EASE 3.0 Reforms For Public Sector Banks – Free PDF Download

BACKGROUND

• PSB Reforms EASE Agenda is a common reform agenda for PSBs aimed at institutionalizing clean and  smart banking.
• It was launched in January 2018.
• Subsequent edition of the program ― EASE 2.0 built on the foundation laid in EASE 1.0 and furthered the progress on reforms.
• 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.

• Finance Minister Nirmala Sitharaman launched the EASE (Enhanced Access & Service Excellence) 3.0 reform agenda.
• EASE 3.0 agenda aims at providing Smart, Tech-enabled public sector banking for aspiring India.
• This launch of EASE 3.0 would change the customer’s experience at the Public Sector Banks.
• New features that customers of public sector banks may experience under EASE 3.0 reforms agenda include facilities like:

1. Palm Banking for “End-to-end digital delivery of financial  service”.
2. “Banking on Go” via EASE banking outlets at frequently  visited spots like malls, stations, complexes, and campuses.

THE IDEA BEHIND EASE 3.0 AGENDA

• 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-

1. Responsible banking,
2. PSBs as Udyami Mitra,
3. Customer responsiveness,
4. Credit take-off,
5. Deep financial inclusions.

PERFORMANCE OF PSB ON EASE 2.0 INDEX

OUTCOMES

• Gross NPAs reduced from Rs 96 lakh crore (14.6%) in March-2018 to Rs 7.17 lakh crore (11.3%) in December-2019;
• A sharp decline in fraud occurrence from 65% of advances during FY10-FY14 to 0.20% in FY18-FY20.
• Record recovery of Rs 2.04 lakh crore in FY19-FY20.
• Number of PSBs under PCA down to 4.
• 12 PSBs reporting profits in FY20.

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