Umbrella Body for Urban Co-op Banks

04 Apr 2025 CW Team

The Ministry of Cooperation has launched the National Urban Co-operative Finance and Development Corporation (NUCFDC) to strengthen Urban Cooperative Banks (UCBs) by improving financial resilience, governance, and competitiveness.

Fund-Based Services: Capital support, loans, refinance facilities, liquidity support through Repo, and deposit acceptance from UCBs.

Non-Fund-Based Services: IT infrastructure setup, treasury management, consultancy, compliance automation, capacity building, and R&D.

Key Initiatives: - Legal Advisory: Free basic templates and legal vetting for banks. - Sahakar Compliance Monitoring: Automating regulatory compliance via Core Banking System (CBS) and RBI’s Daksh portal. - Technology Consulting: CBS, cybersecurity, IT compliance, and advisory. - Upcoming Projects: - Sahakar Cloud: Cost-effective cloud services for UCBs. - Sahakar CBS: Industry-standard CBS for small banks. - SahakarBox: Affordable cybersecurity and disaster recovery solutions. - Sahakar Council: Expert panel for tax, audit, and compliance support.

This initiative aims to unify and empower the UCB sector, ensuring better financial health, digital transformation, and stronger market positioning.

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