Maharashtra State Co-operative Societies Act, 1960 paved way for the inception of Janakalyan Sahakari Bank on 29th May 1974. After acquiring necessary license from RBI, the bank started its operations on 15th August, 1974.
The bank has grown steadily since its inception primarily due to reasons such as transparency in its operations, professional administration and lots of personalized services. The bank also takes pride in its social commitment. Currently, in Maharashtra, Janakalyan is one of the leading state co-operative banks.
The bank currently has 55,000 shareholders, 3,60,000 depositors and 12,500 borrowers which demonstrate the kind of faith public and its customers have in it.
The registered office of the bank is Vivek Darshan, 140, Sindhi Society, Chembur, Mumbai – 400 071, India.
The Janakalyan Sahakari Bank operates with the aim of getting complete customer satisfaction by leveraging modern technology to provide its customers with efficient, quick and diversified services, while keeping the costs low.
Shri Chandrashekhar Narayan Vaze who was elected as a Board of Director in the year 2008, was unanimously elected as the Chairman of the bank in 2010. Supporting Shri Vaze as the vice-chairman is Shri Santosh Vasant Kelkar, who had served as the Director of the bank for 12 years before being elected as the vice-chairman after the constitution of new board of directors.
The bank currently has 25 completely computerized centers along with one extension center in New Pavel and each of these are strategically placed in and around Mumbai so as to have better reach and serve their customers more efficiently. Janakalyan Bank strives to provide the best services to its client base, which comprises mostly of middle class people. Customer satisfaction is given utmost priority in the bank, so much so that lots of services and products are customized to meet customer demands in a more effective way.
The bank has achieved a new milestone of Rs 3,449 crore of business mix along with deposits of Rs 2,000 crore and advances of Rs 1,449 crore.
Financial Indicators of the bank:
| Sr. No. | SELECT INDICATORS | 2016 AUDITED |
| 1 | SHARE CAPITAL | Rs. 58.52 Crore |
| 2 | DEPOSITS | Rs. 2,094.01 Crore |
| 3 | LOANS AND ADVANCES | Rs. 1,476.28 Crore |
| 4 | BUSINESS MIX | Rs. 3,570.29 Crore |
| 5 | INVESTMENTS | Rs. 675.39 Crore |
| 6 | CRAR % | 13.63 % |
| 7 | WORKING CAPITAL | Rs. 2,537.42 Crore |
| 8 | PER BRANCH BUSINESS | Rs. 137.32 Crore |
| 9 | NUMBER OF BRANCHES | 25 BRANCHES + 1 EXTENSION COUNTER |