On November 10, 2025, Union Minister Amit Shah, Ministry of Cooperation, Ministry of Home Affairs (MHA), inaugurated “Co-op Kumbh 2025”, an International Conference on the Urban Cooperative Credit Sector, held from November 10 to 11, 2025, in New Delhi, Delhi.
- He launched two digital applications such as Sahakar Digi Pay and Sahakar Digi Loan, designed to modernize the Urban Cooperative Banking (UCB) in India.
Exam Hints:
- What? Co-Op Kumbh 2025 was held
- Organizer: NAFCUB
- Inauguration: Union Minister Amit Shah, Ministry of Cooperation, MHA
- Where? In New Delhi (Delhi)
- Theme: “Digitalising Dreams-Empowering Communities”.
- Initiatives launched: Sahakar Digi Pay and Sahakar Digi Loan apps
- Adoption: Delhi Declaration 2025
- Target: One UCB Per Town
About Co-Op Kumbh 2025:
Organizer: The Co-Op Kumbh 2025, organized by the National Federation of Urban Cooperative Banks and Credit Societies (NAFCUB), under the Ministry of Cooperation.
Alignment: The event aligns with the International Year of Cooperatives 2025, declared by the United Nations (UN) and the Government of India (GOI)’s aim to strengthen the cooperative sector.
Theme: The conference was held under the theme titled “Digitalising Dreams-Empowering Communities”.
Aim: The initiative aims to strengthen the urban cooperative sector, encompassing UCBs and Credit Societies, through policy reform, governance, and digitalization.
Dignitaries: Some of the dignitaries, including Union Minister of State (MoS) Krishnan Pal Gurjar, Ministry of Cooperation, were also present.
Highlights of the Co-Op Kumbh 2025:
Adoption of Delhi Declaration: The conference adopted the “Delhi Declaration 2025”, a roadmap to 2030, outlining a five-year plan to modernize and digitalize UCBs and credit societies.
- It focuses on improving governance, expanding financial inclusion to smaller cities, enhancing compliance, and integrating cooperatives into the national digital financial ecosystem.
Sahakar Digi Pay: It is a new digital payment system for cooperative banks that enables real-time transactions, including Unified Payments Interface (UPI) and card-based systems, for customers of UCBs.
- It is designed to help small cooperative banks join India’s mainstream digital payments ecosystem.
Sahakar Digi Loan: It is an online lending solution that enables UCBs to process, sanction, and monitor loans digitally, facilitating faster loan approvals, efficient credit analysis, and streamlined document management, helping UCBs compete effectively with commercial banks and fintech firms.
Developers: Sahakar Digi Pay and Sahakar Digi Loan applications have been developed by the NAFCUB in collaboration with the National Cooperative Development Corporation (NCDC) and Ministry of Cooperation.
One UCB Per Town: During the event, Union Minister Amit Shah announced the target to establish at least one UCB in every Indian city with a population of over two lakhs within 2030.
- The initiative aims to expand access to cooperative banking services for small businesses, self-employed individuals, and middle-income groups in smaller towns and urban areas.
Note: The Non-Performing Assets (NPAs) in cooperative banks had drastically reduced from 2.8% before the formation of Ministry of Cooperation in 2021, to 0.06% in 2025.
About National Federation of Urban Cooperative Banks and Credit Societies (NAFCUB):
President – Laxmi Dass
Headquarters – New Delhi, Delhi
Establishment – 1977
