{"id":128773,"date":"2021-08-26T19:47:21","date_gmt":"2021-08-26T14:17:21","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=128773"},"modified":"2021-08-27T11:40:30","modified_gmt":"2021-08-27T06:10:30","slug":"finance-minister-unveils-4th-edition-of-public-sector-bank-reforms-agenda-ease-4-0","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/finance-minister-unveils-4th-edition-of-public-sector-bank-reforms-agenda-ease-4-0\/","title":{"rendered":"Finance Minister unveils 4th edition of Public Sector Bank Reforms Agenda &#8211; EASE 4.0"},"content":{"rendered":"<p><b>Source: <\/b><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=1748922\"><b>PIB<\/b><\/a><\/p>\n<h5><b>What is the News?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">The Union Minister of Finance and Corporate Affairs has unveiled the fourth edition of the <\/span><b>Public Sector Bank (PSB) Reforms Agenda \u2018EASE 4.0\u2019 for 2021-22.<\/b><\/p>\n<h5><b>About EASE:<\/b><\/h5>\n<ol>\n<li style=\"font-weight: 400;\"><b>Enhanced Access and Service Excellence(EASE) <\/b><span style=\"font-weight: 400;\">is a common reform agenda for Public Sector Banks (PSBs). It is aimed at institutionalizing clean lending, better customer service, simplified and enhanced credit and robust governance and HR practices.\u00a0<\/span><\/li>\n<\/ol>\n<p><b>EASE 1.0:<\/b><\/p>\n<ul>\n<li><b>The EASE 1.0 <\/b><span style=\"font-weight: 400;\">was aimed at enabling banking from home, effective grievance redressal and responsible banking through monitoring of large-value stressed loans among others.<\/span><\/li>\n<\/ul>\n<p><b>EASE 2.0:<\/b><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><b>The EASE 2.0 <\/b><span style=\"font-weight: 400;\">was launched in FY20 to further build on the foundation of EASE 1.0. It focussed on CLEAN and SMART banking.<\/span><\/li>\n<\/ol>\n<p><b>EASE 3.0:<\/b><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><b>The EASE 3.0 <\/b><span style=\"font-weight: 400;\">was launched in FY21. It focuses on the <strong>transformation of Public Sector Banks(PSBs) into Digital and Data-driven Banks<\/strong> through smart lending, Technology enabled ease of Banking, <\/span><span style=\"font-weight: 400;\">Credit@click, <\/span><span style=\"font-weight: 400;\">D<\/span><span style=\"font-weight: 400;\">ial-a-loan, Prudent Banking among others.<\/span><\/li>\n<\/ol>\n<h5><b>Achievements of EASE 3.0:<\/b><\/h5>\n<ol>\n<li style=\"font-weight: 400;\"><b>Public Sector Banks(PSBs) have reported healthy profits <\/b><span style=\"font-weight: 400;\">in FY21 as compared to losses in FY20. This is the first year when PSBs have reported a profit after five years of losses.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>The total gross non-performing assets <\/b><span style=\"font-weight: 400;\">stood at Rs. 6.16 lakh crore as of March 2021 &#8211;\u00a0 a <\/span><span style=\"font-weight: 400;\">reduction<\/span><span style=\"font-weight: 400;\"> of Rs. <\/span><span style=\"font-weight: 400;\">62,000 crore<\/span><span style=\"font-weight: 400;\"> from March 2020 levels.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Nearly <\/span><b>72% of financial transactions<\/b><span style=\"font-weight: 400;\"> happening at PSBs are now happening through <\/span><b>digital channels<\/b><span style=\"font-weight: 400;\">.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">PSBs are now offering services across call centres, Internet banking, and Mobile banking in <\/span><b>14 regional languages<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ol>\n<p><b>EASE 4.0:<\/b><\/p>\n<figure id=\"attachment_128916\" aria-describedby=\"caption-attachment-128916\" style=\"width: 684px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-128916 size-full\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/08\/FM7M1W0.png?resize=684%2C479&#038;ssl=1\" alt=\"Ease 4.0\" width=\"684\" height=\"479\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/08\/FM7M1W0.png?w=684&amp;ssl=1 684w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/08\/FM7M1W0.png?resize=300%2C210&amp;ssl=1 300w\" sizes=\"auto, (max-width: 684px) 100vw, 684px\" \/><figcaption id=\"caption-attachment-128916\" class=\"wp-caption-text\">Source: PIB<\/figcaption><\/figure>\n<ul>\n<li><b>EASE 4.0 <\/b><span style=\"font-weight: 400;\">aims to further the agenda of customer-centric digital transformation and deeply embed digital and data into PSBs\u2019 ways of working.\u00a0\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><strong>Themes:<\/strong> The key themes under EASE 4.0 are:<\/span>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Smart Lending<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">New Age 24&#215;7 banking with resilient technology\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Data-Enabled agricultural financing<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Collaborative banking for synergistic outcomes.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Source: PIB What is the News? The Union Minister of Finance and Corporate Affairs has unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda \u2018EASE 4.0\u2019 for 2021-22. About EASE: Enhanced Access and Service Excellence(EASE) is a common reform agenda for Public Sector Banks (PSBs). It is aimed at institutionalizing clean lending,&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/finance-minister-unveils-4th-edition-of-public-sector-bank-reforms-agenda-ease-4-0\/\">Continue reading <span class=\"screen-reader-text\">Finance Minister unveils 4th edition of Public Sector Bank Reforms Agenda &#8211; EASE 4.0<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[9343,8716,3261],"class_list":["post-128773","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-ease-3-0-banking-reforms-index","tag-money-and-banking","tag-public-sector-banks","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/128773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=128773"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/128773\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=128773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=128773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=128773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}