Begin typing your search...

PSBs transforming into digital, data-driven banks

EASE has been instrumental in systematically addressing root causes of weaknesses in PSBs: FM

PSBs transforming into digital, data-driven banks
X

PSBs transforming into digital, data-driven banks

  • Whatsapp
  • Telegram
  • Linkedin
  • Print
  • koo
  • Whatsapp
  • Telegram
  • Linkedin
  • Print
  • koo
  • Whatsapp
  • Telegram
  • Linkedin
  • Print
  • koo

Transformation of public-sector banks (PSBs) into digital and data-driven banks, says the report 'EASE 4.0', which was released by the union finance minister Nirmala Sitharaman in Mumbai on Wednesday.

PSB reforms agenda EASE (Enhanced Access and Service Excellence) was launched based on the recommendations made by PSB Whole Time Directors (WTDs) and senior executives in PSB Manthan in November 2017. It encapsulates a synergistic approach to ensure prudent and clean lending, better customer service, simplified and enhanced credit, and robust governance and HR practices.

The Reforms Agenda is pursued through a unique Reforms Index that enabled objective assessment of progress on all key areas in PSBs viz, governance, prudential lending, risk management, technology- and data-driven banking, and outcome-centric HR as well as enhanced transparency and accountability in the wider financial ecosystem.

The first edition of the EASE programme pertaining to FY19 aimed at laying the foundation for themes such as customer responsiveness by enabling banking from the comfort of home and mobile and grievance redressal, responsible banking through the setup of dedicated Stressed Assets Management Vertical (SAMV) for rigorous monitoring of large-value stressed loans, improved governance and financial stability through institutionalising risk appetite frameworks and risk based pricing, near-home banking by providing branch equivalent services through Bank Mitras, and enhanced micro-insurance coverage ensuring financial inclusion, and developing personnel for Brand PSBs through initiatives such as the implementation of Performance Management System (PMS).

Bizz Buzz
Next Story
Share it