State Bank of India, Bank of Baroda, and Union Bank of India have won the awards for best performing banks for PSB Reforms EASE 3.0, based on the EASE index.
These PSU banks have bagged the awards for tech-enabled ease of banking.
Indian Bank won the award for the best improvement from the baseline performance. Canara Bank, SBI, BoB, PNB and Union Bank of India won the top awards in different themes of the agenda EASE 3.0.
Participating in the awards ceremony to facilitate best performing banks, finance minister Niramala Sitharaman unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda EASE 4.0 for 2021-22– tech-enabled, simplified, and collaborative banking. Pankaj Jain, additional secretary, and Amit Agrawal, additional secretary, both from the department of financial services, and Rajkiran Rai G, chairman, Indian Banks Association (IBA), were present at the event.
PSBs in the green
After five years of losses, public sector banks have reported profits. PSBs have reported a healthy profit of Rs 31,817 crore in FY 2020-21 as compared to a loss of Rs 26,016 crore in FY 2019-2020.