Sahakar Setu 2024: A New Era for Urban Cooperative Banking in India
Newzdaddy Business Updates
Synopsis of the Article
- Sahakar Setu 2024, West India Urban Co-operative Banking Summit, is set to take place on September 26, 2024, in Gandhinagar, Gujarat.
- The summit is jointly organized by the National Urban Co-operative Finance and Development Corporation (NUCFDC) and the Gujarat Urban Cooperative Banks Federation (GUCBF).
- Shri Bhupendra Patel, Chief Minister of Gujarat, and Shri Jagdish Vishwakarma, Cooperation Minister, will deliver keynote addresses.
- The summit will focus on the theme “Technology for Transparency and Transformative Growth”, emphasizing the role of technology in driving sustainable growth within Urban Cooperative Banks (UCBs).
- Around 10+ speakers, including policymakers, regulators, and industry leaders, will address the summit, with an expected 500 participants.
- Keynote speakers include M Rajeshwar Rao, Deputy Governor of the Reserve Bank of India, and Dr. Ashish Kumar Bhutani, Secretary of the Ministry of Cooperation.
- Shri Jyotindra Mehta, Chairman of NUCFDC and GUCBF, emphasized that UCBs in Western India, particularly in Maharashtra and Gujarat, are leading the cooperative movement.
- The summit will focus on how UCBs can adopt technology to enhance transparency, improve customer service, and meet local community financial needs.
- The event will also honor innovators and leaders who have contributed to financial inclusion and responsible banking practices.
- Networking opportunities, panel discussions, and idea exchanges will take place, promoting collaboration and innovation.
Sahakar Setu 2024: A Crucial Event for the Future of Urban Cooperative Banking in India
The Sahakar Setu 2024, West India Urban Cooperative Banking Summit, will take place on September 26, 2024, in Gandhinagar, Gujarat. This one-day event is co-organized by the National Urban Co-operative Finance and Development Corporation (NUCFDC) and the Gujarat Urban Cooperative Banks Federation (GUCBF), two major organizations that represent India’s Urban Cooperative Banking Sector. The event will focus on how these banks can evolve and adapt to new challenges, particularly with the use of technology.
A Platform for Industry Leaders and Experts
The summit will feature speeches and discussions from more than 10 prominent speakers. These include policymakers, regulators, and industry leaders who work in the Urban Cooperative Banking (UCB) sector. Around 500 participants are expected to attend, making it a key event for professionals in this industry.
The theme of the summit is “Technology for Transparency and Transformative Growth.” This reflects the importance of technology in improving how UCBs operate. The event will showcase how technology can help UCBs build trust with customers, become more efficient, and grow sustainably.
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Inaugural Session with Top Leaders
The inaugural session of Sahakar Setu 2024 will be headlined by Shri Bhupendra Patel, Chief Minister of Gujarat, and Shri Jagdish Vishwakarma, Cooperation Minister of Gujarat. Their speeches will focus on “Responsible Banking for Sustained Growth and Development.”
Other high-profile speakers include Shri M Rajeshwar Rao, Deputy Governor of the Reserve Bank of India, and Dr. Ashish Kumar Bhutani, Secretary of the Ministry of Cooperation. These leaders will talk about the importance of responsible banking practices and how they can drive the development of the cooperative banking sector.
The Importance of Technology in Urban Cooperative Banking
In today’s digital age, technology plays a huge role in shaping the financial sector. This is no different for Urban Cooperative Banks. Shri Jyotindra Mehta, Chairman of NUCFDC and GUCBF, explained that half of the Urban Cooperative Banks (UCBs) are located in Maharashtra and Gujarat, the heart of the cooperative movement in India.
These banks are important players in helping the Indian government achieve its goal of financial inclusion, which means ensuring that all people have access to financial services. Many UCBs have already adopted new technologies to improve how they work, but there is still a lot of untapped potential. The summit aims to bring together the entire UCB ecosystem to discuss how all banks can modernize and become more resilient.
The Role of UCBs in Serving Local Communities
Urban Cooperative Banks are essential to serving local communities. According to Shri J V Shah, CEO of GUCBF, UCBs are known for their excellent customer service and quick, tailored solutions for people who may not have access to traditional banking services. This personalized service makes them the first choice for many customers in local communities.
However, to stay competitive, UCBs need to embrace digital solutions that improve transparency and customer experience. This summit is a great opportunity for UCBs to come together and discuss how they can continue to grow in a digital world.
Recognizing Contributions and Promoting Collaboration
The Sahakar Setu 2024 Summit will not just be about discussions—it will also celebrate the people and organizations that have contributed to the growth of UCBs. Innovators and leaders who have played a key role in promoting financial inclusion and responsible banking practices will be honored at the event.
Additionally, there will be plenty of opportunities for networking and exchanging ideas. Attendees will get a chance to meet with other professionals in the sector, share experiences, and collaborate on new ways to move the industry forward.
Looking Ahead: The Future of Urban Cooperative Banks
As the summit wraps up, the key takeaways will likely focus on how UCBs can use technology to remain relevant in a changing financial landscape. By adopting more transparent practices and embracing innovation, UCBs can continue to serve their communities while staying competitive with larger banks.
The Sahakar Setu 2024 Summit will set the stage for the future of urban cooperative banking, helping these institutions to thrive in a digital era.
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