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Nirmala Sitharaman unveils Public Sector Bank Reforms Agenda (EASE 4.0)

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Union Minister of Finance and Corporate Affairs, 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).

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What is the aim of EASE 4.0?

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.

Important 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

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