The notification enable the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC) to effectively function as an Umbrella Organisation for over 1,400 primary urban co-operative banks (UCBs). RBI has permitted NUCFDC to issue equity shares through private placement to more than 200 persons in a financial year, subject to conditions. These include a Board-approved resource plan, restricted subscription to UCBs and NCDC, prohibition on lending against its own shares, mandatory quarterly reporting, and compliance with statutory requirements.