MUMBAI: Union minister Amit Shah said on Saturday that his cooperative ministry has decided to relocate the headquarters of the National Urban Cooperative Finance and Development Corporation from Delhi to Mumbai so that Gujarat, Goa, and Karnataka, which are close to the cooperative movement, will get benefits.
“The umbrella organisation will play an important role in making the urban cooperative banking sector modern, transparent, reliable and technology-based,” Shah said at ‘Sahakar Nav-Kranti Melava’ in Mumbai. The minister expressed confidence that this will boost the expansion of the urban cooperative banking network to every tehsil. He said every urban cooperative bank, even one with a single branch, should become a member of the umbrella organisation.
“This will help increase the confidence of depositors in banks and make the banking sector more secure. The umbrella organisation will provide information about the latest reforms being made in the banking sector as well as many software facilities like Mule Hunter. Training programmes can be organised for employees with the help of the umbrella organisation,” Shah said.
He said the umbrella organisation will be a guide to stand at par with others in the competitive banking sector and gain the trust of the public and the RBI. “There are about 1,400 urban cooperative banks in the country with deposits of about Rs 6 lakh crore. The role of these banks is important for the economic development of the country,” Shah said.
