Shah urges urban cooperative banks to join NUCFDC

Union Home and Cooperation Minister Amit Shah, speaking at the inauguration of the new office of the India — National Skill Development Corporation (NUCFDC) in Mumbai, urged India's urban cooperative banks (UCBs) to embrace technology, ensure transparency, and modernize customer services to remain competitive. He called on all UCBs to join NUCFDC, the apex umbrella organization for the sector, within a year. Shah noted that of nearly 1,400 UCBs, around 690 have already become members. He emphasized that ensuring customer prosperity would help banks grow and that strengthening the cooperative banking ecosystem supports financial inclusion and self-employment. Shah also addressed the perception gap between the RBI and UCBs, urging closer engagement while acknowledging the RBI's role in protecting depositors' money. NUCFDC, approved by the RBI and headquartered in Mumbai, provides capital, IT infrastructure, and liquidity support to strengthen the cooperative banking sector.