The Maharashtra State Cooperative Bank (MSC Bank) has announced a 14.25 per cent bonus for its employees ahead of Diwali, with payouts ranging from Rs 57,000 to Rs 5.36 lakh. The average bonus is Rs 81,515, according to the bank’s announcement.
The bonus rate has increased from 9 to 14.25 per cent over the past eight years, reflecting the bank’s growth and its approach to recognising employee contributions. The latest payout is expected to provide a financial boost to employees ahead of the festive season.
The announcement comes as the bank reports substantial growth in business despite a reduction in its workforce.
Around eight years ago, MSC Bank had 3,415 employees and total business of Rs 5,612 crore. Its workforce has since declined to 777 employees, while its business has grown to nearly Rs 56,000 crore.
The bank attributes this growth to improved employee productivity, operational efficiency, modern working practices and management planning. Its reported business per employee stands at Rs 1.68 crore.
MSC Bank has also extended its employee- welfare measures to retired staff. In 2024, it introduced a pension scheme for retired employees, which the bank describes as the first of its kind among cooperative banks in India. The initiative aims to provide financial security to former employees alongside the recognition extended to its serving workforce.
As of 31 March, 2026, the bank reported a Capital to Risk-Weighted Assets Ratio (CRAR) of 18.50 per cent, a 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 its net non-performing assets (NPA) ratio was 1.64 per cent.
The Maharashtra State Cooperative Bank is the state’s apex cooperative bank, operating through six regional offices and 54 branches across Maharashtra.
The bonus announcement was made by the bank’s administrator, Vidyadhar Anaskar, as the institution continues to link employee recognition with its business performance.
