PATNA, July 8 -- In a move to bolster financial security and banking access of the lawmakers and its workforce, the Bihar government has entered into the State Government Salary Package (SGSP) agreement with nine nationalised banks. This initiative, as announced by deputy chief minister Samrat Choudhary, ensures that all ministers, members of the state legislature and employees (both regular and contractual) not only receive timely salaries but also gain access to a comprehensive suite of financial and social benefits designed to empower them economically. Under the SGSP, ministers, MLAs, MLCs and the state employees can now open salary accounts with any of the nine participating nationalised banks, including State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, Union Bank of India, Central Bank of India, Canara Bank, Indian Bank and UCO Bank, granting them the freedom to choose their preferred banking institution. The agreement transcends traditional salary disbursement by offering an array of services, including extensive insurance coverage, discounted loans and free digital banking facilities, all tailored to enhance salaried people's financial well-being. A key highlight of the SGSP is its robust insurance offerings. Beneficiaries of the scheme would be entitled to personal accident insurance ranging from Rs.40 lakh to Rs.1 crore, with coverage escalating to Rs.1 crore to Rs.1.6 crore if the accident occurs during travel. In cases of permanent disability, financial assistance between Rs.80 lakh and Rs.1 crore will be provided. Additionally, the package includes Rs.5 lakh of insurance for up to four family members and group insurance coverage of up to Rs.10 lakh, ensuring comprehensive protection for the salaried persons and their loved ones. Beyond insurance, the SGSP offers significant banking perks. Health top-up insurance will be available at concessional rates, while loan processing fees are slashed by 50% to 100%. Digital banking services - such as standing instructions, auto sweep, RTGS, and NEFT- are provided free of charge. Ministers, lawmakers, officials and staff will also enjoy special concessions on overdraft facilities and other banking services, making financial management more accessible and affordable. Deputy CM Choudhary underscored the transformative impact of the SGSP, stating, "This is not just a medium for salary distribution but a complete solution for the security and future of our employees." He emphasised that the system is transparent, well-organised and technology-driven, ensuring a seamless and dignified banking experience for all employees. The agreement reflects the Bihar government's commitment to improving the welfare of its legislatures and executives. By integrating salary payments with a wide range of financial benefits, the state aims to deliver a secure and empowering banking ecosystem. Choudhary expressed gratitude to bank officials and the finance department for their role in implementing this initiative, noting that it lays a strong foundation for future enhancements. This pioneering agreement is poised to significantly elevate the financial stability of Bihar's state salaried class, offering them not only reliable salary access but also a robust framework for their long-term security and prosperity....