EASE 5.0 Reforms Agenda: Important Facts

Enhanced Access and Service Excellence (EASE) has evolved over 4 annual editions starting from FY 2019 to FY 2022 and has also set the motion for reforms in various areas in Public Sector Banks (PSBs).

The EASENext program has been developed keeping in mind which organizations?

  • EASENext program’s EASE 5.0 ‘Common reforms agenda’ has been developed for PSBs and was launched via video-conferencing by Nirmala Sitharaman, India’s Minister of Finance and Corporate Affairs.
  • This event was attended virtually by CEOs, Managing Directors, and other senior executives of various Public Sector Banks.

What is the EASENext Program?

The EASENext program comprises two major initiatives:

  • A bank-specific 3-year strategic roadmap (based on the business priorities of an individual bank)
  • The EASE 5.0 ‘common PSB reforms agenda’

What is the EASE 5.0 program?

Under this program, the PSBs will be continuing to invest in new-age capabilities and will deepen the ongoing reforms with the aim of responding to:

  • changing competition
  • evolving customer needs
  • technology environment.

This program will be focusing on:

  • inclusive and integrated banking
  • digital customer experience

Emphasis will be given under this program to support agriculture and small businesses.

What will be done under the 3-year strategic roadmap?

All PSBs will be creating a 3-year bank-specific strategic roadmap. Under this roadmap, strategic initiatives will be entailed beyond the EASE 5.0. The initiatives will be spread across various themes such as:

  • profitability
  • business growth
  • customer service
  • risk
  • capability building
  • operations

What were the other EASE programs about?

  • EASE 1.0: This report highlighted that there was significant improvement in the performance of PSBs in Non-Performing Assets (NPAs) resolution in a transparent manner.
  • EASE 2.0: New reform action points were released under this across six themes which are Customer Responsiveness; Responsible Banking; Digitization and Financial Inclusion; PSBs as UdyamiMitra; and Governance and Human Resource (HR).
  • EASE 3.0: Under this, ease of banking customer experiences was enhanced using various technologies. Partnerships were also signed with various E-commerce and FinTech companies.
  • EASE 4.0: This was done to commit the PSBs to simplified, tech-enabled, and collaborative banking to boost digital transformation that will be customer-centric.

When was the EASE agenda launched?

The EASE Agenda was launched in the year 2018 jointly by the PSBs as well as the government. The agenda was commissioned via the Indian Banks’ Association and was authored by the Boston Consulting Group.

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