Prabhat Chaturvedi has been appointed as the second CEO of the National Urban Cooperative Finance & Development Corporation (NUCFDC), an emerging Umbrella Organization (UO) for Urban Cooperative Banks (UCBs) in India. His predecessor, Shri Atul Khirwadkar, was the inaugural CEO of NUCFDC and played a foundational role in shaping the vision for the corporation.
Prabhat brings extensive experience to the position, having previously served as CEO of Netafim Agricultural Financing Agency (NAFA). His leadership at NUCFDC is expected to foster innovative approaches to bridge the gap in technology adoption and management skills within UCBs—two critical areas where urban cooperative banks have traditionally struggled to stay competitive.
NUCFDC, established as a Non-Banking Financial Company (NBFC), aims to act as a pivotal force in the cooperative banking sector by providing liquidity and capital support to its member banks. The UO will also play a key role in driving technological advancement across UCBs, enabling them to offer enhanced financial services and Fintech solutions that meet the evolving needs of their customer base.
Under Chaturvedi’s leadership, NUCFDC is positioned to become a fully integrated ecosystem, offering inclusive financial services and innovative products designed to reach a broader audience, particularly those who depend on UCBs for their primary banking needs. These banks often face challenges in delivering timely and effective financial solutions, leaving gaps in customer support. NUCFDC’s mission will be to empower these institutions with cutting-edge tools and resources, ensuring they can provide the high-quality services their customers require.
As the newly appointed CEO, Chaturvedi is expected to lead NUCFDC in its journey to modernize the cooperative banking sector, enhancing its competitive edge and ensuring the delivery of essential financial services to underserved segments. His expertise and vision will be crucial in transforming UCBs into key players in India’s financial landscape, offering last-mile banking solutions to a larger and more diverse customer base.
This strategic leadership transition marks a new chapter for NUCFDC, with a focus on building a robust, technology-driven cooperative banking ecosystem capable of addressing the challenges and opportunities of the modern financial sector.