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FM asks PSBs to be friendlier to customers

 

By TIOL News Service

NEW DELHI, FEB 27, 2020: THE Union Minister for Finance & Corporate Affairs, Ms. Nirmala Sitharaman, yesterday unveiled EASE 3.0, the Public Sector Bank (PSB) Reforms Agenda 2020-21 for smart, tech-enabled banking , and the PSB EASE Reforms Annual Report 2019-20 here yesterday.

Finance Minister exhorted Public Sector Banks (PSBs) to have one-to-one interface with their customers through branch based banking and not rely so much on credit ratings agencies. She said that banks need to connect with their customers by leveraging technology but not exclusively only through the interface of technology. In her address on the occasion, the Finance Minister asked the bankers to focus  more at the grassroot level.

Ms. Sitharaman further exhorted banks to be friendlier to its customers by using local language in bank branch. She said that PSBs have played a great role in enabling financial inclusion in the country.

EASE 3.0 seeks to enhance ease of banking in all customer experiences, using technology, Finance Minister Ms. Nirmala SitharamanFinTech, alternate data and analytics. Dial-a-loan for doorstep loan facilitation, Credit@click for end-to-end digitalised lending, on-the-spot EASE Banking Outlets at well-frequented places like malls and stations , palm banking, digitalised branch experience, analytics-based instant credit offers, cash-flow-based credit and tech-enabled agriculture lending are part of a wide array of tech-enabled ease enhancements that PSBs would effect during FY2020-21.

 


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