The National Federation of Urban Cooperative Banks and Credit Societies Ltd. (NAFCUB) is an Apex Level Promotional body of Urban Cooperative Banks and Credit Societies Ltd. in the Country. Our main objective is to promote the urban cooperative credit movement and protect the interest of the Sector. The Federation was registered under the Multi-State Cooperative Societies Act as a Multi State Cooperative Society on 17th February, 1977. The Registered Office of NAFCUB is at Delhi and the area of operation is whole of the country. We represent around 1600 Urban Cooperative Banks and more than 50,000 Cooperative Credit Societies functioning all over India.
Some of the personalities to mention are Former President of India Her Excellency Smt. Pratibha Devisingh Patil, Hon’ble Union Minister of Minority Affairs Shri Rahman Khan, Shri H.K. Patil, Hon’ble Minister of Rural Development and Panchayat Raj, Government of Karnataka, Former Deputy Chief Minister Gujarat, Late Shri Atmarambhai Patel, Former Union Minister Shri Suresh Prabhu, Former Minister of State for Finance Late Dr. S.S. Sisodia, many Members of Parliament, Members of State Legislatives and Councils of different States and many other distinguished personalities.
NAFCUB is committed to work towards building a strong and viable urban co-operative banking and credit system across the Country, to strive for level playing field for the institutions, to be an effective voice of the sector, to work towards eliminating visible weaknesses and infirmities, to provide the training and other support and to knit the institutions into a cohesive unit for them to benefit from strength of being in co-operative system.
To do all it takes to ensure that urban co-operative banks are not denied level playing field, not discriminated against and to create expertise within the Federation in support of the goals to make urban co-operative banks and credit societies professionally managed, technologically equipped, sound and healthy financial entities that are associated with ethical practices, high levels of corporate social responsibility and high degree of empathy towards economically less privileged sections of the society.
The main objective of the National Federative is to promote Urban Cooperative Credit movement in the country. The other objectives of the Federation are as under:
- To provide a forum for discussion and follow up of issues relating to urban cooperative banks and co-operative thrift and credit societies.
- To promote and protect interest of member institutions and take up their problems individually and collectively at appropriate forum as well as with the concerned authorities /regulators.
- To interact and liaise with the Ministries of the Union Government, State Governments, the Reserve Bank of India, NABARD, Commercial Banks, financial sector institutions, representatives of various bodies of financial, industrial and trading sectors both at national and at international levels.
- To promote urban cooperative credit movement in India and to undertake studies /research projects related to the Movement.
- To organize by itself and / or in collaboration with other bodies, conferences, conventions, workshops, seminars and discussions on banking and financial services, cooperation, management and allied subjects.
- To arrange publication of periodicals, news bulletins and journals, to interact with media on behalf of the sector and to exchange information of common interest of member banks and to cooperate with the NCUI, NCCT, ICA, ICBA, CAB, NIBM, NIBSCOM, BIRD, IIB, IBA or any other such national or international organization in the field of education, training and publicity.
- To develop and administer by itself or along with other institutions, schemes for mutual benefit of urban cooperative credit institutions, and to take such action or enter into such agreements as may be necessary for furtherance of the objectives.
- To develop expertise in the areas of banking, management, technology and offer consultancy services to the member institutions.
- To take membership of other national and international institutions.
- To undertake all activities and discharge all functions of a Federal Cooperative as envisaged in section 24 of the Multi State Cooperative Societies Act, 2002.