Introduction
The need for an Umbrella Organisation for India's UCB sector on the lines of those existing abroad was first emphasized in 2006 by an RBI Working Group chaired by Shri N.S. Vishwanathan (the then CGM, and presently, Retired Deputy Governor RBI). The recommendation was made in the context of exploring avenues for UCBs for raising capital, as also the need for professionalization of the sector and reviving the sagging public confidence in the sector post the MMCB crisis. Thereafter, RBI appointed another Working Group on Umbrella Organisation for the UCB sector under the chairmanship of Shri V.S. Das, then Executive Director RBI. In a comprehensive report submitted in 2009, based on the study of umbrella organisations in other countries, this Working Group recommended a model of a national level Umbrella Organization for the UCB sector on the lines of umbrella organisations of credit unions abroad. These recommendations were subsequently broadly supported by certain other high level RBI committees and also by UCBs themselves in several conferences organized by NAFCUB and other state federations/ organizations.
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Mission
Umbrella organisation is being conceived as a robust, professionally run organisation for India’s UCB sector, like those functioning abroad, to foster mutual support and protect UCBs in their growth, governance, enhance their IT capabilities and inculcate ability to face the challenges of competition and contribute towards the nation’s economic and social development.
Vision
We are presently a start-up organisation trying to find our feet, with a dream of possessing the ability and professional competence to facilitate the healthy growth of the UCB sector, to make it vibrant and carve a significant and respectable niche for itself in the diverse and increasingly digital and competitive financial landscape. We would like our company to be leveraged on the latest IT architecture and be able to host CBS, payment gateways and systems and offer a slew of products and services to our member banks.
Values
Integrity, Transparency & Accountability being the core values will help in delivering sound corporate governance. Serving the urban cooperative banking sector and supporting its upliftment to the best of our ability will be our constant endeavour. We will treat our human resources as our most precious asset and provide them a conducive work environment and opportunities for their professional development and growth.
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