120 Employees Avail Credit Within 12 Hours of Assam’s Salary-Linked Credit Scheme Launch

Guwahati: Assam Chief Minister Himanta Biswa Sarma on Sunday said the newly launched Employee Salary-Linked Credit (SLC) scheme has received a strong response, with over 120 beneficiaries availing credit within the first 12 hours of its launch.

“Great start for the Employee Salary-Linked Credit (SLC) Scheme. Within 12 hours of launch, 120 beneficiaries and nearly ₹90 lakh in credit have been facilitated,” the Chief Minister said in a social media post.

He added that the scheme is being delivered through FinAssam, the state’s digital financial platform designed to enable fast, paperless and transparent access to credit for government employees.

The SLC scheme is part of a broader financial initiative launched by the Government of Assam on Saturday, which also introduced the Earned Salary Advance (ESA) scheme for regular state government employees.

The initiative aims to improve financial access and employee welfare within the state administration by offering quick and transparent short-term salary advances as well as longer-tenure credit facilities.

Under the ESA component, employees can access a portion of their earned salary before payday to meet urgent financial needs. The SLC component allows employees to avail structured personal loans linked to their salary with repayment tenures of up to five years.

To implement the scheme, InstaPe has been empanelled as the service provider and will work in partnership with Suryoday Small Finance Bank and Mufin Green Finance, which will serve as the lending institutions under the programme.

As per reports, the initiative is expected to make credit access easier for government employees while ensuring a transparent and fully digital loan process.

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