01-09-2021 | 18:05 PM
• The Ministry of Finance recently launched the fourth edition of Public Sector Bank (PSB) Reforms Agenda called ‘EASE 4.0’ for the financial year 2021-22. EASE 4.0 is a simplified, tech-enabled and collaborative banking.
• On the occasion, Finance Minister launched the annual report for PSB Reforms Agenda EASE 3.0 for the year 2020-21 and also witnessed the awards ceremony to felicitate the best performing banks on EASE 3.0 Banking Reforms Index.
• SBI, Bank of Baroda (BoB), and Union Bank of India (UBI) won the awards for best performing banks on the basis of EASE index.
• Indian Bank won the award for best improvement from baseline performance.
• SBI, BoB, UBI, Punjab National Bank and Canara Bank also won the top awards across different themes of PSB Reforms Agenda EASE 3.0.
Objectives of EASE 4.0
• EASE 4.0 reforms to look after four key initiatives to be adopted by public sector banks:
Smart lending backed by analytics
24×7 banking with resilient technology & cloud-based IT systems
Data enabled agriculture financing
Collaboration with the financial ecosystem