- The State Bank of India (SBI) topped the rankings and was adjudged as the “Best Bank” for adopting the reforms that are prescribed for the Public Sector Banks (PSBs).
- The Union Bank of India (UBI) was ranked second while the Bank of Baroda (BOB) was ranked third in the index.
- The following six parameters were considered for ranking the 12 PSBs:
- Customer Responsiveness
- Responsible Banking
- Credit Off-take
- UdaymiMitra for MSMEs
- Deepening Financial Inclusion & Digitalization
- Ensuring Outcomes- Governance/HR
- EASE (Enhanced Access and Service Excellence) Index was launched in 2018 under the EASE Reform Agenda and measures the performance of PSBs on over 120 metrics across 6 parameters and 5 themes.
- The Indian Bank Association (IBA) was established in 1946 with its headquarters in Mumbai. The current CEO of the company is Sunil Mehta.
Question:
Q.1 Which Public Sector Bank topped the “EASE Reform Index for the First Quarter of FY23”?a. SBI
b. UBI
c. BOB
d. PNB
