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.

Building Material

11 Dec 2025

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