One market place for Public Sector Bank loans

Ministry of Finance

Posted On: 24 JUL 2018 4:02PM by PIB Delhi

A reforms agenda based on recommendations made by Whole-Time Directors and senior management of Public Sector Banks (PSBs) has been referred by the Government to PSBs for action as per approval by the bank’s Board. This reforms agenda aimed at Enhanced Access & Service Excellence (EASE), encapsulates a synergistic approach to ensuring prudential and clean lending, better customer service, enhanced credit availability, focus on Micro, Small and Medium Enterprises (MSMEs), and better governance.

Reforms in the agenda inter alia include enhanced ease of financing for MSMEs through financial technologies (FinTech), automated processing of MSME proposals through www.udyamimitra.in, online application facility & automated decision for all micro enterprise loans, banking from home and mobile for enhanced customer comfort, promoting digital banking etc.

In furtherance of EASE, PSBs assess technology solutions including FinTech based solutions on an ongoing basis.

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha.

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