Kolkata, Nov. 5 -- The Suvendu Adhikari government has introduced the West Bengal Salary Advance Scheme, providing a digital platform for employees to avail short-term and multi-month salary advances. State government employees will now be able to access salary advances to meet emergency needs, including medical expenses, children's education and unforeseen household expenditures.
A notification issued by the state Finance department offers institutional financial assistance and reduces dependence on high-interest loans from external sources. It will cover regular government employees across Groups A to D and equivalent categories.
Short-term and multi-month advances will be offered under the scheme. Under the short-term facility, employees can avail up to 50 per cent of their monthly salary entitlement to meet urgent financial requirements.
The amount must be repaid within the same or immediately succeeding salary cycle, subject to a maximum of 60 days, as specified in the memorandum of understanding (MoU) or platform terms. No interest, processing fee, or platform fee will be charged if repayment is made within the stipulated period. The multi-month facility is meant for larger, planned expenditures, allowing repayment in instalments over 2 to 60 months. The tenure cannot extend beyond the employee's retirement date.
Meanwhile, the state government has raised the financial ceiling for advances to purchase motorcycles, scooters and electric two-wheelers. Employees can now avail themselves of up to Rs 1.20 lakh. The sanctioned amount will be the lowest of three figures: Rs 1.20 lakh, five months' basic salary or the anticipated purchase cost of the vehicle.
Published by HT Digital Content Services with permission from Millennium Post.