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Finance Ministry launches EASE 5.0 ‘Common Reforms Agenda’ for PSBs

Published on June 10, 2022
Current Context: Finance Minister Nirmala Sitharaman has unveiled that the EASE 5.0 EASENext is well-positioned to channel reforms with a specific focus on customer-centric initiatives.
Finance Ministry launches EASE 5.0 ‘Common Reforms Agenda’ for PSBs
  • Ease 5.0 ‘Common reforms agenda’ of the EASENext program has been developed for Public Sector Banks and was launched through video-conferencing.
  • It has evolved over four annual editions from FY19 to FY22 and has catalyzed reforms in diverse areas in Public Sector Banks.
  • EASENext would comprise 2 major initiatives: EASE 5.0 common PSB reforms agenda and Bank specific strategic 3-year roadmap based on individual bank’s business priorities.
  • It will help to invest in new-age capabilities and deepen the ongoing reforms to respond to evolving customer needs, changing competition, and the technology environment.
  • This will act as a dual role as these reforms should bring ease for customers as well as for employees.
  • Apart from that it provided a specific focus on customer-centric initiatives and emphasized customer-first strategy and focuses on employee development.

Question:

Q.1 EASENext has been designed for which of the following sector?
a. Public Sector Bank
b. Export-Import
c. FDI inflows
d. Infrastructure Development
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