Addressing the 49th Annual General Meeting of NAFCUB, Chairman Emeritus Dr. H.K. Patil emphasized the need for unity, modernization, and professionalism in the urban cooperative banking sector. He hailed 2025 as a significant year for cooperatives, with the United Nations declaring it the International Year of Cooperatives (IYC) under the theme “Cooperatives build a better world.”
Dr. Patil announced that NAFCUB will host an International Conference of Urban Cooperative Credit Sector-“Coop Kumbh 2025” on November 8–9 in New Delhi, highlighting the role of credit cooperatives in poverty reduction, employment generation, and social integration. He appealed to all member institutions to participate in large numbers and make the event a historic milestone.
Reflecting on policy reforms, he welcomed the recently announced National Cooperative Policy 2025, calling it a landmark in strengthening the identity of the cooperative movement. The policy, he said, will enable cooperative banks to handle government business, enhance their operational strength, and integrate better with the mainstream banking ecosystem.
He also noted the establishment of the upcoming Cooperative University, which would professionalize the sector and attract youth and women by offering skilling and employment opportunities.
Dr. Patil acknowledged the RBI’s recent positive measures, including the restoration of scheduled status for urban cooperative banks, and urged for further relaxations to strengthen financial inclusion and growth.
“We have witnessed unprecedented changes in the cooperative sector over the last four years — from a new cooperative policy to the establishment of a cooperative university, along with positive amendments in the MSCS Act and several other developments,” said Patil.
He also highlighted the RBI’s changed approach towards urban cooperative banks, noting that the regulator now views them as partners in India’s growth story and engages with empathy. Patil emphasized that UCBs must enhance governance standards, embrace modern technology, and expand their footprint to continue being the “preferred neighborhood banks” for the common people.
Reiterating the importance of the umbrella organization, he praised the efforts of NUCFDC, which has already mobilized Rs 275 crore of the required Rs 300 crore target.
He urged banks that have not yet subscribed to NUCFDC equity to do so before the September 15 deadline, noting that the institution will also function as a Self-Regulatory Organization (SRO) once fully operational.
In conclusion, Dr. Patil underlined the need for youth participation, branch expansion, and technology upgradation to help UCBs meet the credit needs of MSMEs, priority sectors, and aspirational sections of society.
He also commended NAFCUB President Laxmi Dass for his leadership in securing crucial regulatory relaxations from RBI, strengthening the confidence and prospects of the sector.
