About NUCFDC | Supporting Urban Cooperative Banks in India

Building a Resilient Future
for UCBs

The foundation of NUCFDC stems from recommendations of multiple Committees/ Working Groups on UCBs constituted by Reserve Bank of India (RBI), including those of Viswanathan Committee (2006), V S Das Committee (2009), Malegam Committee (2010) and R Gandhi Committee (2014).

These Committees studied and took inspiration from successful global umbrella organizations like Rabobank (Netherlands), Credit Agricole (France), Raiffeisen Banking Group (Austria), Central Co-operative Bank (Bulgaria), Co-operative Financial Network (Germany), European Association of Co-operative Banks (European Union), Credit Union Service Organizations (USA), Desjardins (Canada), and JA Bank Group (Japan); and recommended a similar umbrella to address the infirmities in India's UCB sector comprising over 1700 UCBs of different sizes.

Key Recommendations for Upgrading the UCB Sector

Advancement of UCB Sector

Emphasis on capacity building through fund-based and non-fund-based services.

Scaling up Digital Banking

Focus on implementing state-of-the-art IT platforms and plug-and-play services at affordable costs.

Synergy & Scale Connectivity

Proposal to connect India’s 1,470 UCBs and 11,000 branches to enhance synergy, economies of scale, and competitiveness.

Fostering Financial Stability and Public Confidence

Aimed at improving the stability of the sector and boosting public trust

NUCFDC will be in compliance with the necessary regulatory requirements for SRO

Establishment of an SRO to provide necessary regulatory comfort.

Digital Banking

We focus on advancing Digital Banking, Cybersecurity, Safety and Infrastructure, Capacity Building and Training, Enhanced Compliance and Government Position, Transparency and Cost Efficiency Benefits through Collective Negotiation, Procurement Optimization and Resource Sharing.

Approval and Momentum

RBI approved the umbrella project in June 2019, with support from the Ministry of Cooperation, Government of India, and RBI.

Milestones in our
Journey

2006 - Vishwanathan Committee

Initial discussions and recommendations.
2009 - V S Das Committee

Key committee formed for further development.
2010 - Malegam Committee

Committee formed to address cooperative banking issues.
2014 - R Gandhi Committee

Continued efforts to improve the sector and address challenges.
2016-18 - NAFCUB Resolution

Resolution by National Federation of Urban Cooperative Banks and Credit Societies.
2019-23 - RBI Approval & Capital Raised

Official approval from the Reserve Bank of India and capital raised for operations.
2024 - NUCFDC License Issued

Official licensing and commencement of NUCFDC operations.

Transforming Urban Cooperative
Banks for Sustainable Growth

Mission

To strengthen India’s UCB sector through robust support, strong governance, and enhanced IT and digital capabilities, to face competition and contribute to the nation’s economic and social growth.

Vision

To build a strong foundation that drives the healthy growth of UCB sector, leveraging digital and emerging technologies to offer the full suite of banking related systems and services, thereby positioning UCBs in a competitive digital financial landscape.

Aligning with India’s Vision for Cooperative Growth

NUCFDC plays a key role in India’s mission to strengthen cooperative banks, aligning with the government’s vision of financial inclusivity and “Sahakar Se Samriddhi.” Supported by government initiatives, we empower UCBs to reach new heights, contributing to economic growth and financial security.

Strengthened UCB Governance

Empowering UCB boards with enhanced decision-making capabilities.
Service Expansion

Permitting UCBs to offer doorstep banking, fulfilling community needs.
Priority Sector Lending

Extended timelines for UCBs to meet PSL targets, reinforcing their social responsibility.

Comprehensive Support for Every Need

NUCFDC tailors its support to meet the evolving needs of Urban Cooperative Banks. Our services address liquidity, compliance, and modernization challenges, ensuring UCBs can operate confidently and effectively.