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Jharkhand Government and SBI Ink MoU to Offer Insurance Benefits to State Employees.

Banking & Finance | Dated: 23 Apr 2025

In April 2025, the Government of Jharkhand and Mumbai (Maharashtra)-based State Bank of India (SBI) signed a Memorandum of Understanding (MoU) to provide insurance and financial benefits to Jharkhand government employees with salary accounts in SBI.

🎯 Key Highlights:

- The MoU was signed by Rajeshwari B, Special Secretary of the Finance Department, and Devesh Mittal, Deputy General Manager of SBI, in the presence of Hemant Soren, Chief Minister of Jharkhand, and Radha Krishana Kishore, Finance Minister of Jharkhand.

💡 Other Important Facts:

(i) Employees will receive accidental insurance coverage of up to ₹1 crore in case of death or disability due to accidents.
(ii) Additional health and life insurance benefits will be provided at no extra cost.
(iii) Earlier, about 70,000 police personnel were covered under similar benefits (as of September 2024). With this new MoU, an additional 1.05 lakh employees will be included, taking the total coverage to approximately 1.75 lakh state government employees.

📚 Test Your Knowledge:

Which state government has recently signed an MoU with SBI to provide insurance benefits to its employees?

Correct Answer: Jharkhand

🚀 Quick Recap:

About SBI

Chairman : Challa Sreenivasulu Setty
Headquarter : Mumbai