Request For Proposal (RFP) for Group Term Life Insurance (GTLI) coverage under Group Insurance Arrangement to Salary Accounts of Employees of Government…

Bid Document for Year 2026-27

Request For Proposal (RFP) for Group Term Life Insurance (GTLI) coverage under Group Insurance Arrangement to Salary Accounts of Employees of Government Department/ Other Corporate Organisations.

Date: 28-09-2026

GEM Bid No.: GEM/2026/B/8094234

Broker- Anand Rathi Insurance Brokers Limited

RFP NO-PSB/GTLI/SALARY 2026-2027

Head office: Strategy Department, Corporate Office, East Kidwai Nagar, Block -

3, New Delhi 110023

INDEX Sl No. Particulars Page No.

1. Introduction 4

2. Disclaimer 4

3. Schedule of Invitation 5

4. Bank Profile 5

5. Objectives of the BID Document 6

6. Proposal Process Management 6

7. Language of Bid 7

8. Details of IEMs 8

9. Bidders Eligibility Criteria: 8

10. Technical Bid Document 8

11. Financial Bid Document: (As per Annexure F) 10

12. Bidding Evaluation Process: 10

13. Commercial Bid Evaluation 10

14 Request for Proposal 10 15 Scope of Work 10 16 Special Conditions 12 17 Important Points 13 18 Claim procedure 14 19 Claims 15

20. BID DOCUMENT Terms & Conditions: 15

21. Force Majeure 20

22. Assignment 21

23. Non-Exclusivity 22

24. Non-Transferable 22

25. No Right to Set Off 22

26. Relationship between the Parties 22

27. Indemnity 22

28. Limitation of liability 23

29. Amendments 23

30. Compliance 23

31. Audit 24

32. Annexure A- Pre Contract Integrity Pact 25

33. Annexure B- Technical Bid Format 29

34. Annexure C- Bid Covering Letter 31

INDEX

35. Annexure D- Undertaking by Bidder

32

36. Annexure E- Non-Disclosure Agreement 33

37. Annexure F - Financial Bidding Format 38

1. Introduction

a) Punjab & Sind Bank invites bids for sele ction of Insurer for the renewal of the proposal for Group Term Life Insurance Policy for Corporates and other Government Departments and other eligible personnel maintaining salary account with Punjab & Sind Bank (Named Policy) from established insurance companies registered with IRDAI. b) P&SB has authorized M/s Anand Rathi Insurance Brokers Limited. to solicit proposals, through a biddin g process from IRDAI Licensed Public Sector/ Private Sector Life Insurance Companies operating in India for the captioned Insurance policy. c) Bidders are invited to submit their proposal in accordance with the enclosed Request for Proposal (BID DOCUMENT) terms. The information provided here should be used for its intended scope and purpose only. Retention of this BID DOCUMENT signifies your agreement to treat the information as confidential. d) Bid submission, queries and all other terms and conditions are deta iled in the following sections of this document. All communication regarding this proposal needs to be directed to P&SB/ M/s Anand Rathi Insurance Brokers Limited only. e) The interested insurance companies may submit their bid as per the schedule mentioned on the GEM Portal. f) The complete bidding process will be executed through GEM Portal only. g) Addendum/Corrigendum, if any, to this tender will be published on GEM Portal only

2. Disclaimer

a) The information contained in this Bid Document is provided to the Bidder(s) on the terms and conditions set out in this BID document. The BID document contains statements and information that is believed to be true and reliable as on date of issue of BID DOCUMENT but does not purport to provide all of the information tha t may be necessary or desirable to enable an intending contracting party to determine their participation or to enter into a contract or arrangement with Bank in relation to the provision of services. b) The BID DOCUMENT is not a recommendation, offer or invi tation to enter into a contract, agreement or any other arrangement in respect of the services. The provision of the services is subject to observance of duly notified selection process and appropriate documentation between the Bank and any successful Bidd er as identified by the Bank, after completion of the selection process as detailed in this document. No contractual obligation whatsoever shall arise from the BID DOCUMENT process unless and until a formal contract is signed and executed by duly authorize d officers of Punjab & Sind Bank with the Bidder. The purpose of this BID DOCUMENT is to provide the Bidder(s) with information to assist the formulation of their proposals. c) This BID DOCUMENT does not claim to contain all the information each Bidder may re quire. Each Bidder should conduct their own investigations and analysis and should check the accuracy, reliability and completeness of the information in this BID DOCUMENT and where necessary obtain independent advice. Punjab & Sind Bank makes no represent ation or warranty and shall incur no liability under any law, statute, rules or regulations as to the accuracy, reliability or completeness of this BID DOCUMENT. Punjab & Sind Bank may in its absolute discretion, but without being under any obligation to d o so, update, amend or supplement the information in this BID DOCUMENT.

3. Schedule of Invitation

Particulars Date: 28 -09 -2026

Tender No and Title PSB/GTLI/SALARY 2026-2027 Date of publishing Request for proposal 28-09-2026 Last date and Time for seeking clarification on RFP 05-10-2026. Date of Pre Bid Meeting 05-10-2026 at 12:00 PM Date for Bank’s reply on clarifications 07-10-2026 Last Date and time for Proposal Submission 20-10-2026 Till 04:00 PM Date & Time of Opening of Technical Bid 21-10-2026 At 04:00 PM Opening of Financial Bid Post Completion of Technical Bid Opening. Time for Submission of Additional Documents after opening of Technical Bid 48 hours.

Important: The RFP (Request for Proposal) has been uploaded on the bank’s website

https: //punjabandsind.bank.in/ and in GeM Portal https://gem.gov.in . Any amendment in dates/timeline,

coverages or any other change in the formalities or requirements/schedule of benefits etc. will b