Dharmaj was considered the Paris of Charotar area in Gujarat. The prime business of this town is agriculture. Tobacco is the main product of this town. The idea of establishing a bank was initiated in the minds of few revolutionary minds of Dharmaj because of the reason that the people of Dharmaj had to wait for a minimum time period of 6 to 8 months to receive payments from traders for the sale of tobacco. To help them from the plight, thoughts went like storm across the people of Dharmaj to get a local bank for themeselves where they can get the payment proessed easily. Moreover, there was only 1 bank – DENA BANK, at that time in Dharmaj. Hence it was difficult fo the local farmers to get loans and services from this bank. To make them self reliant, and to have a local bank of the town, the bank was established during May-June 1968. The initial share price of INR 100 was kept to establish the bank. This amount proved to be costly for the members.

The difficult task of accquiring shares for bank was taken up by Mahendrabhai Maganbhai Patel , who went to each and every person in the village and collected a total sum on Rs. 1 lakh providing easy installments to the people to purchase shares. The initial bank promoters worked hard to bring the bank to a stable state. Hence the bank came into exitence after registration on 14-10-1968 with the registration number of S-10116.

The first chairman elected for the bank was Dr. H.M.Patel. Bank obtained banking licences on 16-01-1969 and was re-established in the building of Shri Rameshbhai Kashibhai Patel and inaugrated by the hands of Shri Fatesinh Gaekwad. At that time, many people opted for opening bank acounts and that particular year, bank made a clear profit of Rs. 378.

The bank staff and members all worked hard to make the bank functions smooth and fine. In 1975, bank decided to build its own buiding and purchased 2 plots near Nehru Chowk in Dharmaj. The building got ready in 1976 and was inaugrated by Hon. Dr. D.S.Patel. The same year our ex-chairman Dr. H.M.Patel was elected as the Finance Minister of India which is a proud achievement for us. In 1979, bank completed 10 years and to celebrate this occasion, souvenir were printed to depict the bank progress and GLASS-SET was gifted to each bank members. Soon, bank operations needed expansion and a second floor was contructed for the same in 1984.

Bank's silver jubilee was to be celebrated in year 1993-1994 but during that time, the founder chairman of the bank, Shri H.M.Patel collapsed and the celebration was postponed due to this saddened moment. Remebering his efforts, as a token of love from the bank, 30gm Silver coins were distributed to the members.

To make the bank operation more effortless, the bank purchased land(in 1997) near the Main Tower of Dharmaj and established the latest bank building in 1998. In the year 2000, the bank declared a financial aid of Rs. 10000 to the family of a deceased member and encouragement prizes to the top three SSC/HSC students of Dharmaj. With the advancement in NPA for the bank, the deceased family aid was reduced to Rs. 5000.

The bank completely transformed into CBS and accepted English as the primary source of operational language in 2014. The bank has always been keen to help the members and people of Dharmaj in any ways possible. We take pride in sharing our services and progress reports with you dear visitor.