Extension of Last Date of Submission Corrigendum (Tender No.: RBI/HRMD-CO Central Office Departments/Others/5/23-24/ET/530) An offline pre-bid meeting on the captioned RFP was held at Conference Room, 22nd floor, Central Office Building, Reserve Bank of India, Mumbai at 11:00 Hrs on February 20, 2024 (Tuesday). The meeting was chaired by Ms. Namrata Shukla, General Manager, EHS, HRMD and attended by prospective bidders. The list of participants is furnished in Annex. 2. M/s Global Insurance Brokers Private Limited (Global), the empanelled brokers of the Bank gave a presentation and briefed the prospective bidders on the following points- -
All bidders to submit Non-Disclosure Agreement (NDA) on Company Letter Head (Annex - 3 of RFP). -
To avoid last minute delay and technical issues, the bidders were advised to submit their bid on MSTC Portal well before the deadline. -
Technical issues faced, if any, regarding MSTC portal may be taken up with MSTC personnel (contact details at Para 19, Part I of RFP). -
Global will upload a draft of the detailed Service Level Agreement (SLA) and NDA on the portal which the awarded insurance company would need to get into the agreement in bilingual (Hindi and English) with Reserve Bank of India. This agreement is required to be signed on an ‘As Is Basis’. -
It was clarified that the data for dependent children of the retirees (as mentioned in page no. 1 of the Plan Design and to be included within the overall sum insured limit) in the age group 60-69, will be shared post policy inception with the selected insurance company for inclusion within the policy (Type of Cover under Plan Design, RFP). 3. The queries submitted by the prospective bidders and response of the Bank is furnished below: | Sl. No. | Queries | Bank’s Response | | i. | One bidder sought copy of expiring policy for better understanding of the plan design. | The Bank clarified that the copy of the expiring policy cannot be shared with the bidders. However, the Plan Design of the expiring policy which is on the same terms and conditions along with grade-wise ceiling mentioned in the current Plan Design will be shared by Global. | | ii. | Bidders requested the Bank to share the premium details. | The Bank informed the participants that premium information is available on the Banks website under Tender section (https://www.rbi.org.in/Scripts/Bs_ViewTendersAwarded_New.aspx). The premium details of last three OPD policy for pensioners aged 60 years and above is as below-
| | Policy Period | No. of pensioners | Premium*
(in ₹ Crores) | Premium with 18 % GST
(in ₹ Crores) | | i. | April 01, 2023 to March 31, 2024 | 17652 | 33.94 | 40.05 | | ii. | April 01, 2022 to March 31, 2023 | 17701 | 34.30 | 40.47 | | iii. | January 01, 2022 to March 31, 2022# | 17400 | 6.75 | 7.96 | | iv. | January 01, 2021 to December 31, 2021 | 14992 | 15.79 | 18.63 | *Premium is as at the start of the policy. Additional premium is payable to the insurer for addition/enhancement of pensioners after accounting deletions during the year.
#Policy was extended for 3 months to align with the financial year. | | | iii. | Bidders requested the Bank to share the claims for the last three years, analysis report and demographic details. | The Bank informed the participants that post sharing the Non-Disclosure Agreement (Annexure 3 of the RFP), login credentials will be provided by Global to the respective insurance company from where the claims dump for the last three years and census data can be downloaded. | | iv. | Bidders requested the Bank to apprise on changes in terms and conditions in the plan design in comparison with the expiring policy. | The Bank informed the participants about the following changes: a. The expiring policy covers pensioners of the Bank aged 70 years and above. However, from the policy year 2024-2025, the Bank has decided to cover pensioners aged 60 years and above in the OPD policy (Part I of RFP).
b. Additionally, as per Table 1 of the Plan Design, under the current policy, pensioners with PP (Personal Promotion) are covered at the sum insured against their grade, but from 2024-2025 onwards, this group of pensioners will be covered at sum insured which is one level higher to their existing grade as illustrated below.
Example: A Grade A (PP) pensioner aged 70 years is covered with sum insured of ₹40,000 in the existing policy, but in 2024-2025 policy, she/he will be covered with ₹50,000 sum insured.
The details of number of such pensioners with PP will be shared by Global in the census data. | 4. General Manager, RBI thanked all the participants and advised them to submit their bids well in advance to avoid last minute technical glitches, if any, on the MSTC portal.
Annex List of Participants Present in the Pre-bid Meeting | Sl. No. | Name | Organisation | | 1 | Ms. Namrata Shukla, General Manager | RBI | | 2 | Smt. Manisha Borse, Manager | RBI | | 3 | Shri Vikas V, Assistant Manager | RBI | | 4 | Shri M Srikanth | RBI | | 5 | Shri Niall D’souza | Global | | 6 | Ms. Harshali Satam | Global | | 7 | Shri Sachin Jaiswal | Global |
| Sl. No. | Name of the Prospective Bidder | Name of the Representative | | 1 | The New India Assurance Company Limited | Ms. Vaidehi Joshi | | 2 | The Oriental Insurance Company | Shri. Mohanraj M | | 3 | United India Insurance Company | Ms. Prajkta Mahesh Sagvekar | | 4 | National Insurance Co. Ltd | Ms. Stuti | | 5 | ICICI Lombard General Insurance Co. Ltd. | Shri. Rahul Bagree | | 6 | Bajaj General Insurance Company Limited | Shri. Rohit Perulkar | | Shri. Jatin Negi | | |