NUCFDC and CSC SPV Sign MoU to Digitally Transform Urban Cooperative Banks
NUCFDC and CSC SPV join hands to modernize Urban Cooperative Banks with digital solutions.
New Delhi | 25 September 2025: The National Urban Cooperative Finance and Development Corporation Ltd (NUCFDC) has signed a Memorandum of Understanding (MoU) with CSC e-Governance Services India Ltd. (CSC SPV). The partnership aims to accelerate the digital transformation of Urban Cooperative Banks (UCBs) across India.
Focus on Digital Infrastructure
The agreement will provide UCBs with secure and compliant digital infrastructure. The rollout will happen in phases. The first phase includes:
- Aadhaar-based eKYC
- eSign and digital signature certificates
- DigiLocker integration
- e-stamp services
- Cloud hosting and data centre management
- Cybersecurity solutions
Future phases will introduce internet and mobile banking, kiosk-based services, and digital communication platforms for UCBs.
Roles of NUCFDC and CSC SPV
NUCFDC will support its member UCBs in adopting the new digital tools. CSC SPV will provide platforms, APIs, and operational support. A joint governance team will oversee implementation, training, and compliance.
The agreement also ensures:
- Grievance redressal
- Data protection measures
- Alignment with regulatory norms
- Capacity building for staff
MoU Signing Ceremony
The MoU was signed in Mumbai in the presence of:
- Shri Prabhat Chaturvedi, CEO, NUCFDC
- Shri Bhagwan Patil, Group President, CSC SPV
Statements from Leadership
Shri Prabhat Chaturvedi, CEO of NUCFDC, said:
“Urban Cooperative Banks need to leap into the digital era while retaining their grassroots identity. This partnership equips UCBs with modern digital infrastructure. It enables efficient, transparent, and compliant services for millions of customers. Financial inclusion and trust will grow as UCBs modernize and strengthen.”
Shri Bhagwan Patil, Group President of CSC SPV, added:
“CSC SPV’s digital expertise combined with NUCFDC’s institutional mandate creates a strong technology platform. We aim to deliver scalable solutions for Urban Cooperative Banks. Citizens will experience convenient and modern banking services. This partnership reimagines UCBs for a digital India.”
Key Takeaway
The collaboration between NUCFDC and CSC SPV marks a major step in digitalizing Urban Cooperative Banks. It ensures secure, compliant, and efficient banking services while empowering UCBs to serve the public better in the digital era.
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