FM Nirmala Sitharaman Launches EASE 3.0 reform agenda for tech-enabled banking
- Finance Minister Nirmala Sitharaman launched the EASE (Enhanced Access and Service Excellence) 3.0 reform agenda on February 26, 2020 to bring reform in the existence of Public Sector Banks (PSBs) through the use of FinTech, AI & analytics.
- EASE 3.0 aims at providing smart, tech-enabled public sector banking experience for aspiring India, by establishing paperless and digitally-enabled banking at places where people visit the most such as malls, stations etc.
- With EASE 3.0, the government is trying to enhance the customer experience with the introduction of features like Dial-a-loan, credit at a click, alternate-data-based lending or other analytics-based credit offers.
- Some facilities to be included under EASE 3.0 reforms agenda includes:
- Palm Banking for “End-to-end digital delivery of financial service”.
- “Banking on Go” via EASE banking outlets at frequently visited spots like malls, stations, complexes, and campuses.
- Digitalising the experience at public sector bank branches.
Points to Remember:
- Full form of EASE 3.0 reform agenda?
- EASE 3.0 reform agenda has been launched for which sector? Banking