Umbrella Body for Urban Co-op Banks
ECONOMY & POLICY

Umbrella Body for Urban Co-op Banks

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.

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.

Next Story
Real Estate

AI: The New Recruit

From getting ideas to evaluating designs, presenting concepts to clients and tracking projects, artificial intelligence (AI) is helping architects work better and faster.“AI allows architects to spend more time doing what only they can do: think critically, synthesise complexity and design with intent,” says Dikshu C Kukreja, Managing Principal, CP Kukreja Architects. “Every minute reclaimed from repetitive processes can be invested in creativity, contextual understanding, interdisciplinary collaboration and innovation – the qualities that define meaningful architecture.”To read the ..

Next Story
Real Estate

Redevelopment 2.0

In 2017, Mumbai identified 160,000 ageing buildings due for structural audit. Close to half of these were in the Western Suburbs. Redeveloping the oldest and structurally weakest of these would help unlock new housing, much needed given the city’s growing population density and constant developed area of 437.7 sq km. At 30,600 people per sq km in 2024, Mumbai’s density was almost thrice that of Gurugram, and 60 per cent higher than Bengaluru’s.Essentially, Mumbai’s realty market has demand. It has capital. It has realty development potential.Fast forward to 2026. Mumbai has 1,094 regis..

Next Story
Technology

Cost intelligence will become a strategic contributor to project success

As India's construction industry accelerates its digital transformation, integrated platforms, AI and connected data are becoming essential to improving cost certainty, project efficiency and sustainability. Ravi Kumar, Sales Director – India, RIB Software India, shares how digital workflows are reshaping project planning, commercial management and decision-making across the construction value chain.India's construction sector is embracing digital technologies at an unprecedented pace. From your perspective, what are the biggest shifts driving this transformation and how is RIB Software enab..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement