Rajasthan’s Secretary, Cooperative Department and Registrar of Cooperative Societies, Dr Samit Sharma, has urged Urban Cooperative Banks (UCBs) to accelerate digital transformation by investing in technology, cyber security and continuous staff training to remain competitive in the evolving banking landscape.
Addressing a workshop on “Present and Future Challenges Before Urban Cooperative Banks and the Way Forward” in Jaipur, Dr Sharma said the growing use of digital banking has also increased the threat of cybercrime, making it imperative for UCBs to adopt the latest technology while strengthening cyber security measures.
He emphasised that banks should build robust risk management systems capable of identifying potential threats at an early stage, thereby enhancing customer confidence in the cooperative banking system.
Dr Sharma also called upon all UCBs to become members of the National Urban Cooperative Finance and Development Corporation (NUCFDC) and get onboard the Indian Cyber Crime Coordination Centre (I4C) platform for prompt action against cyber fraud.
The workshop, organised in Jaipur, was attended by CEOs of 27 Urban Cooperative Banks, who deliberated on the future roadmap for the sector and shared their experiences. Rajasthan Co-op Secretary urges UCBs to invest in Digital Transformation.
