The National Federation of Urban Co-operative Banks and Credit Societies Ltd. (NAFCUB) has launched its Data Centre Portal to create a comprehensive and updated database of Urban Cooperative Banks (UCBs) across India.
The portal was launched during NAFCUB’s 50th Annual General Meeting (AGM) held in New Delhi on Monday.
The federation has appealed to all UCBs, including both members and non-member institutions, to submit and regularly update their information on the portal. NAFCUB said the UCB sector has long faced gaps in reliable and consolidated data, and the new portal is aimed at addressing this gap.
A comprehensive database will help present a more accurate picture of the sector’s size, financial strength and requirements, enabling better representation before policymakers and regulators.
Meanwhile, Satyadev Solanki, a delegate from Delhi, suggested that a similar data platform should also be developed for credit cooperative societies. He said reliable sector-wide data on these societies would help identify their challenges and requirements and support better policy and institutional assistance.
