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The G P Parsik Sahakari Bank was founded on May 21, 1972, in the village of Kalwa, located in the Thane District of Maharashtra, as an Urban Co-operative Bank. The initiative was taken by the visionary leader Shri Gopinath Shivram Patil, M.Com., LL.B., along with a group of young associates. The bank’s primary objective was to provide financial assistance and generate employment for locals, particularly those affected by the government’s acquisition of agricultural land in the Thane-Belapur belt for the development of "New Bombay". The name "Parsik" references the bank's original active jurisdiction on the west side of the Parsik Hill range.

As a Co-operative Bank, its ownership structure is member-based, distinguishing it from traditional public or private sector institutions. The institution achieved a significant milestone by being granted "Scheduled Status" on January 30, 1998, which was followed by an extension of its operational area across the entire state of Maharashtra. Further expanding its footprint, the bank became a Multi-State Scheduled Co-operative Bank in March 2015, with operations now extending into the states of Goa and Karnataka. It holds a notable position in the co-operative banking sector, being consistently profit-making and maintaining an 'A' Audit classification, and by 2020, it had achieved a business mix surpassing ₹6,000 crores across its network of over 90 branches.