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This is an employees’ cooperative society formed by the officer cadre permanent employees of State Bank of India, North-eastern Circle limited to themselves. It was formed under the leadership of our former Deputy General Secretary, SBI Officers’ Association (NE Circle), Jorhat Module, Late Suresh Neog. The society’s office is located at the premises of SBI, Regional Business Office, Ground Floor, Na-Ali (M.G. Road), Jorhat-785001. The purpose of the society is to provide thrift opportunities to our members (shareholders) by direct deduction of thrift amount every month from their salary and allowances paid to them by the Bank and to provide general purpose long term loans & emergency loans to the shareholders to meet their requirements matching their long term and/or short term financial goals and needs. Emergency Loans are sanctioned for medical and children’s education purpose only.

Eligibility & Benefits:

(1) Minimum shareholding required : 1 (one) share of face value of Rs.100/- each.
(2) Minimum monthly thrift amount : Rs.2000/- (Rupees Two Thousand only) and in multiples of Rs.1000/- (Rupees One Thousand only) subject to the take-home salary norms of the Bank. (3) Maximum General Purpose/Long Term Loan amount : Rs.8,00,000/- (Rupees Eight Lakh only).
(4) Maximum Emergency Loan amount : Rs.2,00,000/- (Rupees Two Lakh only).
(5) Benevolent Fund Payout on retirement : The society maintains a Benevolent Fund apportioning from the surplus and pays a token sum of Rs.10,000/- (Rupees Ten Thousand only) as the “Cessation dividend” to a retiring member (shareholder) on superannuation retirement with a minimum period of membership (shareholding period) of 3 (three) years.
(6) Benevolent Fund Payout on untimely death : In the unfortunate event of untimely death of a member (shareholder) before retirement from Bank’s service, the bereaved family is provided with the “Ex-gratia payout” of a token sum of Rs.25000/- (Rupees Twenty Five Thousand) only from our Benevolent Fund.

The books & accounts of our society are being audited by Govt auditors/inspectors from the office of the Registrar of Cooperative Societies, Jorhat as well as by the Chartered Accountants of M/s Sharad Bajaj & Associates, Jorhat and accordingly consistently been awarded with a grade of “A” rated society. We all know, there is no limit to the improvement of any initiative, more so when endeavoured collectively with dedicated participations, so we cordially solicit the continuous cooperation through effective and meaningful involvement and suggestions from our members (shareholders) for furthering the objectives of our esteem society.