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 and financial benefits for government employees.
Replacing the 2012 agreement, the revised package offers higher insurance coverage, concessional loan facilities, upgraded digital banking services, family banking benefits and other value-added financial services for both existing SGSP account holders and newly recruited employees.
Chief Minister Conrad K. Sangma, who attended the signing ceremony, said the revised partnership reflects the Government’s commitment to improving employee welfare by providing better financial products and modern banking solutions.
As of June 30, 2026, more than 43,000 State Government employees maintain SGSP salary accounts with SBI, accounting for nearly 71 per cent of the State’s workforce, while over 33,000 employees have availed various loan facilities from the bank.
He also appreciated SBI’s contribution towards financial inclusion in Meghalaya through its banking network and support for various government schemes.