Union Minister of Home Affairs and Cooperation Shri Amit Shah will inaugurate the new office of the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC) at Sharda Sadan, Fort, Mumbai, on 8 August 2026. The Minister will also interact with representatives of State Urban Cooperative Bank Federations and district associations of Maharashtra during the event.
At the 'Sahakar Nav-Kranti' programme at the BSE International Convention Centre, where Maharashtra Chief Minister Shri Devendra Fadnavis will also be present, several significant initiatives will be launched. A Memorandum of Understanding will be exchanged between NUCFDC and the National Forensic Sciences University (NFSU) to strengthen cyber security, technological capabilities, and institutional capacity in the Urban Cooperative Banking sector.
The Union Minister will inaugurate a Security Operations Centre (SOC) to strengthen the cyber security of Urban Cooperative Banks and launch a Core Banking Service and allied services under a nationwide service bundle. These initiatives aim to provide Urban Cooperative Banks with modern, secure, and shared digital banking infrastructure. Representatives of the first six Urban Cooperative Banks successfully connected to 'Sahakar CBS' will be felicitated during the programme.
Additionally, the Union Minister will release the book titled 'Operational Risk Management – A Practical Guide to Urban Co-operative Banks', authored by Shri G. P. Mistry, former Deputy General Manager of the Reserve Bank of India. The book provides practical guidance to Urban Cooperative Banks on the identification, assessment, and effective management of operational risks.
NUCFDC, launched on 2 March 2024 as an umbrella organisation for Urban Cooperative Banks, aims to provide these banks with shared technology platforms, core banking services, cyber-security solutions, capacity-building, and operational support. Through these shared services, particularly small and medium Urban Cooperative Banks will be able to reduce the cost of adopting modern banking technology, offer improved services to customers, and compete effectively with private and commercial banks.