Nirmala Sitharaman Launches EASE 4.0 For Institutionalising Smart BankingTop Stories

August 25, 2021 15:38
Nirmala Sitharaman Launches EASE 4.0 For Institutionalising Smart Banking

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Union Finance Minister Nirmala Sitharaman launched Enhanced Access and Service Excellence which is named EASE 4.0. This is a common agenda for the public sector banks that are aimed at smart banking. The first edition EASE 1.0 was launched in January 2018 and EASE 3.0 was launched in February 2020. EASE 4.0 uses technology, analytics and alternate data. Nirmala Sitharaman is on a visit to Mumbai for a two-day visit and she is in the city to review the annual performance of the public sector banks for the financial year 2020-21.

Nirmala Sitharaman requested the public sector banks to have an interaction with the export industries and the state governments. The field of Fintech needs a lot of assistance from the banks told Nirmala Sitharaman. "The CASA deposits are heaping up in states like West Bengal, Bihar and Jharkhand. the banks should provide the facilities to provide the credit flow for the business in these states. All the banks are doing well and they came out of PCA. The banks can now interact regularly with the Federation of Indian Exporters Organization. Banks should understand the requirements of the Sunrise sector. They are taken from the officers of the Tax administration" told Nirmala Sitharaman.

By Siva Kumar

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Nirmala Sitharaman  EASE 4.0