Amit Shah to Launch NUCFDC Office, Banking Services in Mumbai
Security Operations Centre and nationwide Core Banking Service for Urban Cooperative Banks to be unveiled at ‘Sahakar Nav-Kranti’ programme.
- Amit Shah to inaugurate NUCFDC’s new Mumbai office on August 8.
- Security Operations Centre to strengthen cyber security of Urban Cooperative Banks.
- Nationwide ‘Sahakar CBS’ and allied digital banking services to be launched.
- NUCFDC and National Forensic Sciences University to exchange an MoU.
GG News Bureau
Mumbai, 7th Aug: Union Home and Cooperation Minister Amit Shah will inaugurate the new office of the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC) in Mumbai on August 8, as part of efforts to modernise and strengthen India’s Urban Cooperative Banking sector.
The new NUCFDC office will be inaugurated at Sharda Sadan, Fort, where Shah will also interact with representatives of State Urban Cooperative Bank Federations and district associations of Maharashtra.
Later, Shah will attend the ‘Sahakar Nav-Kranti’ programme at the BSE International Convention Centre as the chief guest. Maharashtra Chief Minister Devendra Fadnavis will also attend the event.
Cyber Security, Core Banking Services to be Launched
During the programme, Shah will inaugurate a Security Operations Centre (SOC) aimed at strengthening cyber security across Urban Cooperative Banks.
A nationwide Core Banking Service (CBS) and allied services under a common service bundle will also be launched. The initiative is intended 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.
An MoU between NUCFDC and the National Forensic Sciences University (NFSU) will also be exchanged. The partnership is expected to strengthen cyber security, technological capabilities and institutional capacity in the cooperative banking sector.
Shah will also release Operational Risk Management – A Practical Guide to Urban Co-operative Banks, authored by former Reserve Bank of India Deputy General Manager G. P. Mistry.
NUCFDC was launched on March 2, 2024, as an umbrella organisation for Urban Cooperative Banks. It provides shared technology platforms, core banking services, cyber-security solutions, capacity-building and operational support, particularly aimed at helping small and medium cooperative banks adopt modern banking technology at lower costs.
The initiatives are part of the government’s push to make the Urban Cooperative Banking sector more modern, secure and competitive under Prime Minister Narendra Modi’s ‘Sahkar Se Samriddhi’ vision.
