Co-lending with NBFCs under Ease 4.0 reforms

27 Aug

The Finance Minister Nirmala Sitharaman today launched the EASE 4.0 – Enhanced Access and Service Excellence – a common reforms agenda for Public Sector Banks (PSBs) for the financial year 2021-22 which is aimed at institutionalising clean and smart banking.
Co-lending with nonbanking finance companies (NBFCs), digital, agriculture financing, and technological resilience for 24×7 banking are expected to be part of Ease 4.0 Index, a reform agenda for 2021-22 for public sector banks, people with knowledge of the matter said.
Launched in January 2018, Enhanced Access and Service Excellence (Ease) is the common reform agenda for all public sector banks (PSBs) aimed at institutionalizing clean and smart banking.
Here, the PSBs would be rated on various indexes for the year and this year PSBs will focus on introducing and promoting new analytics-based offers to existing retail customers like pre-approved car loans, EMI offers on e-commerce purchases and also for existing micro, small and medium (MSME) customers