Back to Career News

PSU Banks give a digital push as part of EASE reform agenda

September 19, 2022

PSU Banks give a digital push as part of EASE reform agenda
Public sector banks are fast adapting to digital means as they have cleared digital lending of Rs 83,091 crore in the financial year ending March 2022.

As part of EASE 4.0 reforms, state-owned banks were asked to focus on digital lending, co-lending with non-banking firms, agriculture financing, and technological resilience for 24×7 banking. The Enhanced Access and Service Excellence (EASE) program, driven by Indian Banks’ Association (IBA), also stressed on data analytics, automation, and digitization.

Launched in 2018, EASE programme sets a common reforms agenda for public-sector banks every year. EASE aims to foster new-age reforms in Public sector banks (PSBs) to improve profitability, asset quality, customer service and digital capabilities.

The fourth edition of EASE was focussed on technology-enabled simplified and collaborative banking and Finance Minister Nirmala Sitharaman felicitated top performing banks on various parameters, according to a IBA statement.

Bank of Baroda received the first prize among all PSBs for the best overall performance on PSB Reforms EASE Agenda 4.0. State Bank of India and Canara Bank were ranked second and third respectively. Indian Bank emerged as the ‘Top Improver’ across all PSBs.

Important Links:

Recommended for you ...

Tech Mahindra inks MoU with Axiata to develop 5G solutions
Tech Mahindra inks MoU with Axiata to develop 5G solutions

December 01, 2022

City Union Bank authorised to enable GST payments
City Union Bank authorised to enable GST payments

December 01, 2022

RBI authorises Tamilnad Mercantile Bank to undertake govt business
RBI authorises Tamilnad Mercantile Bank to undertake govt business

December 01, 2022

Chat on WhatsApp