Maharashtra allows Govt Employees to open Salary Accounts with Thane Janata Sahakari Bank
The Maharashtra state cabinet has approved a proposal allowing government employees to open salary accounts with the Thane Janata Sahakari Bank (TJSB). This decision has drawn attention because of the bank’s alleged links to the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist organization.
Government’s Decision and Financial Standing
Along with permitting salary accounts, the government has also allowed state undertakings and corporations to invest their surplus funds in TJSB. The bank, established in 1972, currently has 149 branches, a business mix of ₹23,000 crore, deposits of ₹14,588 crore, and annual profits of ₹216 crore, as per its official website.
According to the Maharashtra government’s press release, TJSB met the Reserve Bank of India’s (RBI) financial viability and stability criteria, making it eligible for this decision. The state’s cooperative, textiles, and marketing department recommended including TJSB in the list of banks allowed to handle government salary accounts. Pensioners can also open personal accounts with the bank under this arrangement.
RSS Links and Controversy
The RSS connection to TJSB has been a subject of debate. During its golden jubilee celebrations in 2022, RSS chief Mohan Bhagwat was the chief guest. Additionally, in 2013, the RSS mouthpiece Organiser described TJSB as an “RSS-inspired initiative in the cooperative sector.” Senior RSS leader Dattatreya Hosabale also acknowledged its ties to the Sangh while inaugurating a branch in Bengaluru.
However, TJSB officials have refrained from commenting on these affiliations. A senior bank official told Times of India, “We are a professional organization with a ₹23,000 crore business mix.”
Political Reactions
BJP spokesperson Keshav Upadhyay defended the decision, stating that TJSB was chosen purely on financial grounds. “Other questions are not relevant,” he said, dismissing concerns about the bank’s ideological background.
Public Response and Future Implications
The Maharashtra government’s move has sparked discussions, particularly among opposition parties and financial experts. While the government insists the decision is based on financial strength and regulatory compliance, critics argue that ideological influence may have played a role.
It remains to be seen how this decision will impact the banking landscape for government employees and the cooperative sector in Maharashtra.
