Union Bank of India ranked 3rd amongst 12 PSBs in EASE 4.0 Reforms Index for Q1 FY22, as per the rank list released by Indian Banks’ Association (IBA). The bank has been actively adopting the reforms initiatives recommended under the EASE Agenda enabling it to retain the overall position of Second Runner Up from the last three consecutive quarters since December 2020.
Union Bank of India also recorded stellar performance under four out of six themes in the Agenda. Union Bank of India has been adjudged Winner in the themes ‘Collaborating for synergistic outcomes’ & ‘Governance & outcome-centric HR’ and bagged Runner-Up positions in ‘New age 24×7 Banking’ & ‘Tech-enabled ease of Banking’ themes.
Enhanced Access & Service Excellence (EASE) is an initiative by the Department of Financial Services (DFS) as part of the PSB Reforms Agenda and is currently under its fourth iteration which focuses on Collaborative Banking and the Digital Transformation of the PSBs.