SHILLONG, July 23: The state government on Thursday signed a revised Memorandum of Understanding (MoU) with the State Bank of India (SBI), offering enhanced insurance, loan, and digital banking benefits to over 43,000 government employees.
Replacing a 2012 agreement, the updated package covers both existing and newly recruited employees. Key features include a new ‘Rhodium’ account category, personal accident insurance of up to Rs 1 crore, and air accident insurance of up to Rs 1.60 crore.
The package also includes group term life insurance, concessions on processing fees for personal, home, education, and vehicle loans, and upgraded debit cards.
Additionally, employees will have access to free online fund transfers, YONO SBI services, and family banking benefits under the SBI Rishtey programme.
Chief Minister Conrad K Sangma, who attended the signing ceremony, said the partnership reflects the government’s commitment to employee welfare by providing modern financial products and promoting digital banking across the state.
As of June 30, 2026, more than 43,000 state employees—representing approximately 71 per cent of the government workforce—maintain salary accounts with SBI. Of these, over 33,000 have already utilised various loan facilities. The Chief Minister also commended SBI’s role in financial inclusion and its support in implementing government schemes through its network of branches and ATMs in Meghalaya.
As of June 30, 2026, more than 43,000 state employees—representing approximately 71 per cent of the government workforce—maintain salary accounts with SBI. Of these, over 33,000 have already utilised various loan facilities. The Chief Minister also commended SBI’s role in financial inclusion and its support in implementing government schemes through its network of branches and ATMs in Meghalaya.
