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EASE Reform Index: PNB Tops List Of Best-Performing Public Sector Banks
EASE Reform Index: PNB Tops List Of Best-Performing Public Sector Banks: Details, Findings, Highlights
Punjab National Bank (PNB) has topped the list of public sector banks which have shown the best performance based on the government's EASE (Enhanced Access and Service Excellence) reform index.
EASE reform index is prepared by the Indian Banking Association (IBA) and Boston Consulting Group, commissioned by the Union Finance Ministry.
EASE reform index measures the performance of each PSB on 140 objective metrics across 6 themes.
1. Customer Responsiveness: EASE for customer comfort
2. Responsible Banking: Financial stability, governance for ensuring outcomes, and EASE for clean & commercially prudent business
3. Credit Off-take: EASE for the borrower and proactive delivery of credit
4. PSBs as UdyamiMitra: EASE of financing and bill discounting for MSMEs
5. Deepening Financial Inclusion & Digitalisation: EASE through near-home banking, microinsurance, and digitalization
6. Ensuring outcomes – HR: Developing personnel for Brand PSB.
Key Findings
PNB has been ranked first among public sector banks in the implementation of ‘reforms agenda’, followed by Bank of Baroda and State Bank of India.
PNB with a score of 78.4 out of 100 has been ranked first under the theme of EASE (Enhanced Access & Service Excellence).
PNB is followed by BoB (77.8), SBI (74.6), Oriental Bank of Commerce (69), Canara Bank (67.5) and Syndicate Bank (67.1).
6 Public sector banks which are under PCA framework of the RBI have also been ranked under the Index. The performance of PSBs is as shown Indian Overseas Bank (66.7), UCO Bank (64.1), United Bank of India (60.8), IDBI Bank (60.2), Central Bank of India (55.7) and Dena Bank (53.8).
