Union Minister of Home Affairs Amit Shah has launched two new digital platforms, Sahakar DigiPay and Sahakar DigiLoan, developed by the National Federation of Urban Cooperative Banks and Credit Societies (NAFCUB) to accelerate digital payments and credit access across India’s cooperative banking sector.
The launch took place at Co-op Kumbh 2025, a two-day international event in New Delhi, where Shah emphasised that digital adoption is vital for the survival and growth of Urban Cooperative Banks (UCBs) in a rapidly evolving cashless economy.
He urged NAFCUB and other urban cooperative organisations to issue structured guidelines for redesigning financial systems and announced a vision to establish a UCB in every town with a population exceeding two lakh within five years.
The newly launched Sahakar DigiPay and Sahakar DigiLoan apps will empower even small cooperative societies to access digital payments and credit facilities seamlessly, fostering greater inclusion and innovation in the sector.
The event brought together industry leaders, policymakers, and cooperative representatives to discuss strengthening India’s cooperative ecosystem and advancing financial inclusion through technology.
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