Which banks signed a Memorandum of Understanding (MoU) with the Assam Government in the first phase to implement employee insurance and salary benefit schemes?

The correct answer is State Bank of India and Union Bank of India. In News In a cabinet meeting held in North Lakhimpur, Assam, the state government authorized the Finance Department to collaborate with Scheduled Commercial Banks (SCBs) for employee benefit schemes. Following discussions, the first phase of partnerships was finalized with State Bank of India (SBI) and Union Bank of India (UBI) . Key Points The MoUs take effect immediately, with a Standard Operating Procedure (SOP) issued for smooth implementation. Each empaneled bank will appoint a Nodal Officer, and treasury officers at district HQs will coordinate implementation and grievance resolution. Additional Information Term Life Insurance: Minimum ₹10 lakh for natural death (illness/accident). Accidental Death Insurance: ₹1 crore. Permanent Total Disability: Up to ₹1 crore; Permanent Partial Disability: Up to ₹80 lakh. Air Accidental Insurance: ₹2 crore for air crash-related deaths. About Assam: CM – Himanta Biswa Sarma; Governor – Lakshman Prasad Acharya; Capital – Dispur; National Parks – Kaziranga NP, Manas NP.