All State Govts SBI Salary Package Details

All State Govts SBI Salary Package Details

PERSONAL BANKING BUSINESS UNIT CORPORATE AND INSTITUTIONAL TIE-UPS
NEW PRODUCT: STATE GOVERNMENT SALARY PACKAGE (SGSP) FOR PERMANENT EMPLOYEES OF STATE GOVERNMENTS AND UNION TERRITORIES WITH NEW CUSTOMER TYPE AND NEW PRODUCT CODES

We are pleased to advise that we are now offering a new customized package, the State Government Salary Package (SGSP) to employees and officials of all State Governments and Union Territories, details of which are contained in Annexure I and II.

2. The concessions detailed in the package will be applicable only to the permanent employees of all State Governments and Union Territories who maintain their Salary accounts with us. The Concession on Home Loans, Auto Loans and Xpress Credit loans will be available up to 31.10. 2011 and will be continued thereafter subject to review.



3. The concessions proposed under the above tie-up will not be in addition to concessions available under tie-ups with builders, special pricing structure for High Value Housing Loans, festival/mega bonanza offers, fairs /exhibitions /other promotional campaigns etc. The margin on Housing Loan will be in line with risk based premium/ discounted interest rates. All other terms and conditions of the scheme(s) will be complied with.

4. To facilitate mining of information in CBS:
a) The Customer Type will be 010215, which needs to be captured while opening/ converting the existing CIF of personnel of State Governments and Union Territories.

b) The Product Codes will be as under:
1096- 1431 SBCQ- SGSP-PUBIND-SILVER-INR 1096-1441 SBCQ-SGSP-PUBIND-GOLD-INR
1096-1451 SBCQ-SGSP-PUB-DIAMOND-INR 1096-1461 SBCQ-SGSP-PUBIND-PLATINUM-INR

The Package will come in four variants, which will be distinguished by the designation of the employees rather than their salaries. (Refer Annexure I)

5. As regards Account opening:
a) KYC formalities would have to be completed by the branch concerned as usual and
b) The branches will have to upload the mandatory 8 Fields as per extant instructions.
6. All new accounts should be opened with Non-Personalised Welcome Kits (NPWKs).

Please ensure that adequate supplies of NPWKs are requisitioned. Non availability of NPWKs should however not be a reason for delay in opening of accounts.
7. The existing accounts of employees of State Governments and Union Territories opened as ordinary Savings Account or CSP accounts can be converted into SGSP accounts. Please obtain application from the individual account holders as per Annexure III requesting for conversion of existing accounts to SGSP.

8. Strategies for Marketing:
i) A formal offer letter to be addressed to the Chief Secretary, Government of (***), with a copy to the Principal Secretary, Finance. The offer should be made personally by the Circle Chief General Manager or Net Work GM, with an emphasis on supporting the State’s IT initiatives of electronic salary uploads, Easy Pay cards to substitute all cash disbursements, other vendor payments, etc.

ii) The DGM/ AGM Government Business, DGM/AGM PBBU and AGM IT should follow up this meeting with presentations on CINB, the benefits of SGSP (an offer unmatched by other banks), the advantages of Inter Core funds transfers as compared to NEFT, etc. These strategies have been implemented successfully by Bhopal Circle.

iii) Mapping of branches with offices of State Governments and Union Territories.
iv) Designating a suitable Officer as a Relationship Manager for the State Government/ UT as a contact point for banking related issues and also for undertaking the marketing of SGSP.
v) Appropriate Publicity material on the lines of “Z Cards” or leaflets to be printed locally, detailing the features of SGSP and other relevant retail assets and liability products. This should be distributed at their offices.

vi) Kindly arrange to set up Account Opening Help Desks in their Offices, on pre- determined dates.

vii) Kindly review the need for new branches/ relocation of existing branches/ their renovation and most importantly, the requirement of additional ATMs to service the needs of the employees of State Governments and Union Territories.

viii) Please arrange to publicise the scheme extensively through all available local media. Display of posters, banners, gates, etc may be used extensively at their locations.

9. Please arrange to advise the operating units under your control to open accounts/ convert existing accounts of permanent employees of State Government and Union Territories under SGSP.
10. The scale of the initiative being massive and so also its business implications, we request that your personal attention is bestowed on monitoring opening of accounts under SGSP. Yours faithfully,
sd/-
General Manager (PB)
Encl :a/a

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