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The Guardian Souharda Sahakari Bank Niyamita (GSSBN) was formally established on July 31, 1998, under the Karnataka Souharda Sahakari Act (KSSA) of 1997, a legal framework for co-operative societies in the state. The bank was founded by Mr. Collin R. Timms, with its doors opening for business on November 2, 1998, in Bangalore, India. Its initial launch was supported by the successful mobilization of seed capital and investments from over 2,700 individuals who bought into the institution's vision. The founding principles of the institution were rooted in the co-operative movement's ethos of "Self-Help and mutual help".

As a Souharda Co-operative Bank (SCB), GSSBN currently operates as a co-operative financial institution, sometimes classified as a Scheduled Urban Cooperative Bank, serving urban and semi-urban areas primarily within Karnataka. Its strategic significance in the Indian financial system lies in its mission to cater specifically to the financial needs of the middle class, lower-middle class, and weaker sections of society. The bank has been an active participant in community development, recognized for its role in promoting thrift, offering innovative credit schemes—such as those for higher education—and assisting in self-employment initiatives, particularly among women. Its contributions to the sector were recognized when it received the “Best Co-operative Bank” award in 2013 from the Karnataka State Federal Co-operative Limited.