IV (C) Process for Evaluation of the Bids Point 2 and Page 27 | The technical evaluation would be done in two stages. In the first stage, only the ‘Technical Bids’ will be opened online and technical bids of only those bidders who fulfill the eligibility criteria indicated in the Section II of this RFP will be considered for evaluation. The eligible technical bids will be evaluated as per following criteria. | The technical evaluation would be done in two stages. In the first stage, only the ‘Technical Bids’ will be opened online and technical bids of only those bidders who fulfill the eligibility criteria indicated in the Section III of this RFP will be considered for evaluation. The eligible technical bids will be evaluated as per following criteria. | | 4 | Assessment Criteria | Section IV (C) Process for Evaluation of the Bids Point 5 and Page 29 | The presentation will be of total 100 marks with weightage of 30% in the final score. The presentation should cover major aspects included in the Scope of Work detailed in Section III of this RFP and should mandatorily cover the following:
i) Brief introduction of the company and its organisational structure.
ii) Proposed servicing team, deployment plan and experience and qualifications of dedicated personnel to be assigned to the Bank.
iii) Capability and/or experience in large scale database management and data cleansing.
iv) Claims analytics, MIS capabilities and supporting technology infrastructure.
v) Experience in designing and delivering structured monthly health and wellness sessions.
vi) Relevant experience with large corporate/PSU clients and including any previous work with RBI.
vii) Unique strengths, innovations and value propositions that demonstrate superior capability to meet the Bank’s Scope of Work. | The presentation will be of total 100 marks with weightage of 30% in the final score. The presentation should cover major aspects included in the Scope of Work detailed in Section II of this RFP and should mandatorily cover the following:
i) Brief introduction of the company and its organisational structure.
ii) Proposed servicing team, deployment plan and experience and qualifications of dedicated personnel to be assigned to the Bank.
iii) Capability and/or experience in large scale database management and data cleansing.
iv) Claims analytics, MIS capabilities and supporting technology infrastructure.
v) Experience in designing and delivering structured monthly health and wellness sessions.
vi) Relevant experience with large corporate/PSU clients and including any previous work with RBI.
vii) Unique strengths, innovations and value propositions that demonstrate superior capability to meet the Bank’s Scope of Work. | All other terms and conditions mentioned in the tender remain unchanged. Chief General Manager-Incharge
Human Resource Management Department
New Central Office Building
Reserve Bank of India
Mumbai – 400001 December 26, 2025 |
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