Now, Thane co-op bank gets Maharashtra cabinet nod to open salary accounts of govt employees

Mumbai, Feb 25 (PTI) The Maharashtra cabinet on Tuesday approved opening of salary accounts of state government employees in Thane Janata Sahakari Bank (TJSB), over a month after allowing another cooperative bank headed by a BJP MLC to handle salary disbursal.

The cabinet also gave a nod to the state public undertakings to invest excess funds in the TJSB, a statement issued by the government after Chief Minister Devendra Fadnavis-led cabinet meeting said.

The TJSB fulfils the norms prescribed by the Reserve Bank of India (RBI), it said.

The cabinet also allowed pension accounts to be opened in the TJSB, it said.

Last month, the state government had given a nod to open accounts for disbursal of salaries and allowances of state government employees in the Mumbai District Central Cooperative Bank, controlled by BJP MLC Pravin Darekar, a close aide of CM Fadnavis.

The TJSB began its operations in 1972 and it was inaugurated by former prime minister Atal Bihari Vajpayee.

Apart from Maharashtra, it has branches in Gujarat, Karnataka, Madhya Pradesh and Goa. PTI PR NP

Source: PTI