Adoption of sound lending practices and credit monitoring & recovery mechanism has been the highlight of the Bank’s performance in Q2 FY21-22
Union Bank of India has ranked 3rd in the index released for Q2 FY 2021-22 as per the report on EASE Reforms Index released by Indian Banks’ Association (IBA). Union Bank has shown steady progress to bag the honor for four consecutive quarters.
Union Bank of India has been consistently doing well in areas related to governance & human resources. With the adoption of sound lending practices and credit monitoring & recovery mechanism, the Bank has set the benchmark under the theme ‘Institutionalizing Prudent Banking’. Union Bank has carried forward the momentum from first quarter in registering outstanding achievements in the themes ‘Collaborating for synergistic outcomes’, ‘New age 24×7 Banking’ & ‘Tech- enabled ease of Banking’.
Enhanced Access & Service Excellence (EASE) is an initiative by the 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.