Enhanced Access and Service Excellence (EASE 4.0) was introduced by Finance Minister Nirmala Sitharaman at a press conference in Mumbai. The initiative is aimed at institutionalizing clean and smart banking in public sector banks.

Enhanced Access and Service Excellence (EASE 4.0) was introduced by Finance Minister Nirmala Sitharaman at a press conference in Mumbai. The initiative is aimed at institutionalizing clean and smart banking in public sector banks.

Since things have changed, businesses may now raise money from sources other than banks. To support their operations, banks must raise money in a number of different ways. Credit must be targeted where it is required, and these new elements must be examined.”

For her part, Sitharaman said that banks must provide assistance for the fintech and other emerging sectors, and that she has requested the PSBs to do so.

Banks must comprehend the unique requirements of the Sunrise industry, according to the information provided by Tax Administration authorities. Fintech, for example, is a sector that can both provide banks with technical assistance and gain from it,” the finance minister stated during a news conference.

It was announced in January 2018 that Convenience 1.0 would be released, and in February 2020, EASE 3.0 would be presented, both with the goal of improving the ease of banking for all customers by using analytics, technology, and alternate data.