Ease 4.0 (Enhanced Access and service Excellence) is launched on 25th August 2021 by Finance Minister Nirmala Sitharaman. It is a reform agenda for Public Sector Banks to institutionalise clean and smart banking for the financial year 2021-22. It’s first edition EASE 1.0 was launched in January 2018 and EASE 3.0 was launched in February 2020.Based on EASE Index report State Bank of India, Bank of Baroda and Union Bank of India won the best performer award under Public Sector Banks reforms EASE 3.0.

What is the objective of EASE 4.0?

EASE 4.0 aim is improve banking sector by using technology, alternative data and analytics.

This reform will allow to get more information about agriculture loan.This will benefit the farmers to get loan easily.

Central government main objective is to provide maximum loans to rural areas.

To implement the technology facility of 24×7 banking.

Public Sector Banks need to align the internal process to deliver digital service.

Agenda is to push towards customer centric digital transformation.

Public Sector Banks will focus on promoting offers to existing retail customer s like EMI offers on e-commerce purchasing, existing MSME customer s and pre approved car loans.

To improve banking service banking sectors need to focus on Fintech sector which can provide technological help to banks.