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

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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