Public Sector Banks Perform Well On EASE Index

Union Minister of Finance & Corporate Affairs Nirmala Sitharaman stated that Public Sector Banks or PSBs have shown a healthy trajectory in their performance over four quarters since the launch of EASE 2.0 Reforms Agenda. The overall score of PSBs increased by 37% between March-2019 and March-2020, with the average EASE index score improving from 49.2 to 67.4 out of 100. Significant progress is seen across six themes of the Reforms Agenda, with the highest improvement seen in the themes of' Responsible Banking', 'Governance and HR', 'PSBs as Udyamimitra for MSMEs', and 'Credit off-take'. A common reform agenda for PSBs, EASE Agenda is aimed at institutionalizing clean and smart banking. It was launched in January 2018, and the subsequent edition of the program ― EASE 2.0 built on the foundation laid in EASE 1.0 and furthered the progress on reforms.

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