LIC invites bids from firms to enable digital payments of premiums
It floated request for proposal last month
Contract will be valid for five years
Insurer enjoys a 250 million-strong customer base
Winning startup will automatically become one of country’s top payments processors
Bengaluru-based Razorpay has been invited to bid for LIC
The company will be submitting its proposal this month
PayU and Juspay may be major contenders considering their scale of business
