In a major development for Urban Cooperative Banks (UCBs), NUCFDC has reduced the membership fee for Tier-1 UCBs from 0.01% of their total deposits to a flat Rs 1 lakh. The move was announced during the 50th Annual General Meeting of NAFCUB held in New Delhi.
As of September 2026, NUCFDC has raised Rs 321.79 crore in paid-up share capital, with 620 UCBs having become members out of 1,433 UCBs.
Tier-wise, 250 of the 805 Tier-1 UCBs have been onboarded, while 296 of 537 Tier-2 UCBs are using its services. In Tier-3, 69 of 84 UCBs have been onboarded, while all seven Tier-4 UCBs are on the platform.
Commenting on the development after the AGM, NUCFDC President Jyotindra Mehta said the fee had been reduced to facilitate the onboarding of smaller banks, which remain a key focus of NUCFDC.
“Yes, we have cut the fee for onboarding small banks, which are the main focus of NUCFDC. We want to provide them with technology and all the necessary solutions,” Mehta said.
NAFCUB CTO Padmabhushan Bahadure briefed members on NUCFDC’s activities and services. He said around 1,180 banks have already benefited from its training programmes.
NUCFDC is also developing an AI-based platform to help cooperative banks understand RBI circulars and regulatory requirements in simpler language. Another key initiative is Sahakar CBS, with 10 banks already onboarded. Bahadure said NUCFDC has also significantly reduced the pricing of the CBS platform.
