Current Affairs - National - Discussion

Union Cooperation Minister Amit Shah launched two major digital platforms — Sahakar Digi Pay and Sahakar Digi Loan — to modernise urban cooperative banks (UCBs). These initiatives focus on integrating digital payment and lending systems to help UCBs remain competitive in India’s evolving cashless economy. The plan includes onboarding 1,500 banks within two years and ensuring at least one UCB operates in every town with a population exceeding two lakh within five years. The move also supports financial inclusion, youth entrepreneurship, and sectoral revival while reinforcing cooperative banking reforms to strengthen the sector’s financial health and governance standards.