**Executive Summary**
The Department of Financial Services (DFS), Ministry of Finance, has launched a Composite Salary Account Package for Central Government Employees in association with Public Sector Banks. This package provides a unified framework, integrating banking and insurance benefits for Central Government employees. The initiative aims to provide a one-stop financial solution to enhance the financial well-being and social security of employees.
**Key Points / Main Content**
* **Purpose:** To provide Central Government employees with a comprehensive suite of banking and insurance benefits under a single account structure.
* **Core Segments:** Banking, Insurance, and Cards.
* **Alignment:** Aligned with the Government's vision of Viksit Bharat 2047 and the national commitment towards Insurance for All by 2047.
* **Benefits:**
* **Banking Facilities:**
* Zero-balance salary account with enhanced facilities.
* Free remittances (RTGS/ NEFT/ UPI) and cheque facilities.
* Concessional interest rates on loans for housing, education, vehicle, and personal needs.
* Concession on loan processing charges.
* Waivers on locker rental.
* Family banking benefits.
* **Enhanced Insurance Coverage:**
* Personal Accident Insurance up to Rs. 1.50 crore.
* Air Accident Insurance up to Rs. 2 crores.
* Permanent Total & Partial Disability Cover up to Rs. 1.50 crore.
* Term Life Insurance with additional top-up facility (up to Rs. 20 lakh).
* Health Insurance with additional top-up facility.
* **Digital & Card Features:**
* Enhanced benefits on debit and credit cards.
* Airport lounge access, reward programs, and cashback offers.
* Unlimited transactions & Nil maintenance charges.
* **Promotion:** Public Sector Banks will publicize the product, organize awareness camps, and facilitate the migration of existing salary accounts to the new package with employee consent.
* **Availability:** Complete details are available on the DFS website: [https://financialservices.gov.in](https://financialservices.gov.in).
**Impact Analysis**
**Central Government Employees**
* **Impact:** Gain access to modern banking services and comprehensive financial protection through a single window. They will have ease of access, financial security, and peace of mind.
* **Action Required:** Encouraged to avail the benefits of the comprehensive scheme through their salary accounts with the Public Sector Banks.
**Public Sector Banks**
* **Impact:** Required to promote and implement the Composite Salary Account Package.
* **Action Required:** Widely publicize these products through their official websites, organize special awareness camps in Government Departments, proactively reach out to Central Government employees with detailed product information and facilitate the migration of existing salary accounts to this new package with employees' consent.
Key Entities Referenced
Composite Salary Account Package: A unified salary account framework providing banking and insurance benefits for Central Government employees.
Department of Financial Services (DFS): The Ministry of Finance department launching and promoting the Composite Salary Account Package.
Public Sector Banks: Banks participating in the Composite Salary Account Package for Central Government Employees.
Viksit Bharat 2047: Government's vision aligned to provide Central Government employees with a comprehensive suite of banking and insurance benefits.
Ministry of Finance
Department of Financial Services launches
Composite Salary Account Package for Central
Government Employees in association with
Public Sector Banks
Unified salary account framework provides a one-stop
financial solution with integrated banking and insurance
benefits for Central Government employees
प्रव तथ: 14 JAN 2026 7:28PM by PIB Delhi
The Department of Financial Services (DFS), Ministry of Finance, has taken a significant step towards
enhancing the financial well-being and social security of Central Government employees by advising
Public Sector Banks to introduce a composite ‘Salary Account Package for Central Government
Employees’.The Salary Account Package has been formally launched today, by Sh. M. Nagaraju, Secretary,
Department of Financial Services, Ministry of Finance. The launch event was attended by Chairman SBI,
MD & CEOs of all Nationalized Banks, CEO, NPCI through VC and all senior officers of DFS. This
initiative is aligned with the Government’s vision of Viksit Bharat 2047 and the national commitment
towards Insurance for All by 2047. It seeks to provide Central Government employees with a
comprehensive suite of banking and insurance benefits under a single, seamless account structure. The
packages have been carefully designed in consultations with banks to ensure maximum coverage,
uniformity and convenience for employees across all cadres [Group A, B and C].
The product has three core segments – Banking, Insurance and Cards – making it a one-stop financial
solution for employees. The key features of the Composite Salary Account Package are:
1. Banking Facilities
Zero-balance salary account with enhanced facilitates
Free remittances i.e. RTGS/ NEFT/ UPI along with cheque facilities
Concessional interest rate on loan for housing, education, vehicle and personal requirements.
Concession in loan processing charges
Waivers on locker rental
Family banking benefits
2. Enhanced Insurance Coverage
Personal Accident Insurance up to Rs. 1.50 crore
Air Accident Insurance up to Rs. 2 crores
Permanent Total & Partial Disability Cover up to Rs. 1.50 crore
Term Life Insurance – In-built term life insurance protection of up to Rs. 20 lakh, with
additional top-up facility to enhance the insurance coverage at an affordable premium.
Health Insurance – Comprehensive health insurance cover for self and family with a base plan
and additional top-up facility to enhance the insurance coverage at an affordable premium.
3. Digital & Card Features
Enhanced benefits on debit and credit cards
Airport lounge access, reward programs and cashback offer
Unlimited transactions & Nil maintenance charges
Complete details of the Composite Salary Account Package are available on the DFS website
https://financialservices.gov.in
This initiative ensures that Central Government employees, who form the backbone of public
administration, gain access to modern banking services and comprehensive financial protection through a
single window solution. By integrating insurance, medical cover and enhanced banking facilities into onecomposite Salary Account Package, the scheme provides employees with ease of access, financial security
and peace of mind.
This reform reflects the Government’s continued commitment to employee’s welfare and financial
security, while also strengthening the employee–bank relationship.
DFS has advised Public Sector Banks to widely publicize these products through their official websites,
organize special awareness camps in Government Departments, proactively reach out to Central
Government employees with detailed product information and facilitate the migration of existing salary
accounts to this new package with employees’ consent.
All Central Government employees are encouraged to avail the benefits of this comprehensive scheme
through their salary accounts with the Public Sector Banks.
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