Group Term Life Insurance
Tender Description
Group Term Life Insurance for serving employees of RBI.
Tender Specifications & Timeline
13 FieldsTotal Bidders
2
Winning Bid (L1)
₹10648.98 Cr
Estimated Value (PAC)
₹8.20 Cr
Margin vs Estimate
—
Winning Contractor (L1 - Official Awardee)
Admitted-FinanceL1 to L2 Spread
+61.82%
| Rank | Bidder / Contractor | Quoted Bid | Gap vs L1 | vs Estimate | Status |
|---|---|---|---|---|---|
| L1 | ₹10648.98 Cr | 0.0% (L1) | — | Admitted-Finance | |
| L2 | ₹17231.98 Cr | +61.82% | — | Admitted-Finance |
This tender covers group Term Life Insurance, issued by Reserve Bank of India under reference 20.21.004. The estimated contract value is ₹8.20 Cr, and the tender is currently Expired. Under financial bid evaluation, Star Union Dai-Ichi Life Insurance Co. Ltd. emerged as the lowest (L1) bidder with a quoted bid amount of ₹10,648.98 Cr.
This procurement is part of ongoing efforts by central government agencies and public sector undertakings to maintain and upgrade public infrastructure and services in Mumbai. Vendors interested in similar opportunities can browse other tenders from the same issuing organisation below.
Tender Documents
Download official tender documents, technical specifications, schedules, and BOQ files
BOQ Comparative Chart
| Bidder | Submitted On | Status | Fin. Value | Rank | Remarks / Logs |
|---|---|---|---|---|---|
Aviva Life Insurance Company India Limited #1059024 | 20-Aug-2026 01:35 PM | Admitted-Finance Updated: 25-Aug-2026 11:11 AM | 172319842000.00 | L2 | — |
Star Union Dai-Ichi Life Insurance Co. Ltd. #1058693 | 20-Aug-2026 01:39 PM | Admitted-Finance Updated: 25-Aug-2026 11:11 AM | 106489790000.00 | L1 | — |
Bid Evaluation Details & Logs
technical bid opening
Date: 21-Aug-2026 02:48 PM
Officer: Nikhil Bodke
Technical Bid opening
technical evaluation
Date: 25-Aug-2026 10:53 AM
Officer: Roshni Mohanan
finance bid opening
Date: 25-Aug-2026 11:11 AM
Officer: Nikhil Bodke
Financial bid opened
About This Procurement Notice
This central government tender was issued by Reserve Bank of India. The estimated contract value is ₹8.20 Cr. Bids must be submitted by 20-Aug-2026 02:00 PM.
BiharInfraTales aggregates procurement notices from Bihar eProcurement, GeM portal, and central government tender portals. Data is refreshed every 30 minutes. Always verify details on the official portal before submitting a bid.
Frequently Asked Questions
- QWhat is the status of the tender "Group Term Life Insurance"?
- The current status of this tender is "Expired". The submission deadline is 20-Aug-2026 02:00 PM. This information is sourced from official government procurement portals.
- QWho issued this central government tender?
- This tender was issued by Reserve Bank of India. The reference number is 20.21.004. It is a central government procurement notice.
- QWhat is the estimated value of this tender?
- The estimated tender value is ₹8.20 Cr. This is the approximate contract value as disclosed in the official tender document.
- QWho is the lowest (L1) bidder for this tender?
- Under financial bid evaluation for "Group Term Life Insurance", Star Union Dai-Ichi Life Insurance Co. Ltd. emerged as the lowest (L1) bidder with a quoted bid amount of ₹10,648.98 Cr. Full bid rankings and vendor comparisons are available on BiharInfraTales.