Janakalyan Sahakari Bank Ltd. was established on 29th May 1974, under the Maharashtra State Co-operative Societies Act, 1960 and commenced operation on 15th August, 1974 upon receipt of license from the Reserve Bank of lndia.he Bank has a shareholders base of over 55,000, depositors of over 3,60,000 and borrowers of over 12,500 which clearly demonstrates the reach of the Bank and the trust of the general public.