TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Push for Bharat Ratna for Dalai Lama

    MPs Across Party Lines Push for Bharat Ratna for Dalai Lama, Urge Joint Parliament Address

    Karnataka: Ganesha Idol Vandalised by Muslim Man in Shivamogga; Hindus Honour Muharram in Yadgir Village

    Karnataka: Ganesha Idol Desecrated in Shivamogga by Muslim Man, While Hindu Village Recreates Muharram in Yadgir

    Urdu Sahitya Academy Faces Eviction in Mumbai

    Decades of Appeasement Under Fire as Urdu Sahitya Academy Faces Eviction in Mumbai

    Why the Thackeray Cousins Have Joined Forces to Protect Their Last Stronghold

    Why Thackeray Cousins Have Joined Forces to Protect Their Last Stronghold: The BMC

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Indian-Origin Tesla CFO Vaibhav Taneja Appointed Treasurer of Elon Musk’s 'America Party'

    Indian-Origin Tesla CFO Vaibhav Taneja Selected Treasurer of Elon Musk’s ‘America Party’

    India’s Forex Reserves Surge Past $700 Billion

    India’s Forex Reserves Surge Past $700 Billion, Close to All-Time Record

    Why GST Search Is Essential For Compliance In Modern Enterprises

    Why GST Search Is Essential For Compliance In Modern Enterprises

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Major Arms Seizure in Manipur Hill Districts

    Amid Ongoing Tensions, Security Operation Yields Major Arms Seizure in Manipur Hill Districts

    military reveals china-pakistan-turkey nexus during operation sindoor

    One Border, Three Adversaries: Indian Army Blasts China-Pakistan-Turkey Axis in Operation Sindoor

    INS Tamal marks the end of import of Indian Warships

    INS Tamal Marks End of Warship Imports as India Sets Sail on Atmanirbhar Bharat Path

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Netanyahu Nominates Trump for Nobel Peace Prize, Calls It ‘Well Deserved’

    Netanyahu Nominates Trump for Nobel Peace Prize, Calls It ‘Well Deserved’

    Pattern of Targeted Attacks on Hindu Temples

    Rising Hate in Bangladesh: Hindu Temple in Barisal Ravaged, Idols of Deities Broken

    Pahalgam Attack Condemned at BRICS

    Pahalgam Attack Condemned at BRICS: India Demands Zero Tolerance on Terror

    Terror Ties Exposed: Pakistan’s Jihad Network Furious at Bilawal’s Extradition Offer

    Terror Ties Exposed: Pakistan’s Jihad Network Furious at Bilawal’s Extradition Offer

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    The Beginning of Devotion: History of the First Kanwar Yatra

    The Beginning of Devotion: History of the First Kanwar Yatra 

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    char dham yatra suspended due to bad weather

    Uttarakhand Suspends Char Dham Yatra Due to Adverse Weather, Prioritizes Pilgrim Safety

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan on July 6

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    say no to alcohol for 6 months

    How Quitting Alcohol for 6 Months Can Transform Your Health

    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    India's Tour of Bangladesh Likely Postponed Amid Political Unrest

    India’s Tour of Bangladesh Likely Postponed Amid Political Unrest

    What Is The Best Way To Bet On Tennis?

    What Is The Best Way To Bet On Tennis?

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Push for Bharat Ratna for Dalai Lama

    MPs Across Party Lines Push for Bharat Ratna for Dalai Lama, Urge Joint Parliament Address

    Karnataka: Ganesha Idol Vandalised by Muslim Man in Shivamogga; Hindus Honour Muharram in Yadgir Village

    Karnataka: Ganesha Idol Desecrated in Shivamogga by Muslim Man, While Hindu Village Recreates Muharram in Yadgir

    Urdu Sahitya Academy Faces Eviction in Mumbai

    Decades of Appeasement Under Fire as Urdu Sahitya Academy Faces Eviction in Mumbai

    Why the Thackeray Cousins Have Joined Forces to Protect Their Last Stronghold

    Why Thackeray Cousins Have Joined Forces to Protect Their Last Stronghold: The BMC

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Indian-Origin Tesla CFO Vaibhav Taneja Appointed Treasurer of Elon Musk’s 'America Party'

    Indian-Origin Tesla CFO Vaibhav Taneja Selected Treasurer of Elon Musk’s ‘America Party’

    India’s Forex Reserves Surge Past $700 Billion

    India’s Forex Reserves Surge Past $700 Billion, Close to All-Time Record

    Why GST Search Is Essential For Compliance In Modern Enterprises

    Why GST Search Is Essential For Compliance In Modern Enterprises

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Major Arms Seizure in Manipur Hill Districts

    Amid Ongoing Tensions, Security Operation Yields Major Arms Seizure in Manipur Hill Districts

    military reveals china-pakistan-turkey nexus during operation sindoor

    One Border, Three Adversaries: Indian Army Blasts China-Pakistan-Turkey Axis in Operation Sindoor

    INS Tamal marks the end of import of Indian Warships

    INS Tamal Marks End of Warship Imports as India Sets Sail on Atmanirbhar Bharat Path

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Netanyahu Nominates Trump for Nobel Peace Prize, Calls It ‘Well Deserved’

    Netanyahu Nominates Trump for Nobel Peace Prize, Calls It ‘Well Deserved’

    Pattern of Targeted Attacks on Hindu Temples

    Rising Hate in Bangladesh: Hindu Temple in Barisal Ravaged, Idols of Deities Broken

    Pahalgam Attack Condemned at BRICS

    Pahalgam Attack Condemned at BRICS: India Demands Zero Tolerance on Terror

    Terror Ties Exposed: Pakistan’s Jihad Network Furious at Bilawal’s Extradition Offer

    Terror Ties Exposed: Pakistan’s Jihad Network Furious at Bilawal’s Extradition Offer

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    The Beginning of Devotion: History of the First Kanwar Yatra

    The Beginning of Devotion: History of the First Kanwar Yatra 

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    char dham yatra suspended due to bad weather

    Uttarakhand Suspends Char Dham Yatra Due to Adverse Weather, Prioritizes Pilgrim Safety

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan on July 6

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    say no to alcohol for 6 months

    How Quitting Alcohol for 6 Months Can Transform Your Health

    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    India's Tour of Bangladesh Likely Postponed Amid Political Unrest

    India’s Tour of Bangladesh Likely Postponed Amid Political Unrest

    What Is The Best Way To Bet On Tennis?

    What Is The Best Way To Bet On Tennis?

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

Nirmala Sitharaman’s flagship EASE project is going to revolutionise Public Sector Banks

Abhishek Kumar Singh by Abhishek Kumar Singh
29 September 2022
in Economy
Nirmala Sitharaman’s flagship EASE project is going to revolutionise Public Sector Banks
Share on FacebookShare on X

Throughout the last few decades, Public Sector Banks have proven to be one of the toughest institutions to breathe enthusiasm into. Neither the top management nor people at the bottom of hierarchy were ready to mend their ways. Apparently, the overhaul requires a massive project. With EASE, Nirmala Sitharam is reviving PSBs like never before.

Big data in banks 

According to a report by The Economic Times, state-run banks are integrating all data sources. Dedicated verticals for big data and analytics are being created. The decision is aimed at infusing a data-driven approach in banking institution’s decision making. Ultimately, a data-driven approach will make it easier to recover loans, detect and mitigate fraud related cases.

RelatedPosts

MPs Across Party Lines Push for Bharat Ratna for Dalai Lama, Urge Joint Parliament Address

Karnataka: Ganesha Idol Desecrated in Shivamogga by Muslim Man, While Hindu Village Recreates Muharram in Yadgir

Netanyahu Nominates Trump for Nobel Peace Prize, Calls It ‘Well Deserved’

Load More

Additionally, the downsizing of digital bureaucracy will assist in availing loans by retail customers and micro, small and medium enterprises. An executive contacted by the newspaper said, “Banks will expand the portfolio of end-to-end digitalised banking services and introduce digital banking solutions for value chain financing,”

Transformation through EASE 

The initiative is a part of reform strategy by the Government of India. It is termed as Enhanced Access and Service Excellence (EASE 5.0). As the name suggests, this initiative was aimed to make it easier for people to access banking services in both big cities and hinterlands of the country. To expedite the process, improving the health of PSBs was the most imminent challenge faced by the Modi government.

The dilapidated state of Public Sector Banks was the worst legacy of UPA 2.O which the Modi government inherited. While PM Modi’s Ministry of Finance inherited 9.6 per cent gross NPAs, the Jaitley led Ministry did well to reduce it to 10.5 percent by the end of 2017-18. Containment was good, but eventually, it had to be brought down to zero so that banks could start lending. Clearly, a coherent policy which could solve ground-level problems was required. True, IBC and other initiatives to prevent the crisis from escalating were present, but devolution of money to the last entrepreneur is always the need of the hour.

EASE 1.0 lessened the burden of NPAs

Keeping aforementioned points in mind, the Modi government launched EASE reforms in 2018. The government knew that the dilapidation of PSBs took some time to come, so they planned to improve their health in a phase wise manner. In the EASE 1.0, the Finance Ministry decided to focus solely on minimising the NPA crisis in the country. Within a few months, a drastic change in the percentage of NPAs was witnessed. 

EASE 2.0 was remarkable

To measure the progress made on these metrics, an EASE reform index was launched. The index was based on 120+ objective metrics in addition to the aforementioned themes. Currently, the index combines more than 140 metrics. On this index, Banks scored 49.2 out of 100. Encouraged by the result, the government launched EASE 2.0

In many ways, EASE 2.0 was the first stepping stone towards fulfilling the original goal of introducing EASE, which was to make banking easier for the population. The second phase focussed on Responsible Banking; including Customer Responsiveness, Credit Off-take, PSBs as UdyamiMitra (SIDBI portal for MSMEs’ credit management), Financial Inclusion & Digitalisation, and Governance and HR.

In many ways, EASE 2.0 was the first stepping stone towards fulfilling the original goal of introducing EASE, which was to make banking easier for the population. The second phase focussed on Responsible Banking; including Customer Responsiveness, Credit Off-take, PSBs as UdyamiMitra (SIDBI portal for MSMEs’ credit management), Financial Inclusion & Digitalisation, and Governance and HR.

The results were satisfactory to say the least. 140 per cent increase in financial transactions through mobile and Internet banking channels was observed. Despite an increase in the offline services made available by PSBs, the adaptability of Internet banking increased. Banks also increased the number of their dedicated marketing employees which made consumers aware about products offered by the company.  Bank of Baroda, State Bank of India, and erstwhile Oriental Bank of Commerce turned out to be major performers. Average score by Banks increased from 49.2 in EASE 1.0 to 67.4 in EASE 2.0.

Also Read: Best news of 2021: Indian Banks have finally weeded out the NPA mess

Ease 3.0 was Ram Setu 

If EASE 2.0 was a stepping stone, EASE 3.0 became the Ram Setu of digitalisation of banking ecosystem. The third phase was aimed towards tech-enabled banking. Nirmala Sitharaman led Ministry aimed at paperless and digitally-enabled banking. The theme included responsible banking, PSBs as Udyami Mitra, customer responsiveness, credit take-off, and deep financial inclusions.

The initiative enabled nearly 4.4 lakh customers to benefit through simplified credit access. In the FY2021, digitalisation helped generate loan leads worth of Rs 40,819 crore. Availability of call centres, Internet banking, and Mobile banking in 14 languages played a major role in it. The portfolio included fresh personal, home and vehicle loans. Not only through loans, but digitalisation of PSBs also helped in increasing the value of digital transactions in PSBs. 72 per cent of PSB transactions were found to be taking place through digital channels.

Authority along with responsibility in EASE 4.0

After securing Internet penetration, the Finance Ministry moved on towards making services more inclusive under EASE 4.0. It aimed tech-enabled, simplified, and collaborative banking. Under it, the Finance Ministry targeted new-age 24×7 banking with resilient technology. Additionally, focus on increasing banking services in the North-East was also a key theme of EASE 4.0.

Moreover, now that Banking was in health, Finance Minister Nirmala Sitharaman found it fitting to kick off the process of giving licences to Bad Bank. Bad Bank would buy all bad loans and other illiquid holdings. The proposal of sucking up remaining NPA pressure provided leeway for allowing the banks to raise funds from outside the Banking sector.

The relaxation to PSBs did not come in vacuum as they were asked to participate in India’s development trajectory. They are now required to contribute to the ‘one district, one export’ agenda. All banks have now come out of RBI’s Prompt Corrective Action (PCA). Now banks are not reluctant to lend which is manifested in their credit numbers as well.

4 stages of EASE reforms have enabled PSBs to invest in new-age capabilities. It is like a dream come true for them since lots of them were merged to improve efficiency. Now, there is a need to privatise them. For that, a radical change in efficiency was needed and it arrived in the form of EASE reforms. Maybe, the need for privatisation will be eliminated altogether.

Support TFI:

Support us to strengthen the ‘Right’ ideology of cultural nationalism by purchasing the best quality garments from TFI-STORE.COM

Also Watch:

ShareTweetSend
Previous Post

First Hungary, then Sweden and now Italy – The rise of right wing in Europe and the imminent end of European Union

Next Post

Shivraj Singh Chauhan has served long enough to be remembered as a hero, a graceful exit will be fitting

Related Posts

Indian-Origin Tesla CFO Vaibhav Taneja Appointed Treasurer of Elon Musk’s 'America Party'
Business

Indian-Origin Tesla CFO Vaibhav Taneja Selected Treasurer of Elon Musk’s ‘America Party’

7 July 2025

In a notable recognition of Indian talent on the global stage, Vaibhav Taneja, Tesla’s Indian-origin Chief Financial Officer, has...

India’s Forex Reserves Surge Past $700 Billion
Economy

India’s Forex Reserves Surge Past $700 Billion, Close to All-Time Record

5 July 2025

In a significant boost to India’s external financial position, the country’s foreign exchange reserves surged by $4.84 billion to...

Why GST Search Is Essential For Compliance In Modern Enterprises
Business

Why GST Search Is Essential For Compliance In Modern Enterprises

3 July 2025

A business environment demands transparency and accuracy, and staying compliant with tax regulations is more than just ticking a...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Siddaramaiah Sparks Vaccine Theory to Hide Congress Chaos?

Siddaramaiah Sparks Vaccine Theory to Hide Congress Chaos?

00:09:21

Murugan Wave Rattles INDIA Bloc, Triggers Reactionary Meet in Madurai

00:08:10

Rage on stage: why a police officer resigned quit after CM's outburst

00:03:40

Right to religion vs duty to identify: where should India draw the line?

00:04:34

Junior Kharge Calls to Ban RSS Amid Karnataka Congress Civil War!

00:10:02
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited