[3] It was founded in 1969, in accordance with the 1961 rule of the National Dairy Development Board under Operation Flood.

[10] In March 2021, Banaskantha District Co-operative Milk Producers Union Limited (BDCMPUL), popularly known as Banas Dairy, has inaugurated a buttermilk packaging plant set up with an investment of ₹10.30 crore.

[11] In September 2020, considering the growing demand for potato-based products across the world, Banas Dairy is planning to establish a Rs 100-crore potato processing unit in North Gujarat.

[8][6] The civil work for the project has already begun and the machinery for the plant is planned to be imported from Netherlands and the production is targeted to begin by October 2021.

[6] Currently, Banas Dairy is one of the 18 cooperative unions operating under the Gujarat Cooperative Milk Marketing Federation (GCMMF) and procures around 7,000 metric tonnes of potatoes from 500 odd farmers and manufacturers potato-based products at a hired unit in North Gujarat.