Nagaland Police inks MoU with SBI to give financial services

Time of India

03-05-2025

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Dimapur: The
Nagaland police
department on Saturday signed a memorandum of understanding (
MoU
) with the
State Bank of India
(SBI) for
police salary package account
(PSPA) and to provide better financial services and welfare to serving police personnel.
The MoU was signed by Nagaland DGP Rupin Sharma and general manager, SBI, NW-II Guwahati circle, Dhruba Charan Bal at a ceremony organised at the PHQ conference hall in Kohima in the presence of senior officers of both Nagaland Police and State Bank of India, a release said.
Under the agreement, the SBI will offer financial package to Nagaland police personnel. These include upgraded insurance benefits of Rs 1 crore for personal accidental cover, upgraded air accidental cover up to Rs 2 crore, permanent total disability cover up to Rs 1 crore and permanent partial disability cover up to Rs 80 lakh. "The key highlight of the PSPA is the provision of Rs 10 lakh natural death cover for personnel dying in harness," the release read. It said the SBI will also provide family savings accounts for up to four family members with zero balance facility and accident cover up to Rs 5 lakh per family account holder.
"Once the package comes into effect, around 20,000 police personnel whose bank accounts are with SBI will get the benefit of the package," DGP Sharma said.