The Maharashtra Cupboard on Tuesday allowed Rashtriya Swayamsevak Sangh (RSS)-linked Thane Janata Sahakari Financial institution (TJSB) to open wage accounts of presidency staff and to simply accept funding of surplus funds from authorities companies.
In January, an analogous grant was given to ruling Bharatiya Janata Occasion (BJP) MLC Pravin Darekar-headed Mumbai District Central Co-operative Financial institution.
Other than the permission to open wage accounts, the TJSB will now be eligible to simply accept funding of surplus funds from authorities companies resembling Mumbai Metropolitan Area Growth Company (MMRDA), Metropolis and Industrial Growth Company (CIDCO), Maharashtra Housing and Space Growth Authority (MHADA) and Slum Rehabilitation Authority (SRA).
In March 2020, the Maharashtra authorities had directed all departments to open wage and pension accounts in nationalised banks solely. In August 2020 and in November 2020, the choice was modified and co-operative sector banks have been additionally allowed for the above talked about transactions.
Whereas TJSB is a multi-state scheduled cooperative financial institution, the checklist of district co-operative banks will get up to date yearly based mostly on the criterion on annual audit and credit score reserve ratio. The 14 DCCBs allowed in October 2023 are Thane, Raigad, Ratnagiri, Sindhudurg, Ahmadnagar, Pune, Satara, Sangli, Kolhapur, Latur, Akola, Bhandara, Chandrapur and Gadchiroli.
An Organiser article printed in Could 2013 states that TJSB is an RSS-inspired initiative within the co-operative sector. In addition to, the present chairman of the financial institution, Sharad Narahar Gangal is the central government committee member of Sahakar Bharti, an RSS affiliated co-operative organisation.
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