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Finance minister to launch EASE 4.0

August 25, 2021

Finance minister to launch EASE 4.0
Finance Minister Nirmala Sitharaman, will undertake an annual performance review of public sector banks (PSBs) on Wednesday. This is the main visit by the finance minister since the beginning of the Covid disease (Covid-19) pandemic and comes when a greater focus is on the government for supporting recuperation since high inflation constrains the Reserve Bank of India (RBI). 
 
Sitharaman will launch EASE 4.0 (Enhanced Access and Service Excellence) later in the day. EASE is a common reform agenda for Public Sector Banks aimed at institutionalizing clean and smart banking. 
 
EASE focuses on six topics of client responsiveness, responsible banking, and credit offtake, PSBs as Udyami Mitra, deepening financial inclusion and digitalization, and developing personnel for brand PSB. 
 
It is part of the reforms agenda formulated on the proposals made at the PSB Manthan held in November 2017 including senior management of PSBs and representatives from the government. 
 
The system for the reforms agenda is “Responsive and Responsible PSBs”. 
 
Its first version EASE 1.0 was launched in January 2018. EASE 3.0 was launched in February last year, which looked to enhance ease of banking in all client experiences, using technology, alternate data, and analytics.

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