In a landmark move to enhance financial wellness for state government employees, the Government of Assam has signed a Memorandum of Understanding (MoU) with AGI Moneey, a leading fintech platform specializing in earned salary access and digital lending solutions.

The partnership will enable over 5 lakh state government employees across various departments to access their Earned Salary Advance (ESA) and Salary-Linked Credit (SLC) facilities through AGI Moneey's secure digital platform. This initiative aims to provide financial flexibility and emergency fund access to employees without any interest burden.

Key Highlights of the Partnership

• Earned Salary Advance (ESA): Employees can withdraw up to 50% of their accrued but unpaid salary anytime during the month through a simple mobile app.
• Salary-Linked Credit (SLC): Access to instant credit up to 12x of monthly salary based on salary history with flexible repayment options.
• Zero Interest Model: No interest charged on earned salary withdrawals; only a nominal processing fee of 1% applicable.
• 100% Digital Process: Fully paperless KYC verification and instant bank transfer through the AGI Moneey platform.
• Auto-Repayment: The withdrawn amount is automatically deducted from the employee's next month's salary.
• RBI Compliant: All transactions processed through RBI-regulated NBFC partners ensuring full regulatory compliance.
• Bank-Grade Security: 256-bit encryption and multi-factor authentication for secure transactions.

Leadership Statements

Speaking at the signing ceremony held at Janata Bhawan, Guwahati, Shri Himanta Biswa Sarma, Hon'ble Chief Minister of Assam, said, "This partnership with AGI Moneey represents our government's commitment to leveraging technology for the welfare of our employees. By providing earned salary access, we are ensuring that our hardworking government employees have financial support when they need it most, without falling into debt traps of high-interest loans."

Mr. Sharad Agiwal, Director of AGI Moneey, added, "We are deeply honored to partner with the Government of Assam. Our mission has always been to democratize access to earned wages and provide financial wellness to employees. This MoU is a significant milestone in our journey towards making financial services accessible, affordable, and transparent for all. We look forward to serving the dedicated employees of the Assam Government."

How It Works

Eligible government employees can download the AGI Moneey mobile application, complete a one-time Aadhaar-based KYC verification, and instantly access their earned salary. The platform calculates the accrued salary in real-time and allows withdrawal of up to 50% of the earned amount. The withdrawn funds are credited to the employee's bank account within minutes.

Impact and Reach

This initiative is expected to benefit over 5 lakh employees across all departments of the Assam Government, including education, health, police, administration, and public works. It provides a financial safety net for emergency expenses such as medical needs, education fees, family events, and other unforeseen requirements without resorting to high-interest informal lending.

About AGI Moneey

AGI Moneey is a leading fintech platform dedicated to providing innovative financial wellness solutions including Earned Salary Access, Salary-Linked Credit, and Personal Loans. Backed by RBI-compliant NBFC partners, AGI Moneey serves thousands of employees across India with its 100% digital, paperless platform.

Media Contact

For media inquiries, please contact:
Corporate Communications
AGI Moneey Fintech Private Limited
Email: office@agiwalfinance.com
Phone: 011-46011578