The Banaskantha Mercantile Co-Operative Bank Ltd was established on 11th May 1973, registered under Co-Operative Society Act 1961 Registration No. 10906 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 31/03/2022 share capital is Rs. 17.94 crore.