Public sector banks (PSBs) have accelerated GenAI readiness and applied pilot use circumstances, strengthened knowledge governance and analytics, adopted cloud for scalable operations, and enabled digital working fashions for price effectivity and high quality, he mentioned in a collection of posts on X.
On the identical time, the Indian Banks’ Affiliation chief mentioned, banks have strengthened methods for operational and cyber danger, fast-tracked NPA restoration through streamlined processes, digitised collections, and enhanced monitoring with deeper credit score & market danger insights.
The reforms have helped PSBs enhance their worker productiveness by scientific target-setting, efficiency value determinations, gender range focus, data-driven workforce deployment and succession planning, and personalised studying and growth, he added.
Banks are additionally placing efforts to boost buyer expertise throughout banking channels, strengthen relationships, and streamline processes to enhance comfort and repair supply, he added.
PSU banks have lengthy been on the forefront of driving the nation’s financial growth and increasing the attain of economic providers to underserved segments, the EASE 7.0 Annual Report launched on Thursday mentioned.Constructing on this legacy, EASE 7.0 marks a defining part within the ongoing transformation of PSBs, it added.Designed as a strategic initiative to align banking operations with India’s evolving developmental priorities, this version of the EASE reforms for FY25 emphasises a robust customer-first strategy, strong danger administration practices, and the event of capabilities that equip PSBs to fulfill the calls for of a quickly altering monetary panorama, it mentioned.
EASE 7.0 has led to important developments within the operational infrastructure of PSBs and bolstered their position as Catalysts of inclusive and sustainable financial progress, it added.