Launched by
Shri Amit Shah, Union Home Minister and Minister of Cooperation at Co-op Kumbh
2025, the digital platforms aim to boost digital payments and paperless lending
capabilities
Delhi: The National
Urban Co-operative Finance and Development Corporation (NUCFDC), the Umbrella Organization
for Urban Cooperative Banks (UCBs), has launched Sahakar Digipay and Sahakar
Digiloan. These two purpose-built digital solutions aim to strengthen payments
infrastructure and automate lending operations across the UCBs. The initiative is
part of NUCFDC’s broader strategy to drive digital transformation, enhance operational
efficiency, and promote customer-centric innovation within the UCB ecosystem at
affordable costs.
Unveiled by Shri Amit Shah, Union
Home Minister and Minister of Cooperation, at Co-op Kumbh 2025, the new digital
solutions align with the government’s vision of creating digitally empowered
and sustainable UCBs. The products are designed to modernize UCB operations and
enable them to better serve a new generation of tech-savvy customers.
Speaking about the products, Shri
Jyotindra Mehta, Chairman, NUCFDC, said, “India’s 1,400-plus Urban
Co-operative Banks serve over 9 crore customers across the country through a
network of nearly 11,500 branches. They play a vital role in advancing
financial inclusion, yet many continue to face challenges in adopting secure
and scalable digital systems. To remain trusted and competitive, UCBs must
become digitally strong while upholding their core values of trust and
transparency. NUCFDC’s product suite is designed to bridge this gap by offering
affordable, future-ready solutions that strengthen governance and service
delivery. These innovations will empower UCBs to deliver faster, smarter, and
more secure financial services, making them self-reliant and driving their
growth.”
Shri Prabhat Chaturvedi, CEO,
NUCFDC, said, “The
products are designed to simplify digital transformation for UCBs, with each
addressing a specific operational challenge. These solutions minimize manual
intervention, improve turnaround time, and ensure regulatory compliance. Built
for long-term digital resilience, they mark a decisive step toward making UCBs
more confident and efficient. It is an important milestone in the digital
evolution of India’s Urban Co-operative Banking sector, enabling UCBs to become
more competitive and resilient in a fast-changing financial landscape.”
Sahakar Digipay by NUCFDC is a
centralized UPI switch designed to help banks lower transaction costs. It is
equipped with advanced fraud detection and risk mitigation tools, providing
Urban Co-operative Banks with a secure, scalable, and compliant payments
infrastructure.
Sahakar Digiloan, is a Loan
Origination System that enables UCBs to accelerate customer onboarding through
paperless processes. It features digital KYC, automated credit assessment, and
real-time risk identification to strengthen both retail and commercial lending
operations. Designed to promote data-driven decision-making and transparent
credit delivery, the platform aims to significantly reduce turnaround time and
enhance lending efficiency of the UCBs.