The Banaskantha Mercantile Co-Operative Bank Ltd. was established on 11th May 1973, registered under Co-Operative Society Act 1961 Registration No. SE/10906/1973 and RBI License No. ACD/GJ 267 P. The Bank started with one branch at Palanpur with a Share Capital of Rs. 10.00 lacs, made continuous Progress and as of 31/03/2024 share capital is Rs. 25.15 crore.

At present The Bank is providing better customer service through its 7 Branches at various centers in Banaskantha, Gujarat.