The beginning of this ' Bank ' has been quite humble. A well known personality from Kurundwad, Shri. Amrutlal Shah, established this institute in its humble form as a Credit Society named Parshwanath Nagari Sahakari Pat Sanstha, to carryout a sense of Social obligation, on August 24, 1983. On its inception the society had 500 members with a share capital of Rs. 0.05 million. The credit society proved quite successful and had members with a share capital of Rs.5.2 million, by early 1998 .

The society had very commendable achievements in that its total deposits had soared to Rs.340 million with a share capital of Rs.5.9 million. In fact the society had functioned so well and admirably that it always received class "A " Audit Certificate. The society's unalloyed success has found its reflection in the dividend rates of 20% paid to the members since from 1987 to 1997.

The Reserve Bank of India granted the permission to Parshwanath Co-operative Credit Society to convert itself into Parshwanath Co-operative Bank Ltd. from 2nd February 1998. The total deposits of the bank as on today are Rs.1085 million, Loans of Rs.743 million, Share capital of Rs.32 million and Reserve Fund of Rs. 65 million. The membership of the bank has also crept up, albeit slowly, to reach the 3241 mark.