National Federation Of Urban Cooperative Banks & Credit Societies Ltd. New Delhi

Dear Cooperators,

As you all are aware, RBI formed a Working Group on 19 December 2007 under the chairmanship of Shri R. Gandhi, Regional Director, RBI and 8 other members. The Terms of Reference for the Working Group, inter-alia, was to structure a model/benchmark level of IT infrastructure for UCBs in general or identified sub groups of UCBs. The said committee was of the view that CBS on Application Service Provider (ASP) model would be more suitable and affordable for the UCBs especially for the smaller ones.

In the light of the above, the National Federation of Urban Co-operative Banks and Credit Societies Ltd., (NAFCUB) took the initiative and the Board of NAFCUB constituted an Expert Group under the Chairmanship of Dr. R. B. Barman, Executive Director (Retd.) RBI. Under the guidance of the Expert Committee, NAFCUB floated tenders for selection of vendors for implementing Core Banking Solutions (CBS) on ASP Model in UCBs across the country. Vendors were shortlisted to provide CBS on ASP to UCBs after having done the entire exercise including on-site and off-site demonstrations by the vendors.

The urban banks were given the discretion to select any one of the vendors shortlisted by the Expert Committee. For this purpose, the UCBs were required to enter into a tripartite agreement between the Bank, NAFCUB and the selected vendor. The per month per branch charges were fixed at Rs. 12,900/- (Rupees twelve thousand nine hundred only) and Head Office is also treated as a branch as it requires a specific HO module.

NAFCUB acted as co-coordinator, facilitator and arbitrator for any assistance required by the banks. The roles and responsibilities between the bank, NAFCUB and the vendor were made amply clear in the Memorandum Of Understandings (MoU). The MoUs were valid for a three year period from the date of signing.

After the completion of three years, the BoD of NAFCUB reviewed the status and found that the Vendor's services under the NAFCUB Scheme were not satisfactory. Vendors were more interested in signing agreements with banks directly outside the purview of NAFCUB’s tripartite agreements.

Therefore, the BoD in its meeting held on April 26, 2014 decided to discontinue with CBS Scheme and on the suggestion of Directors, agreed to Empanel the Vendors without binding them under agreement. Terms and conditions for the empanelment of vendors with NAFCUB were also kept very simple so that more vendors can get empanelled. The terms and conditions are also given below. For more information on empanelment, please contact Sh. Vivek Gupta, Deputy Director, +91-98687-35253 or email

Terms and Conditions for Empanelment as Vendor

  • The empanelment will be for a period of THREE years from date of empanelling.
  • The vendor will have to deposit a refundable security amount of Rs. 3.00 lacs for the empanelled period on which no interest will be paid at the time of refund.
  • There will be one time Empanelment Fee of Rs. 1.00 lac only.
  • There will not be any other recurring charges payable to NAFCUB by the vendor after empanelment.
  • Vendor will have to sign the Bi-partite agreement with the Bank on terms and conditions as mutually agreed upon, without any liability on the part of NAFCUB.
  • NAFCUB will publish list of empanelled vendors from time to time.
  • Empanelment will be done only on the recommendation of at least one of the sitting Directors of NAFCUB. Without the recommendation letter, request for empanelment will not be entertained.

At present we have following vendors on our panel. You may contact them directly for any further information.

List of Empanelled Vendors with NAFCUB

(As on May 2023)

S.No. Name and Address of the Vendor Contact Details Period of Validity of Empanelment

Sh. Abu Torab


Stellar Informatics Pvt. Ltd. C-56/9, Sector – 62, NOIDA – 201 307 Distt. Gautam Budh Nagar, Uttar Pradesh


+91–120–4356783, 4330040

November 2022
November 2025


Mr. Raghav Gupta

Business Development Manager

Mindmill Software Ltd. 24A, Film City, NOIDA, Uttar Pradesh – 201 301


September 2022
September 2025


Mr. Pranab Singha

Manager – Key Accounts

Iron Mountain NH. 8, 63rd Milestone, Opp. Basant Dhabha, Bhora Kalan, Bilaspur, Gurgaon, Haryana – 122 413



December 2022
December 2025


Mr. Heramb Damle


Trust Systems & Software (I) Pvt. Ltd. Plot No. 11/4, Info Tech Park, Gayatri Nagar, Nagpur – 440 022 Maharashtra



May 2023
May 2026