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

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.