National Urban Cooperative Finance and Development Corporation Limited (NUCFDC) Inaugurated by Amit Shah
| Key Aspect | Details |
|---|---|
| Event | Home Minister Amit Shah inaugurated the National Urban Cooperative Finance and Development Corporation Limited (NUCFDC) in New Delhi. |
| Objective | Modernize and strengthen the Urban Cooperative Banking Sector. |
| Key Initiative | One Town-One Urban Cooperative Bank initiative to establish a bank in every town. |
| Role of NUCFDC | Acts as an umbrella organization providing specialized functions and services. Certified by RBI as an NBFC and SRO. |
| Current Statistics | 11,000 branches of 1,500 banks with significant deposits and loans. |
| Paid-up Capital Target | Urban cooperative banks urged to achieve the target within a year. |
| Net NPA Rate | Current rate of 2.10%; aimed to reduce further. |
| Future Goals | Strengthen the foundation over the next three years for sustained growth and development. |
| Challenges Addressed | Enhance depositors' confidence and ensure progress in the sector. |