Finance Minister launches EASE 4.0

Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, launched the fourth edition of Public Sector Bank (PSB) Reforms Agenda called ‘EASE 4.0’ for the financial year 2021-22.

Key Facts

  • It is a simplified, tech-enabled and collaborative banking.
  • On the occasion, finance minister launched the annual report for PSB Reforms Agenda EASE 3.0 for the year 2020-21 and also witnessed the awards ceremony to felicitate the best performing banks on EASE 3.0 Banking Reforms Index.

Best performing banks on EASE 3.0

  • SBI, Bank of Baroda (BoB), and Union Bank of India (UBI) won the awards for best performing banks on the basis of EASE index.
  • Indian Bank won the award for best improvement from baseline performance.
  • SBI, BoB, UBI, Punjab National Bank and Canara Bank also won the top awards across different themes of PSB Reforms Agenda EASE 3.0.

Reforms under EASE 4.0

EASE 4.0 reforms look after four key initiatives to be adopted by public sector banks:

  1. Smart lending backed by analytics
  2. 24×7 banking with resilient technology & cloud-based IT systems
  3. data enabled agriculture financing and
  4. Collaboration with the financial ecosystem.

How PSB will enable smart lending?

In order to enable the smart lending under EASE 4.0, PSBs are required to design and improve performance of loan initiation processes by simplifying it on the basis of standard operating procedures and time-bound actions. They are also required to introduce end-to-end digitised loans for new customers.  They will have to broaden customer base and increase credit off-take by means of analytics and technology-driven credit offers.


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