Jubilee Post News & Views
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
Jubilee news desk
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.
