Question
Download Solution PDFWhich of the following statement/statements is/are valid in connection with Enhanced Access and Service Excellence (EASE) Reforms?
I. EASE Reforms are governed by a board of directors, who are heads of premier Financial Institutions in India.
II. EASE Next programme had just one (01) priority the Common Reforms Agenda.
III. Delivering excellence in customer service with digital enablement is one of the four themes conceptualized as part of EASE 6.0.
IV. EASE Reforms are intended for both Public Sector Banks (PSBs) as well as NBFCs.
Select the correct answer using the codes. given below:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- Enhanced Access and Service Excellence (EASE) Reforms are aimed to make public sector banks (PSBs) competitive, responsive, and digitally enabled.
- EASE 6.0 has four themes, one of which is delivering excellence in customer service with digital enablement.
- The reforms focus solely on Public Sector Banks (PSBs) and are not intended for NBFCs.
- EASE Next program focuses on multiple priorities, not just one.
Additional Information
- Enhanced Access and Service Excellence (EASE) Reforms:
- Launched by the Indian government to enhance the performance of Public Sector Banks (PSBs).
- The reforms aim to make PSBs competitive, responsive, and digitally enabled.
- They focus on various areas such as customer responsiveness, responsible banking, credit off-take, PSB as UdyamiMitra (partner in business), deep financial inclusion, and digitalisation.
- EASE 6.0:
- It is part of the EASE reforms agenda and builds upon the previous versions.
- It includes four themes: Digitally-enabled customer offerings, Big data analytics, Integration with the financial ecosystem, and Modernising banking systems.
- It aims to improve the ease of banking, enhance customer experience, and provide a robust infrastructure for banking operations.
- Public Sector Banks (PSBs):
- These are banks where the majority stake is held by the government.
- They play a crucial role in the Indian financial system, providing banking services to a large section of the society.
- Non-Banking Financial Companies (NBFCs):
- These are financial institutions that offer banking services without meeting the legal definition of a bank.
- They provide loans, credit facilities, retirement planning, and investment products.
- NBFCs are not included in the EASE reforms, which are specifically designed for PSBs.
Last updated on Jun 18, 2025
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