The Maharashtra Urban Co-operative Bank Federation was established on 9th March, 1979 under the provision of Maharashtra State Co-operative Act. It was formed on the basic principle of co-operation i.e. no profit, no loss,. The Federation meets its day-today expenses through the subscription fee from its members, which comprise all urban co-operative banks’ in Maharashtra. As on today there are 521 Urban Co-operative Banks associated with the Federation out of 668 Urban Co-operative Banks’ in Maharashtra. Apart from this there are 16 districts/ regional bank associations are also members of this federation. Comparing to other State Federations Maharashtra State Federation is a widespread and proactive organisation in the country.

The elected members from various organisations conduct the functions of the Federation. Board of Directors is elected every five years, which comprises 13 members from Urban Co-operative Banks and six members from Associations. Besides this, two members from State Level Mahila reserve constituency and two adopted members are also co-opted on the board. Meeting of Board of Directors is held bi-monthly. One executive committee is formed among the Board of Directors. The Chief Executive & Secretary along with employees is responsible to carry the day to day working and the implementation of the decisions taken by the Board of Directors / Executive Committee.

The Federation represent almost all co-operative banks in Maharashtra, who are working since last many decades in rural and semi urban areas to establish banking habits in middle class and lower middle class in our State.

Object :
To facilitate the positive and vibrant growth of urban co-operative banks, the federation gives them advice on many important matters. Statutory regulation, Credit Policy, Financial norms and reforms, stipulated by Reserve Bank of India, are the few subjects where the Federation works proactively for making a valuable contribution to the urban co-operative banks. It also plays an important role to educate co-operative banks on various complicated issues. It is a nodal organisation between Reserve Bank of India. State Government and Urban Co-operative Banks. To enhance banking knowledge and to educate banking staff, the Federation conducts various training programs, seminars etc. If we go through the development of urban co-operative banks in India since last one decade, it will reveal that one third of its development is contributed by the Maharashtra State. And all credit goes to Federation and its member banks that perform very professionally and efficiently.

The Federation is acting as a leading spoke-person organisation of all urban co-operative banks. Since last one decade the Federation has organised various seminars at district/ region level and ventilated various issues and demands of co-operative sector, arising in these seminars, to RBI and State government. It also continuosly pursued in various matters, relaxations pending with RBI and State government.

The Federation educates all the member banks regarding Documentation, Stamp duty, Verification of Security. TDS and also precautions to be taken by weak and sick banks. It also communicates directives and guidelines issued by RBI to its member banks.

Future Plan:
To sustain in this global competition co-operative banking sector has to work proactively. To communicate quickly we have also introduced our web site (www.mucbf.org)

Through this web site we can educated our member banks on various banking trends, which will effectively influence their banking business.

Also we are working on introducing various value added services for our member banks such as insurance business, effective management of funds for better returns in government securities, designing various scheme which attracts small cost deposits. Effective use of information technology for giving the customer various facilities like anywhere banking. Real Time Gross Settlement, ATMs etc.

In years to come this sector will undergo dramatic changes, and it will have to reinvent its strategies. We, as a Federation, ready and willing to help our member banks, assure that we will ensure an environment in which there will be a number of co-operative banks growing dynamically, in a mutually supporting manner, contributing substantially to the society in this changing economical scenario and the UCB sector will penetrate every area of rural as well as urban Maharashtra.