With an aim to provide “better financial services and welfare to the serving police personnel,” the Nagaland Police Department has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) for the Police Salary Package Account (PSPA).
The MoU was signed during a formal ceremony held at the Conference Hall, Police Headquarters (PHQ) on May 3, 2025. Shri Rupin Sharma, IPS, Director General of Police, Nagaland, and Shri Dhruba Charan Bal, General Manager – NW-II, SBI Guwahati Circle, signed the MoU on behalf of their respective institutions.
The signing was witnessed by senior officers from both Nagaland Police and SBI, including Shri Renchamo P. Kikon, IPS, Additional DGP (Administration), and Shri Hubert A.S. Wungshim, Regional Manager, SBI Dimapur.
Under the new agreement, SBI will offer “a wide range of financial package to Nagaland Police personnel” which includes:
Personal Accidental Insurance cover upgraded to Rs 1 crore; Air Accidental cover up to Rs. 2 crores; Permanent Total Disability cover up to Rs 1 crore; and Permanent Partial Disability cover up to Rs 80 lakhs.
A key highlight of the package is the provision of “Rs 10 lakhs Natural Death cover for personnel dying in harness.” Additionally, SBI will provide “Family Saving Accounts for up to 4 (four) family members with Zero Balance facility” and accident cover “up to Rs 5 lakhs per family account holder.”
DGP Rupin Sharma, while addressing the gathering, “highlighted the importance of the benefits provided under the scheme for the welfare of the personnel and their families.”
Once implemented, the package will benefit nearly 20,000 police personnel whose salary accounts are already with SBI. Other personnel “willing to avail the scheme may do so by submitting Application-cum-Undertaking to concerned controlling officers.”