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 with CSC e-Governance Services India Ltd. (CSC SPV) to fast-track the sector’s digital transformation.
The partnership aims to equip UCBs with secure and compliant digital infrastructure. The rollout will be undertaken in phases, beginning with Aadhaar-based eKYC, eSign, digital signature certificates, DigiLocker integration, e-stamp services, cloud hosting, data centre management, and cybersecurity solutions. Subsequent phases will introduce internet and mobile banking, kiosk-based services, and digital communication platforms.
NUCFDC will facilitate adoption across its member UCBs, while CSC SPV will provide platforms, APIs, and operational support. A joint governance team will oversee implementation and capacity building. The agreement also covers training, compliance support, grievance redressal, and data protection measures, with an emphasis on aligning with applicable regulatory norms to strengthen institutional processes within the UCBs.
The MoU was formally signed in Mumbai in the presence of Shri Prabhat Chaturvedi, CEO, NUCFDC, and Shri Bhagwan Patil, Group President, CSC SPV.
Commenting on the partnership, Shri Prabhat Chaturvedi, CEO, NUCFDC, said, “The Urban Cooperative Banking sector needs to leapfrog into the digital era along with its legacy grassroots character. This partnership equips UCBs with future-ready digital infrastructure, enabling them to serve millions with greater efficiency, transparency, and compliance. At a time when financial inclusion and trust are central to sectoral growth, this collaboration places UCBs firmly on the path of modernisation and resilience.”
Shri Bhagwan Patil, Group President, CSC SPV, said, “CSC SPV’s digital backbone, coupled with NUCFDC’s institutional mandate, creates a powerful Technology platform for transformation of Urban Cooperative Banks (UCBs). Together, we will deliver scalable solutions that strengthen the Cooperative Bank sector and also ensure last-mile citizens experience banking services with the same convenience. This is about reimagining urban cooperative banking for a digital India.”