- Union Home and Cooperation Minister Amit Shah kicked off two new mobile apps on Monday—Sahakar Digi Pay and Sahakar Digi Loan—designed to help even the tiniest urban cooperative banks provide digital payment options.
- He unveiled these apps at the “Co-Op Kumbh 2025” international conference focused on the urban cooperative credit sector, organized by the National Federation of Urban Cooperative Banks and Credit Societies (NAFCUB).
- Shah pointed out that since the Ministry of Cooperation was established, the government led by Prime Minister Narendra Modi has made several key policy decisions aimed at fundamentally transforming every aspect of cooperatives, modernizing them, tackling challenges, and broadening their reach.
- In a statement from the Cooperation Ministry, Shah noted that over the last two years, the non-performing assets (NPAs) of urban cooperative banks have dropped from 2.8% to just 0.6%.
- “We need to enhance our operational standards and further solidify the progress we’ve made in financial discipline,” the statement emphasized.
Union Home and Cooperation Minister Amit Shah kicked off two new mobile apps on Monday—Sahakar Digi Pay and Sahakar Digi Loan—designed to help even the tiniest urban cooperative banks provide digital payment options.
He unveiled these apps at the “Co-Op Kumbh 2025” international conference focused on the urban cooperative credit sector, organized by the National Federation of Urban Cooperative Banks and Credit Societies (NAFCUB). Shah pointed out that since the Ministry of Cooperation was established, the government led by Prime Minister Narendra Modi has made several key policy decisions aimed at fundamentally transforming every aspect of cooperatives, modernizing them, tackling challenges, and broadening their reach.
In a statement from the Cooperation Ministry, Shah noted that over the last two years, the non-performing assets (NPAs) of urban cooperative banks have dropped from 2.8% to just 0.6%. “We need to enhance our operational standards and further solidify the progress we’ve made in financial discipline,” the statement emphasized.
Shah also mentioned that the government aims to set up one urban cooperative bank in every city with a population exceeding two lakh within the next five years. He added that GDP figures alone don’t tell the whole story of our progress; it’s crucial that everyone has access to work and sees an improvement in their living standards, which is something that can’t be achieved without cooperatives.