NABARD’s shared services entity (SSE) named Sahakar Sarathi Private Limited (SSPL) is expected to generate annual cost savings of more than Rs 1,500 crore from Year 5 onwards, provided all rural cooperative banks (RCBs) adopt and utilise the services.
This is seen as a game-changer for the cooperative banking ecosystem, reducing operational expenses while accelerating technology adoption.
NABARD, in collaboration with the Ministry of Cooperation, Government of India, is spearheading the establishment of a shared services entity (SSE), Sahakar Sarathi Private Limited (SSPL), to provide centralised technological, operational, and support services for rural cooperative banks (RCBs). The Reserve Bank of India has already granted regulatory approval for the initiative.
SSPL will focus on three key domains, technology, operations, and support functions, to deliver economies of scale, strengthen digital capabilities, and enhance service quality. NABARD, the National Cooperative Development Corporation, and RCBs will jointly contribute to the entity’s authorised capital of Rs 1,000 crore.
To fine-tune its implementation roadmap, NABARD has already held strategic workshops with IT and business leads of RCBs, followed by a national-level consultation with chairpersons and CEOs of state cooperative banks.
By centralising digital infrastructure and streamlining processes, SSPL aims to transform RCBs into more competitive, efficient, and future-ready institutions, in line with the Government of India’s vision of strengthening the cooperative banking sector.
