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Comprehensive News & Analysis

01-09-2021 | 18:05 PM

EASE 4.0 

• 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. 

Key Highlights 

• 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