Mumbai: The National Urban Cooperative Finance and Development Corporation Ltd. (NUCFDC), the umbrella organisation for India’s Urban Cooperative Banks (UCBs), has signed a Memorandum of Understanding (MoU) with CSC e-Governance Services India Ltd. (CSC SPV) to accelerate the digital transformation of the cooperative banking sector.
The collaboration between NUCFDC and CSC SPV will provide UCBs with secure, compliant, and scalable digital infrastructure.
The phased rollout will begin with key services such as Aadhaar-based eKYC, eSign, digital signature certificates, DigiLocker integration, e-stamp services, cloud hosting, data centre management, and cybersecurity solutions.
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In subsequent phases, the initiative will extend to internet and mobile banking, kiosk-based banking services, and digital communication platforms, strengthening financial inclusion and enhancing customer convenience.
NUCFDC Role in Digital Adoption for UCBs
As part of the agreement, NUCFDC will facilitate digital adoption across its member UCBs, while CSC SPV will provide technology platforms, APIs, and operational support. A joint governance team will oversee implementation, capacity building, and training.
The MoU also includes provisions for compliance support, grievance redressal, and robust data protection measures, with a focus on aligning with regulatory frameworks to reinforce transparency and institutional resilience in the UCB sector.
Prabhat Chaturvedi, CEO of NUCFDC, said: “The Urban Cooperative Banking sector needs to leapfrog into the digital era while retaining its grassroots character. This partnership equips UCBs with future-ready digital infrastructure, enabling them to serve millions with greater efficiency, transparency, and compliance.”
Bhagwan Patil, Group President, CSC SPV, added: “CSC SPV’s digital backbone, combined with NUCFDC’s institutional mandate, creates a transformative platform for Urban Cooperative Banks. Together, we will deliver scalable solutions to ensure last-mile citizens experience convenient, modern banking services.”
The National Urban Cooperative Finance and Development Corporation Ltd. (NUCFDC) serves as the umbrella organisation for India’s UCB sector.
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Established with the support of the Ministry of Cooperation and in consultation with the Reserve Bank of India, NUCFDC is tasked with exploring capital mobilisation, professionalising the sector, and fostering public trust by creating a unified and transparent cooperative banking framework.
CSC e-Governance Services India Ltd. (CSC SPV) is a Special Purpose Vehicle under the Companies Act to implement the CSC Scheme and manage Common Service Centers (CSCs).
It enables a wide range of Government-to-Citizen (G2C), Business-to-Customer (B2C), and Business-to-Business (B2B) services, including e-KYC, eSign, DigiLocker, education, skills, and rural outreach services.
