The National Federation of Urban Co-operative Banks and Credit Societies Ltd. (NAFCUB) is entering its Golden Jubilee year with a renewed focus on reforms, stronger governance and greater institutional capacity for India’s urban cooperative banking sector.
Addressing NAFCUB’s 50th Annual General Meeting (AGM) in New Delhi, NAFCUB Chairman Laxmi Das announced that the federation will organise a grand Golden Jubilee programme in Delhi in February 2027, bringing together cooperative leaders, Urban Cooperative Banks (UCBs) and credit cooperative societies. The date of the programme will be announced shortly.
Das said UCBs have an important role to play in GDP growth, financial inclusion and inclusive economic development. Referring to the vision of Union Minister for Home and Cooperation Amit Shah, he stressed the need to strengthen the presence of UCBs in towns with populations of more than two lakh.
He said several successful cooperative banks had started with modest capital but eventually grown into institutions with business worth thousands of crores. “Cooperative banks should also be given an opportunity to grow,” he said.
Das also called for transparent and clearly defined parameters for assessing good governance, emphasising that compliance should be treated as a continuous process. He urged a review of Priority Sector Lending (PSL) norms for UCBs and said NAFCUB had placed 21 major issues concerning UCBs before the SAC Committee recently.
He further highlighted technology as a key priority and appealed to NUCFDC to develop an affordable and accessible technology ecosystem, including a common Core Banking Solution (CBS), to reduce the sector’s dependence on external technology providers.
Das also called for streamlining regulatory issues involving the RCS and RBI, promoting “Local for Vocal” solutions and reviewing requirements such as minimum quorum that may create operational difficulties for cooperative banks.
Meanwhile, NAFCUB Chairman Emeritus H.K. Patil reflected on the federation’s five-decade journey, recalling how NAFCUB evolved from a rented office into an important institutional platform for the cooperative banking sector.
Patil highlighted the contribution of several cooperative leaders and public figures who supported NAFCUB during its formative years. He also described the establishment of the SAC Committee as a major milestone, providing a platform for the government, RBI, NAFCUB, state federations and other stakeholders to discuss ground-level challenges.
Pointing to the growth of institutions such as Saraswat Bank, Cosmos Bank and Rajkot Nagarik Sahakari Bank, Patil said NAFCUB’s journey reflects the strength of the cooperative model and its deep community connect.
He said the Golden Jubilee year should not merely be a celebration of the past but an opportunity to build a stronger and more capable future for India’s urban cooperative banking movement.
The AGM was attended by NUCFDC Chairman Jyotindra Mehta, Uday Joshi, Ajay Barmecha, Chalasani Raghavendra Rao, Sunil Deora, Mohan Parashar, O.P. Sharma, N.S. Jayakumar and delegates from different parts of the country.
NAFCUB Vice Chairman Milind Kale proposed the vote of thanks.
