Shillong, July 23: Chief Minister Conrad K. Sangma today attended the signing of a revised Memorandum of Understanding (MoU) between the Government of Meghalaya and the State Bank of India (SBI) for the State Government Salary Package (SGSP), marking a significant step towards strengthening employee welfare through enhanced banking services and financial security.
The revised agreement replaces the earlier MoU signed in 2012 and introduces a comprehensive salary banking solution for State Government employees. It offers a range of upgraded benefits, including enhanced insurance coverage, concessional loan facilities, improved digital banking services, family banking benefits, and other value-added financial services. The benefits will be available to both existing SGSP account holders and newly recruited Government employees.
Speaking on the occasion, Chief Minister Conrad K. Sangma said that the Government remains committed to the welfare of its employees by ensuring access to better financial products and modern banking solutions. He stated that the revised partnership reflects the Government’s continued efforts to improve the quality of services available to employees while promoting financial inclusion and digital banking across the State.
As of June 30, 2026, more than 43,000 State Government employees maintain their salary accounts with SBI under the SGSP, accounting for nearly 71 per cent of the State’s Government workforce. Of these, over 33,000 employees have availed various loan facilities from the Bank, demonstrating the confidence of Government employees in SBI’s financial services.
The revised SGSP introduces several enhanced features, including the addition of a Rhodium salary package category, personal accident insurance of up to ₹1 crore, air accident insurance of up to ₹1.60 crore, group term life insurance, concessions on processing fees for personal, home, education and vehicle loans, upgraded RuPay, Visa and Mastercard debit cards, YONO SBI and other digital banking services, free online fund transfers, and family banking benefits under SBI Rishtey.
The Chief Minister also appreciated SBI’s extensive contribution towards financial inclusion in Meghalaya through its network of branches, ATMs, Customer Service Points and its support in implementing various Government-sponsored schemes across the State.
The signing of the revised MoU further strengthens the long-standing partnership between the Government of Meghalaya and the State Bank of India and underscores the shared commitment to improving employee welfare through accessible, secure and technology-driven banking services.
