Finance Minister Launches EASE 4.0, Reviews Performance Of PSBs: Highlights

EASE 4.0 Highlights: Finance Minister Nirmala Sitharaman conducted the annual performance review of public sector banks (PSBs) on Wednesday, August 25, and unveiled EASE 4.0 (Enhanced Access and Service Excellence) aimed at institutionalizing a clean and smart banking system

Finance Minister Launches EASE 4.0, Reviews Performance Of PSBs: Highlights

Nirmala Sitharaman LIVE: EASE 4.0 is aimed at institutionalizing clean banking system

Finance Minister Nirmala Sitharaman launched the EASE 4.0 -  Enhanced Access and Service Excellence - a common reform agenda for Public Sector Banks (PSBs) aimed at institutionalizing clean and smart banking.

Finance Secretary Debashish Panda announced that the contribution of employer (public sector banks) in the National Pension Scheme (NPS) for employee pensions is hiked to 14 per cent from the earlier 10 per cent. He added that the family members of those PSB bankers who lost their lives, will now get a pension of 30 per cent of the last drawn salary as against the earlier Rs 9,284.

Revenue Secretary Tarun Bajaj announced that overseas direct listing is under consideration and that the government may announce rules allowing companies to list overseas in the next budget in February 2022.

Through legislative amendment, the government is trying to ensure smooth trading of securities outside India, added Mr Bajaj. (Also Read: Government May Announce Overseas Listing Rules In Next Budget: Official )

EASE 3.0 was launched in February 2020, which was aimed at enhancing the ease of banking in all customer experiences, using technology, alternate data, as well as analytics. The 1st edition EASE 1.0 was launched in January 2018. 

On her two-day visit to Mumbai, Finance Minister conducted the annual performance review of public sector banks for the financial year 2020-21 today, with the heads of all PSU banks.

Aug 25, 2021 15:12 (IST)
Nirmala Sitharaman Live: PSBs now raising their own resources
Public sector banks are now raising their own resources after gaining investor confidence, over Rs 12,000 crore of fund raising in the process, said Finance Secretary Debashish Panda
Aug 25, 2021 15:09 (IST)
Nirmala Sitharaman Live: Duties on edible oils, pulses have been cut
''We have cut duties on edible oils and pulses to increase supply, our estimation is that inflation will be in the 4-6 per cent band'': Revenue Secretary Tarun Bajaj
Aug 25, 2021 15:00 (IST)
Nirmala Sitharaman Live: India may announce overseas listing rules in next budget
India may announce rules allowing companies to list overseas in the next budget in February 2022, as some issues are yet to be resolved and are under discussion, said Revenue Secretary Tarun Bajaj today.
Aug 25, 2021 14:53 (IST)
Nirmala Sitharaman Live: 40% rise in contribution of banks in NPS
There will also be 40 per cent rise in contribution of employer (banks) in NPS. It will go up from 10 per cent to 14 per cent, said Finance Secretary. This means that PSBs' contribution for employee pensions under NPS hiked to 14 per cent from 10 per cent.
Aug 25, 2021 14:52 (IST)
Nirmala Sitharaman Live: Details of EASE 4.0 benefits
Proposal for enhancement of family pension and employer's contribution under the NPS is approved by Finance Minister. The benefits would now accrue to family pensioners. The cap on pay is removed and uniform slab of 30 per cent will be in force. Pension can go as high as Rs 35,000, said Finance Secretary Debashish Panda
Aug 25, 2021 14:49 (IST)
Nirmala Sitharaman Live: Credit reach of districts
There will be credit outreach efforts by banks in every district of this country to keep momentum of stimulus, starting from October, said Finance Minister Nirrmala Sitharaman 
Aug 25, 2021 14:39 (IST)
Nirmala Sitharaman Live: Amalgamation of banks has not suffered
Despite the customer requirements during COVID-19 pandemic, work of amalgamation of banks has not suffered, said Finance Minister Nirmala Sitharaman
Aug 25, 2021 14:27 (IST)
Nirmala Sitharaman Live: Exports needs of Northeaster states needs to be looked affter
''Logistics, export needs of North Eastern states needs to be looked after individually.  As Prime Minister has suggested banks need to cater to demand of organic fruit sector of North east, market reach for north eastern products,'' said Finance Minister Nirmala Sitharaman.
Aug 25, 2021 14:25 (IST)
Nirmala Sitharaman Live: Fintech sector can provide technological help to banks
''From inputs given by  officers from Tax administration, it emerged that Banks need to understand the special requirements of Sunrise sector. e.g. Fintech, one such sector can provide technological help to banks as well as can benefit from help from banking sector,'' said Finance Minister Nirmala Sitharaman
Aug 25, 2021 14:19 (IST)
Nirmala Sitharaman Live: One district One Product
Banks can play a crucial role by hand-holding industries from a particular sector to enable them to become an exporter and thereby play an important role in assisting One district one Product scheme suggested by Prime Minister, said Finance Minister Nirmala Sitharaman
Aug 25, 2021 14:17 (IST)
Nirmala Sitharaman Live: Banks to interact regularly with exporters
Banks have been directed to interact regularly with Federation of Indian Exporters Organisation so the exporters don't have to shuttle between various bankers, said Finance Minister.
Aug 25, 2021 14:10 (IST)
Nirmala Sitharaman Live: Finance Minister Launches EASE 4.0
Finance Secretary Debashish Panda announces details of EASE 4.0 benefits for employees and employers
Aug 25, 2021 14:08 (IST)
Nirmala Sitharaman Live: All PSBs have done well
All banks have collectively done well, all banks have come out of PCA, said Nirmala Sitharaman
Aug 25, 2021 14:07 (IST)
Nirmala Sitharaman Live: CASA deposits piling up in eastern states
In eastern states, Bihar, WB, Jharkhand, CASA deposits are piling up, so banks should provide facilities to provide credit flow for business development in these regions, said Finance Minister
Aug 25, 2021 14:05 (IST)
Nirmala Sitharaman Live: Fintech sector requires banking assistance
Fintech as a sector requires a lot of assistance, from the banks: Finance Minister Nirmala Sitharaman
Aug 25, 2021 14:04 (IST)
Nirmala Sitharaman Live: Requested PSBs to interact with state governments
Requested public sector banks to interact with state governments as well, said Finance Minister
Aug 25, 2021 14:01 (IST)
Nirmala Sitharaman Live: Finance Minister requested PSBs to interact with export industries
Requested public sector banks to interact with export oriented industries, said Finance Minister Nirmala Sitharaman
Aug 25, 2021 13:59 (IST)
Nirmala Sitharaman Live: Finance Minister addressing press conference now
Aug 25, 2021 13:54 (IST)
Nirmala Sitharaman Live: Press conference by Finance Minister to begin shortly
Aug 25, 2021 13:49 (IST)
Nirmala Sitharaman Live: EASE 3.0 awards given to these PSBs
Aug 25, 2021 13:48 (IST)
Nirmala Sitharaman Live: Finance Minister gave EASE 3.0 awards to best performing PSBs
Finance Minister Nirmala Sitharaman handed over EASE 3.0 Awards to Canara Bank, Punjab National Bank, Indian Bank, Union Bank of India, Bank of Baroda and State Bank of India for their achievements in clean and smart banking
Aug 25, 2021 13:46 (IST)
Nirmala Sitharaman Live: Finance Minister unveiled EASE 3.0
Aug 25, 2021 13:45 (IST)
Nirmala Sitharaman Live: Finance Minister unveiled EASE 3.0 Report
Finance Minister unveiled the Enhanced Access and Service Excellence (EASE) 3.0 Report and gave EASE 3.0 Awards to best performing public sector banks in Mumbai
Aug 25, 2021 13:37 (IST)
Nirmala Sitharaman Live: Finance Minister to unveil EASE 4.0
Enhanced Access and Service Excellence or EASE, is a a common reform agenda for Public Sector Banks (PSBs) aimed at institutionalizing clean and smart banking.
Aug 25, 2021 13:28 (IST)
Nirmala Sitharaman Live: Here's how you can listen to the press conference
Aug 25, 2021 13:26 (IST)
Nirmala Sitharaman Live: Finance Minister to address press conference at 1:30 pm
Finance Minister Nirmala Sitharaman will address a press conference at 1:30 pm and interact with the media.
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