SHILLONG, July 23: The Government of Meghalaya and the State Bank of India (SBI) on Thursday signed a revised Memorandum of Understanding (MoU) for the State Government Salary Package (SGSP), introducing enhanced banking services and financial benefits for state government employees.
Chief Minister Conrad K. Sangma attended the signing ceremony, which marked the replacement of the earlier agreement signed in 2012 with a comprehensive salary banking package offering improved financial security and modern banking solutions.
The revised SGSP provides a host of new benefits, including enhanced insurance coverage, concessional loan facilities, upgraded digital banking services, family banking benefits and several value-added financial services. The benefits will be available to both existing SGSP account holders and newly recruited state government employees.
Speaking on the occasion, the Chief Minister said the government remains committed to the welfare of its employees by ensuring access to better financial products and modern banking services. He added that the revised partnership reflects the government’s efforts to improve service delivery while promoting financial inclusion and digital banking across Meghalaya.
According to official figures, as of June 30, 2026, more than 43,000 state government employees maintain their salary accounts with SBI under the SGSP, representing nearly 71 per cent of the state’s government workforce. Over 33,000 employees have also availed various loan facilities from the bank.
Under the revised agreement, employees will receive enhanced benefits such as the introduction of a Rhodium Salary Package, 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, access to YONO SBI and other digital banking services, free online fund transfers and family banking benefits through SBI Rishtey.
The Chief Minister also appreciated SBI’s 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, with both sides reaffirming their commitment to improving employee welfare through secure, accessible and technology-driven banking services.
