A New Era for Cooperatives: Amit Shah Inaugurates NUCFDC's Headquarters

Cooperation Minister Amit Shah is set to launch the National Urban Cooperative Finance and Development Corporation office in Mumbai. He will unveil activities for the International Year of Cooperatives 2025 and introduce training programmes and a ranking system for primary cooperative societies to enhance their performance and credibility.

Cooperation Minister Amit Shah will inaugurate the corporate office of the National Urban Cooperative Finance and Development Corporation (NUCFDC) in Mumbai this Friday. The launch marks a significant step in bolstering urban cooperative banks with necessary IT infrastructure and operations support.

Alongside the inauguration, Shah will reveal the annual activity list for the International Year of Cooperatives 2025 and debut training programs for newly formed cooperative societies nationwide. Additionally, a ranking framework for primary cooperatives will be introduced, offering a structured system to evaluate performance, boost competitiveness, and elevate the credibility of these organizations.

The Ministry of Cooperation plans to conduct 1,135 training programs across 33 states and Union Territories. Special emphasis will be placed on modern management, financial planning, digitization, and good governance with the goal to train over 56,000 individuals. With a paid-up capital of Rs 300 crore, NUCFDC is geared to function as a self-regulatory body governed by the Reserve Bank of India.

(With inputs from agencies.)