The National Urban Cooperative Finance and Development Corporation (NUCFDC) is playing a key role in digitally empowering India’s urban cooperative banking sector, according to the Ministry of Cooperation. The umbrella organization, established with the approval of the Reserve Bank of India (RBI), is providing IT infrastructure and operational support to nearly 1,500 urban cooperative banks.
The Ministry highlighted NUCFDC’s digital initiatives, including Digi Loan and Digi Pay, which are aimed at strengthening technology-driven banking services for cooperative institutions. These platforms are helping urban cooperative banks modernize their operations, improve service delivery and strengthen their digital capabilities.
The initiative forms part of the government’s broader efforts to promote technology adoption in the cooperative sector and build a stronger digital foundation for urban cooperative banks, enabling them to offer modern banking services to their customers.
