Sanjay Sahay | TNNRanchi: State govt employees in Jharkhand will soon get access to salary advances and other financial services through a non-banking financial company (NBFC), with the cabinet approving a resolution to this effect on Monday.Under the plan, the state govt will empanel an NBFC to set up and manage a digital platform for employees. The platform will offer salary advances, saving instruments, insurance schemes, credit products and other value-added services aimed at improving their financial condition.Officials said the move was proposed because employees often require additional money for urgent or essential needs but face difficulty in the absence of a reliable alternative. In many cases, they are compelled to borrow at high interest rates to meet such expenses.The NBFC will provide an alternative financing channel through the platform. The govt has also kept open the possibility of other reputed financial service providers joining the system to expand the range of services available to employees.Among the proposed facilities, employees will be able to avail of a 30-day salary advance online. They will also have the option of taking salary advances for periods ranging between two months and 60 months, repayable on a long-term basis.The proposed arrangement will be on the lines of advance salary and related facilities being offered by the state govts of Goa and Rajasthan through NBFCs. The Jharkhand govt will select the NBFC through a tender process before rolling out the platform for its workforce.