Assam has signed a MoU with SBI and UBI to provide insurance benefits.
MOUs and Agreement
On January 1, 2025, the Government of Assam signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) and Union Bank of India (UBI) to provide insurance benefits to state government employees.
- The goal of this agreement is to offer zero-premium insurance coverage and extra benefits to over four lakh permanent state government employees.
- The decision was made during a cabinet meeting held in North Lakhimpur, Assam. The Finance Department of Assam was authorized to work with Scheduled Commercial Banks (SCBs).
- After discussions with several SCBs, the department selected SBI and UBI for the first phase of partnerships, with immediate effect, and will issue a detailed Standard Operating Procedure (SOP) to ensure smooth implementation and maximum benefits for employees.
Main Point :- (i) The Treasury Officer at each district headquarters will serve as the Nodal Officer, coordinating with banks to resolve issues, ensure smooth implementation of salary benefits, and assist employees with insurance claims, while each participating bank will appoint a Nodal Officer, with contact details provided in the SOP issued by the Finance Department of Assam.
(ii) The insurance provides comprehensive coverage, including Term Life Insurance with a minimum of Rs. 10 lakh for natural death (illness or accidents), Accidental Death Insurance with a minimum of Rs. 1 crore, and Air Accident Insurance with Rs. 2 crore coverage for deaths caused by air crashes.
(iii) It also offers significant protection against disabilities, including Permanent Total Disability Insurance with up to Rs. 1 crore and Permanent Partial Disability Insurance with up to Rs. 80 lakh coverage.
About Assam
CM : Himanta Biswa Sarma
Governor: Lakshman Prasad Acharya
____________________________
