NCCE organized a three-day Leadership Development Program for Directors on Cyber Security & Digital Banking For UCB’s & Credit Societies at its headquarters in Delhi. The apex body of UCBs-NAFCUB was its partner in this training.
Thirty-four participants from eight stares attended the training program. They came from various states such as Maharashtra, Kerala, Gujarat, Telangana, West Bengal, Delhi and Andhra Pradesh.
The main theme was to spread awareness about Cyber security and Digital Banking. Cyber security is the measure taken to protect electronic information. The objective of the event was to acquaint officials with possible measures needed to protect electronic information.
Inaugurating the program, N. Satya Narayana, Chief Executive, NCUI gave his inputs on Urban Cooperative Banks & Credit Societies.
Co-op banks are jointly run by its members, who share in the risks and profits from the bank’s activities. Banking activities involve technical and financial assistance to members including collateral custody and offering discounting notes and other obligations.
Credit unions follow a basic business model: Members pool their money—technically, they are buying shares in the cooperative—in order to be able to provide loans, demand deposit accounts, and other financial products and services to each other. Any income generated is used to fund projects and services that will benefit the community and interests of its members.
As per suggestions of officers and participants, different subjects were discussed like Digital Banking, Cashless Transactions, Auditing in Cooperatives, Cyber security and Implications of GST, Recovery & challenges on Urban Cooperatives banks.
All participants were awarded a certificate of participation after completion of the program. The participants appreciated the program and were satisfied with all the arrangements and the knowledge they gained through this leadership development program.
The program was coordinated by Priyank Singh, Assistant Director, NCCE.