Shah sets target of 1 co-op bank per city, launches 2 apps

Says NPAs have come down to 0.6% from 2.8% in past two years

The government also plans to open one urban cooperative bank in every city with a population over two lakh within five years.

Amit Shah launched the Sahakar Digi Pay and Digi Loan apps to modernise urban cooperative banks and promote digital banking. (File Photo)

Union Home and Cooperation Minister Amit Shah on Monday launched two mobile applications—Sahakar Digi Pay and Sahakar Digi Loan—which will enable even the smallest urban cooperative banks to offer digital payment facilities.

Launching the apps during the international conference on urban cooperative credit sector “Co-Op Kumbh 2025”, organised by the National Federation of Urban Cooperative Banks and Credit Societies (NAFCUB), which began Monday, Shah said since the establishment of the Ministry of Cooperation, Prime Minister Narendra Modi-led government has taken several important policy decisions to bring about fundamental changes in every sector related to cooperatives, modernisation, resolving challenges, and expanding its reach.

According to a statement released by the Cooperation Ministry, Shah highlighted that in the past two years, non-performing assets (NPAs) of urban cooperative banks have come down to 0.6% from 2.8%. “We must improve operational standards and further strengthen the improvements achieved in financial discipline,” the statement said.

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Shah said the government has also set a target of establishing one urban cooperative bank in every city with a population of more than two lakh within five years. As per the statement, Shah said that GDP figures alone cannot reflect our progress; we must also ensure that every person gets some work and that their standard of living improves, which cannot happen without cooperatives.

Union MoS, Cooperation Ministry, Krishan Pal Gurjar, ministry’s secretary and other officials were present.

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