The Maharashtra State Cooperative Bank (MSC Bank) has announced a 14.25% bonus for its employees ahead of Diwali, bringing festive cheer to its workforce and reaffirming the bank’s commitment to recognising employee contributions.
The bonus rate has steadily increased over the past eight years, rising from 9% to 14.25%, reflecting the bank’s growth and its recognition of employees’ contribution to its performance.
Under the latest announcement, employees will receive a minimum bonus of Rs 57,000 and a maximum of Rs 5.36 lakh, while the average payout will be Rs 81,515. The decision has brought considerable enthusiasm among employees ahead of the festive season.
A notable aspect of the bank’s growth is the sharp improvement in business despite a significant reduction in workforce. Around eight years ago, when the bank had 3,415 employees, its total business stood at Rs 5,612 crore.
Today, with a workforce of just 777 employees, its business has reached nearly Rs 56,000 crore. This growth reflects improved employee productivity, operational efficiency, modern working practices and effective management planning.
The bank has also extended its commitment to employee welfare beyond those currently in service. In 2024, it introduced a pension scheme for retired employees, becoming the first cooperative bank in the country to implement such a scheme, according to the bank. The initiative underlines its focus on both recognising the contribution of serving employees and ensuring the financial security of retirees.
The bank’s financial position as on March 31, 2026, further highlights its institutional strength. It reported a Capital to Risk-Weighted Assets Ratio (CRAR) of 18.50%, net worth of Rs 15,747 crore and own funds of Rs 18,175 crore. Its total business stood at Rs 1,56,249 crore, while Net Non-Performing Assets (Net NPA) were 1.64%. Business per employee was reported at Rs 1.68 crore.
The Maharashtra State Cooperative Bank is the apex cooperative bank of the state and operates through six regional offices and 54 branches across Maharashtra.
The bonus announcement was made by the bank’s Administrator, Vidyadhar Anaskar, reaffirming the institution’s commitment to sharing the benefits of its growth with its employees.
