Assam's New Salary-Linked Credit Scheme Disburses ₹90 Lakh in 12 Hours
The Government of Assam has launched a new financial initiative to support its employees. The Employee Salary-Linked Credit (SLC) scheme, introduced alongside the Earned Salary Advance (ESA) programme, aims to provide quick and structured financial assistance. Within the first 12 hours of its rollout, over 120 employees accessed nearly ₹90 lakh in credit through the scheme.
The SLC scheme offers two key benefits: short-term salary advances and longer-term personal loans. Employees can borrow against their future earnings with repayment periods extending up to five years. The programme is designed to improve financial access and overall welfare for state administration staff.
The ESA component allows workers to withdraw a portion of their earned salary before payday. This feature helps address urgent financial needs without waiting for the next pay cycle. InstaPe has been selected as the service provider for the SLC scheme. It will collaborate with Suryoday Small Finance Bank and Mufin Green Finance, which will handle the lending process. The scheme forms part of a wider financial push by the Assam government to support its workforce.
The rapid uptake of the SLC scheme highlights its immediate demand among employees. With ₹90 lakh disbursed in the first half-day, the programme has already shown tangible results. The partnership between InstaPe, Suryoday Small Finance Bank, and Mufin Green Finance ensures structured and accessible credit for eligible staff.
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