In a bid to encourage its employees to perform better, Maharashtra State Cooperative (MSC) Bank has announced a 12 percent bonus, the highest ever in the history of the bank.
The bonus will be given to more than 800 employees of the bank working in the Head office and different branches spread across the state.
Sharing the news with Indian Cooperative Vidyadhar Anaskar, Chairman of the Administrative Board of MSC Bank said, “We have announced to give a 12 percent bonus to our employees which is the highest ever in the history of the bank.”
“This will encourage the officials and employees to perform better to take the bank to newer heights. Those employees who are having attendance more than 65 percent are eligible to get the benefits”, he added.
“There are six employee unions associated with MSC Bank. Before announcing the bonus, I had taken a meeting of the representatives of employee unions, in which it was unanimously passed that if any employee of the bank approaches ministers, MLAs or any other higher authorities to take advantage of political influence, he will be denied denied bonus and other benefits”, Anaskar said to this correspondent on the phone.
He further said, we have seen that several employees of MSC Bank used their political connection for their transfer and promotion, they will not be entitled to avail the other benefits apart from salary. This move will strengthen the morale of employees not having political influence but doing the work very sincerely.
It is notable that, when other cooperative banks are grappling with the aftershocks of Covid-19, Maharashtra state cooperative (MSC) bank succeeded in achieving the 0% Net NPA and earned a net profit of Rs 325 crore in the 2019-2020 FY.
For the first time in the history of 109 years, the MSC has surpassed many records for the FY ended on 31st March, 2020. The Bank’s total business rose from Rs 35,439 crore to 41,666 crore in 2019-20 FY”.