The period of 1970-71 was favourable for opening Urban Co-operative Banks.This was a very conducive ground for these veterans to bring their dream of establishing the bank to reality.
After various discussions among various social activists from Hadapsar (such as Hon. (Late) Shri. D.A. alias Mama Hajare, Hon. (Late) Shri. Devramji Abnave, Hon. Shri. Madhukarraoji Temgire etc.) and the then Prant Pracharak Hon.(Late) Shri. Babarao Bhide, it was decided to establish the Bank in co-operative sector.
After rigorous compliance,Reserve Bank of India, granted permission to open the Bank. The name 'Janaseva' was arrived at after considering various names such as Hadapsar Janata Bank, Janalaxmi Bank, Bhagyalaxmi Bank, etc. The Bank was formally established with the name 'Janaseva Sahakari Bank Ltd. Pune' on auspicious day of Dussera on 24th October 1972 (with initial paid up capital of Rs. 56,000/-) and later inaugurated on 7th November 1972 by the auspicious hands of the then Mayor of Pune City Shri. Nilubhau Limaye. The bank started working from, Gandhi Chowk, Hadapsar in a very small premises owned by Shri. Laxminarayan Mundada with office area of only 160 feet.
Bank was inaugurated on 07.11.1972 at the hands of Nilubhau Limaye, the then Mayor of Pune City.
Market Yard and Netaji Nagar Branches were opened in the year 1982.Deposits crossed a landmark figure of Rs. 1 Crore in the year 1982.
Saswad Branch was opened in the year 1992.Reserves crossed Rs. 1 Crore in the year 1992.The Bank was awarded as the Best Bank by Pune District Urban Bank's Association in the year 1992.
Manikbaug Branch was opened in the year 1997.Deposits crossed Rs. 100 Crore in the year 1997.Profit crossed Rs. 1 Crore in the year 1997.Silver Jubilee of the Bank was celebrated in the year 1997.
Paid up capital crossed Rs. 5 Crore in the year 2002. Shivaji Nagar-Deccan branch was opened in the year 2002.In 2002 the number of branches were 18.
Koregaon People's Co-operative Bank was merged with our Bank on 01.01.2008.Deposits crossed Rs. 500 Crore in the year 2008.The Bank entered into an agreement with JJIT for CBS in the year 2008.Ours is only urban co-operative bank to get such merger order.
Two Branches viz. Aundh & Thane were opened in the year 2009.In the year 2009, on site ATMs were installed at Manikbaug, Thane, Ramwadi & Netaji Nagar Branches.Total Business crossed Rs. 1000 Crore in the year 2009.Kothrud Branch was shifted to Bank's own premises in the year 2009.The Bank received permission for opening ATMs in the year 2009.The Bank introduced RTGS and NEFT schemes at all its branches in the year 2009.
Two Branches viz. Kondhawa & Shirwal were opened in the year 2011.In the year 2011, on site ATMs were installed at Kothrud, Shirwal, Bhosari & Shikrapur Branches.Advances crossed Rs. 500 Crore in the year 2011.Total Business crossed Rs. 1500 Crore in the year 2011. Profit crossed Rs. 10 Crore in the year 2011.The bank achieved zero net NPA percentage for the first time in the year 2011.The Bank also acquired corporate agency for bank assurance through Associate Max Life.The mutual fund activity in collaboration with Reliance mutual fund also started.
In the year 2012, on site ATMs were installed at Satara, Mundhawa, Aundh & Chakan Branches.Paid up capital crossed Rs. 25 Crore in the year 2012.Reserves crossed Rs. 100 Crore in the year 2012.The Bank procured spacious plot for Bank's Head Office in the year 2012.The Bank became a member of BANCS and NPCI in the year 2012.The Bank received permission to open current account with RBI in the year 2012.The bank received IFSC code in the year 2012.
Two Branches viz. Chakan and Nashik were opened in the year 2013.In the year 2013 on site ATM was installed at Nashik Branch. Investments Crossed Rs. 500 Crore in the year 2013.Total Business cross Rs. 2000 Crore in the year 2013.Profit crossed Rs. 20 Crore in the year 2013.
Total Business crossed in Rs. 2500 Crore in the year 2015.
Bank is always involved in social activities. The bank has created Member Welfare Fund. Additional amount is transferred to this fund every year. Bank provides financial aid to its members and their relatives in the event of accident or for treatment for chronic diseases.
The Bank has taken up the responsibility of meeting educational expenses of certain students at Gopal Navjeevan Kendra (hostel for orphan students), hostel for students from Purvanchal, Prakash Jyot Vidyalaya, Karna Badhir Vidyalaya. Bank has also extended financial aid to Senapati Hambirrao Mohite Goshala at Wadki.
The Bank has adopted Ekhatpur village near Saswad for its overall development. The bank solved the problem of drinking water faced by the villagers, necessary arrangements were made for seepage of water in the soil. Every year sweets are distributed to the varkaris during the pious reception of Holy Palkhis of Saint Shri. Dnyaneshwar Maharaj and Shri. Tukaram Maharaj. Bank organizes free medical check up camps for its shareholders, especially for those who are senior citizens.Bank also participates Ganesha Festival and Ambedkar Jayanti activities.