In a significant push towards digitization, Union Cooperation Minister Amit Shah has unveiled the 'Sahakar Digi Pay' and 'Sahakar Digi Loan' applications, aiming to modernize urban cooperative banks (UCBs) nationwide. These initiatives come as crucial steps in ensuring the survival of UCBs in a rapidly evolving cashless economy.

At a two-day international conference on the urban cooperative credit sector, Shah underscored the reduction of non-performing assets in UCBs from 2.8% to 0.6% over two years, attributing this success to the Reserve Bank of India's efforts in modernizing these institutions. He encouraged the expansion of UCBs to every town with over 200,000 residents and converting successful cooperative credit societies into UCBs.

Shah highlighted the necessity of adapting to di

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