Public Sector Bank customer? Your banking experience may change soon

By: |
February 26, 2020 6:12 PM

Your experience with Public Sector Banks (PSBs) is likely to undergo a massive change in the near future with the implementation of EASE 3.0 reform agenda, which was launched by Finance Minister Nirmala Sitharaman today.

US satellite broadband provider Hughes Network Systems, thousand of banking services in India may disrupt, hughes unpaid issue, telecom ministry, supreme court, vodafone indiaEASE 3.0 agenda aims to provide advanced solutions that will make the public sector banking smart and technology-enabled.

Your experience with Public Sector Banks (PSBs) is likely to undergo a massive change in the near future with the implementation of EASE 3.0 reform agenda, which was launched by Finance Minister Nirmala Sitharaman today. EASE (Enhanced Access and Service Excellence) 3.0 agenda aims to provide advanced solutions that will make the public sector banking smart and technology-enabled.

In the annual report “Reforms Agenda FY21 and EASE 3.0 released by Sitharaman, the government has listed out major changes ahead that will reform the existence of Public Sector Banks. Some of the new features that customers of public sector banks may experience under EASE 3.0 reforms agenda include 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 malls, stations, complexes and campuses. Within this, the Ministry’s idea is to establish paperless and digitally-enabled banking at places where people visit the most.

Digitalising the experience at public sector bank branches is also on the cards under EASE 3.0.

The government aims to focus on digitalisation in the Public Sector Banks (PSBs) among six themes that include responsible banking, customer responsiveness, PSBs as Udyami Mitra, credit take-off and deep financial inclusions.

Finance Secretary Rajeev Kumar tweeted today that the government is trying to overhaul the customer experience with the introduction of features like Dial-a-loan, credit at a click or other analytics-based credit offers.

“FM launches #EASE3.0 for smart & tech-enabled banking. Digital & data-driven #PSBs to enhance EASE of banking through use of FinTech, AI & analytics. Overhauled customer experience with Dial-a-loan, Credit@click, & analytics-based credit offers,” Kumar tweeted.

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.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Mutual Funds: Reaping benefits of SIP in a market rally
2Your Money: Pvt life insurers see low growth in Dec premium
3Electronic pension payment order promises ease of living for senior citizens: Jitendra Singh