CSC SPV Partners with NUCFDC to Redefine Urban Banking
- NUCFDC and CSC SPV join hands to accelerate digital transformation of Urban Cooperative Banks.
- Initiatives include Aadhaar-based eKYC, eSign, DigiLocker, cloud hosting, cybersecurity, followed by mobile/internet banking and digital kiosks.
- Joint team to oversee implementation, training, compliance, data protection, and capacity building across member UCBs.
In a significant step towards modernizing India’s Urban Cooperative Banks (UCBs), 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 sector’s digital transformation by providing secure, compliant, and scalable digital infrastructure.
The initiative will be implemented in phases, starting with Aadhaar-based eKYC, eSign, digital signature certificates, DigiLocker integration, e-stamp services, cloud hosting, data centre management, and cybersecurity solutions. Subsequent phases will focus on internet and mobile banking, kiosk-based services, and digital communication platforms.
Under the agreement, NUCFDC will facilitate adoption across its member UCBs, while CSC SPV will provide platforms, APIs, and operational support. A joint governance team will oversee implementation, capacity building, and compliance, ensuring alignment with regulatory norms. The MoU also includes training, grievance redressal, and robust data protection measures to strengthen institutional processes.
The MoU was formally signed in Mumbai in the presence of Shri Prabhat Chaturvedi, CEO, NUCFDC, and Shri Bhagwan Patil, Group President, CSC SPV, marking a key milestone in the digital evolution of UCBs.
Commenting on the partnership, Shri Prabhat Chaturvedi, CEO, NUCFDC, said, “The Urban Cooperative Banking sector needs to leapfrog into the digital era along with its legacy grassroots character. This partnership equips UCBs with future-ready digital infrastructure, enabling them to serve millions with greater efficiency, transparency, and compliance. At a time when financial inclusion and trust are central to sectoral growth, this collaboration places UCBs firmly on the path of modernisation and resilience”.
Shri Bhagwan Patil, Group President, CSC SPV, said, “CSC SPV’s digital backbone, coupled with NUCFDC’s institutional mandate, creates a powerful Technology platform for transformation of Urban Cooperative Banks (UCBs). Together, we will deliver scalable solutions that strengthen the Cooperative Bank sector and also ensure last-mile citizens experience banking services with the same convenience. This is about reimagining urban cooperative banking for a digital India”.
