National Urban Co-operative Finance and Development Corporation Limited

On 2nd March, 2024, the Ministry of Cooperation launched National Urban Co-operative Finance and Development Corporation Limited (NUCFDC), an umbrella organisation for the Urban Cooperative Banks.

Need

  • At present, there are over 1,500 scheduled and non-scheduled Urban Cooperative Banks in India with a total number of branches exceeding 11,000. The banks have a deposit size of over Rs 5.33 lakh crore, and total lending of more than Rs 3.33 lakh crore. Many of these banks have constraints related to technology platforms, and difficulties in offering modern banking services.

About NUCFDC

Aim

  • It aims to modernize and strengthen the Urban ....
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