What’s in news?
“Enhanced Access and Service Excellence (EASE) 3.0” has been launched by Finance Minister Nirmala Sitharaman along with the EASE 2.0 Annual Report at Indian Banks’ Association function.
- EASE 3.0 is expected to provide advanced solutions to make the public sector banking smart and technology-enabled.
- Some key facilities like Palm Banking for “End-to-end digital delivery of financial service”, “Banking on Go” via EASE banking outlets at frequently visited spots like campuses, stations, complexes and malls will be provided by the EASE 3.0 reforms agenda.
- It also aims to digitize the customer’s experience at public sector bank branches.
- The EASE 3.0 reforms agenda commits the PSBs to smart, tech enabled banking. Dial-a-loan for doorstep loan facilitation and digitalised branch experience are some of the elements on the agenda.
Idea behind EASE 3.0 agenda:
- The Ministry has the idea of establishing paperless and digitally-enabled banking at places where people visit the most.
- The government aims to focus on digitalization in the Public Sector Banks (PSBs) among themes that include responsible banking, PSBs as Udyami Mitra, customer responsiveness, credit take-off, and deep financial inclusions.
- Government is trying to overhaul the customer experience with the introduction of features like Dial-a-loan, credit at a click, alternate-data-based lending or other analytics-based credit offers.
- In EASE 2.0, the government had proposed pushing liquidity in the public sector banks, reconstituting the management committee and possible mergers among the ideal partners in the Indian banking sector.
Access and Service Excellence
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