Now, state government employees and pensioners can open their accounts with the 14 District Central Cooperative Banks for salary and pension respectively for the fiscal 2020-21.
The state government has given approval to 14 DCCBs including Thane, Raigad, Ratnagiri, Sindhudurg, Ahmednagar, Pune, Satara, Sangli, Kolhapur, Latur, Akola, Bhandara, Chandrapur and Gadchiroli.
These banks were selected based on the scrutiny of the audit report for the last five years and their performance.
State finance department deputy secretary Indrajit Gore on Friday released government notification allowing these 14 DCCBs to do transactions with regard to salary of employees in service and pension of retired ones.
As reported by Free Press Journal, the state government on August 13, 2020 had given its nod to DCCBs, IDBI and Regional Rural Banks (RRBs) to do government transactions including salaries and pensions.
These banks will be in addition to the nationalised or public sector banks. The DCCBs, which are financially sound, had to enter into an agreement with the government.
After the 14 DCCBs completed necessary formalities including entering into an agreement, they can initiate transactions. As per the government notification, it will revise the list of banks in July.