IBA to steer ‘EASE reforms’ in public sector banks
Indian Banks' Association (IBA) will oversee Enhanced Access and Service Excellence (EASE) reforms in public sector banks along with “door step banking” services. Till now the work being done jointly by consultancy firm Bonston Consultancy Group (BCG) and banking industry lobby group IBA. EASE agenda is aimed at institutionalising clean and smart banking. Its fourth edition – EASE 4.0 - was flagged-off by finance minister Nirmala Sitharaman last month. The first edition — EASE 1.0 -- was launched in January 2018. EASE 3.0, unveiled in February 2020, aimed at enhancing the ease of banking across all customer experiences, employing analytics, technology, and alternate data. IBA has also taken up the reformation of the corporate lending system, dealing with issues like syndicate lending & multiple financing.