Mumbai: The Maharashtra state cabinet on Tuesday approved a proposal to allow government employees to open salary accounts with the Thane Janata Sahakari Bank (TJSB), a multi-state cooperative bank with alleged ties to the Rashtriya Swayamsevak Sangh (RSS).
Additionally, the cabinet permitted government undertakings and corporations to invest their surplus funds in the bank, reported Times of India. TJSB, founded in 1972, currently operates 149 branches and boasts a business mix of Rs 23,000 crore, with profits of Rs 216 crore and deposits totaling Rs 14,588 crore, according to its official website.
The report citing the government’s press release highlighted that TJSB met the Reserve Bank of India’s (RBI) criteria for financial viability and stability, leading to its selection. The recommendation to include TJSB in the list of eligible banks for salary accounts was made by the state’s cooperative, textiles and marketing department. The bank has also been authorized to handle personal accounts for pensioners.
TJSB’s Ties With RSS
The RSS connection to TJSB has been a topic of discussion. During the bank’s golden jubilee celebrations in 2022, RSS chief Mohan Bhagwat was the chief guest. Furthermore, the RSS mouthpiece Organiser had described TJSB as an “RSS-inspired initiative in the cooperative sector” in 2013. At the inauguration of a TJSB branch in Bengaluru, senior RSS leader Dattatreya Hosabale remarked, “The TJSB belongs to the Sangh family where I am coming from.”
Despite these affiliations, TJSB officials refrained from commenting on the bank’s connection with the RSS. A senior bank official told TOI, “We are a professional organisation with a Rs 23,000 crore business mix.”
Bank Chosen Solely On Financial Performance: BJP Spokesperson
Addressing the controversy, BJP spokesperson Keshav Upadhyay emphasized that TJSB was chosen solely based on its financial performance and eligibility criteria. “Other questions are not relevant,” he added, dismissing concerns about the bank’s ideological affiliations.
The decision to include TJSB for salary accounts and investments has stirred discussions, particularly given its perceived RSS links. However, the state government insists that the move is based on financial merit and regulatory compliance.
