The Government of Assam today launched the Earned Salary Advance (ESA) and Salary Linked Credit (SLC) scheme for regular State Government employees. The initiative was formally launched on Sunday, March 15, marking a significant step towards improving financial access and employee welfare within the state administration. The initiative reflects the vision of Hon’ble Chief Minister Dr Himanta Biswa Sarma to strengthen financial access and employee welfare within the state administration.
The scheme is designed to provide quick, transparent, and responsible access to short-term salary advances and longer-tenure credit facilities for eligible government employees. The Directorate of Accounts & Treasuries, Government of Assam, will serve as the implementation authority for the programme.
Under the scheme, employees will be able to avail:
Earned Salary Advance (ESA) – allowing employees to access a portion of their earned salary before payday to meet urgent financial needs.
Salary Linked Credit (SLC) – enabling employees to access structured personal loans linked to their salary with repayment tenures of up to five years.
To facilitate the smooth execution of the initiative, InstaPe has been empanelled as a service provider, working in partnership with Suryoday Small Finance Bank and Mufin Green Finance, who will serve as the lending institutions under the programme.
Narayan Rao, Director and Co-Founder of InstaPe, said: “We are honoured to be empanelled by the Government of Assam for this important initiative. We look forward to delivering our best-in-class services to the employees of the Assam Government and contributing meaningfully towards the broader vision of financial inclusion and financial wellness for all.”
InstaPe is a financial wellness platform focused on salaried employees. The company partners with Government institutions, Public Sector Undertakings, and Private Sector organisations to provide employees with responsible access to financial products and services aimed at enhancing financial well-being.
The launch of the ESA and SLC scheme reflects the Government of Assam’s continued commitment to leveraging technology and responsible financial services to improve the financial resilience and well-being of its workforce.
