Finance Minister unveils 4th edition of Public Sector Bank Reforms Agenda (EASE 4.0)

Finance Minister unveils 4th edition of Public Sector Bank Reforms Agenda (EASE 4.0)

• Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman has unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22. The major theme for EASE 4.0 is “Technology-enabled, simplified, and collaborative banking.”
• EASE stands for- Enhanced Access & Service Excellence (EASE).
• Aim: EASE 4.0 aims to further the agenda of customer-centric digital transformation and deeply embed digital and data into PSBs’ ways of working. EASE 4.0 sets the agenda and roadmap to transform all PSBs into digital-attacker banks working hand-in-hand with key constituents of the financial services ecosystem to offer industry-best customer experience.
• Key Initiatives under EASE 4.0:
  • Smart Lending for Aspiring India
  • New Age 24×7 banking with resilient technology
  • Collaborative banking for synergistic outcomes
  • Tech-enabled Ease of Banking
  • Institutionalizing Prudent Banking
  • Governance and Outcome Centric HR

Points to remember:

1. EASE full form?
2. Latest edition of EASE?- 4.0
3. Major theme of Ease 4.0?= “Technology-enabled, simplified, and collaborative banking.”

Source: PIB