EASE 7.0: Catalyzing India's Banking Revolution

EASE reforms have significantly supported public sector banks in their mission to advance the Viksit Bharat vision. These reforms have enhanced outreach to MSMEs, bolstered sectoral capabilities, and improved credit access, according to Atul Kumar Goel, Chief Executive of the Indian Banks' Association.

Public sector banks have accelerated their readiness for GenAI, implementing pilot projects, and adopting digital models to optimize operations. These efforts have also enhanced data governance, analytics, and cloud adoption to improve efficiency and quality, Goel shared via posts on X.

Operational advancements include strengthening systems against cyber risks, accelerating NPA recovery processes, and improving employee productivity through strategic target-setting and performance appraisals. The EASE 7.0 reforms highlight a customer-first approach, robust risk management, and capabilities that align with India's developmental priorities.

(With inputs from agencies.)