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The Janaseva Sahakari Bank Limited was formally established in Pune, Maharashtra, on October 24, 1972, an auspicious Dussehra day, and inaugurated shortly thereafter on November 7, 1972. Its founding came during a period of strong momentum for the Co-operative Movement in the Indian economy, with its genesis traced back to the efforts of social activists including the late Shri. Babarao Bhide, Hon. Shri. Madhukarraoji Temgire, Shri. D.A. alias Mama Hajare, and Shri. Devramji Abnave. Founded with an initial paid-up capital of ₹56,000, the institution was conceived with the aim of catering to community needs in the cooperative sector.

The bank operates today as an Urban Co-operative Bank (UCB) and is neither a public sector nor a traditional private sector commercial bank, but an institution governed by the cooperative framework and supervised by the Reserve Bank of India (RBI). With a network that has expanded to approximately 20 branches across Maharashtra, the bank has maintained a regional focus. It holds significance in the Indian financial system as an enduring member of the UCB sector, one that reached a total business mix of over ₹3,000 crore in recent years. Furthermore, its recent removal from the RBI’s Supervisory Action Framework (SAF) highlights its journey toward regulatory compliance and financial resilience, reinforcing its ongoing role in strengthening the cooperative banking structure at the grassroots level.