The National Urban Co-operative Finance & Development Corporation Ltd. (NUCFDC), the umbrella organization for urban cooperative banks (UCBs), has intensified its outreach in Maharashtra by holding a series of one-to-one and small group meetings with leading UCBs across the state over the past month.
NUCFDC is on the verge of achieving its target of Rs 300 crore by the September 15 deadline, Chairman Jyotindra Mehta informed. “We have already mobilized Rs 278 crore, and the remaining Rs 22 crore is in the pipeline,” he stated.Meanwhile, NUCFDC has launched focused interactions with Chairpersons, Vice Chairpersons, Board Members, and CEOs of participating banks. The approach allowed NUCFDC to tailor its discussions to the specific priorities of each institution and build customized strategies for future growth.
The deliberations revolved around enhancing the cooperative banking framework through digital transformation and governance strengthening, along with exploring both fund-based and non-fund-based opportunities for sustainable growth.
NUCFDC officials underlined the importance of adopting technology-led solutions in areas such as risk management, regulatory compliance, and customer service, while also emphasizing the role of improved governance practices in ensuring long-term resilience.
The engagement drive saw active participation from institutions spanning multiple tiers of the cooperative banking ecosystem. Among the Tier-3 banks that engaged with NUCFDC were Nashik Merchant’s Co-operative Bank Ltd. in Nashik, Ahmednagar Merchants’ Co-operative Bank Ltd. and Ahmednagar Zilla Prathamik Shikshak Sahakari Bank Ltd. in Ahmednagar, Shikshak Sahakari Bank Ltd. in Nagpur, Chikhli Urban Co-operative Bank Ltd. in Buldhana, and Rajarambapu Sahakari Bank Ltd. in Sangli.
Mumbai, the state’s financial hub, was represented by Tier-3 Greater Bombay Co-operative Bank Ltd. and Model Co-operative Bank Ltd., as well as Tier-2 institutions such as Kokan Mercantile Co-op. Bank Ltd., KNS Bank Ltd., Deccan Merchants Co-op. Bank Ltd., and Mogaveera Co-op. Bank Ltd.
From Pune, an important cluster of cooperative finance, Tier-2 banks like Mahesh Sahakari Bank Ltd., Pavana Sahakari Bank Ltd., Sadhana Sahakari Bank Ltd., and Sant Sopankaka Sahakari Bank Maryadit were part of the discussions, along with Tier-3 Bharati Sahakari Bank Ltd., Baramati Co-op. Bank Ltd., and Rajgurunagar Sahakari Bank Ltd.
Other significant participants included Tier-2 Pravara Sahakari Bank Ltd. in Ahmednagar, Vaidyanath Urban
At the Tier-1 level, Shirpur Merchants Co-op. Bank Ltd. and Dhule Vikas Sahakari Bank Ltd. participated, representing the growing base of smaller UCBs eager to leverage NUCFDC’s guidance.
The one-to-one engagement model has been widely welcomed as a refreshing shift from conventional large conferences. By creating space for deeper dialogue, banks were able to voice their unique challenges and explore solutions tailored to their operational realities.
According to a senior NUCFDC official, the response from Maharashtra’s UCBs has been overwhelmingly positive, with the meetings laying the foundation for long-term partnerships aimed at strengthening financial stability, scaling digital adoption, and identifying new growth avenues for urban cooperative banks.
With Maharashtra accounting for a significant share of India’s cooperative banking sector, NUCFDC’s initiative is expected to have a demonstrable impact on the sector’s modernization. As more banks come forward to align with NUCFDC’s services, the state’s cooperative banking ecosystem may well emerge as a model for other regions.