The Business Bytes
Mumbai, November 18, 2024 (TBB Bureau): Union Bank of India, one of the nation’s premier public sector banks, has been ranked as the 2nd Best Bank in the EASE 7.0 Reforms Index for the first quarter of the financial year 2024-25. This recognition highlights the bank’s consistent efforts in delivering excellence and driving progress in the public sector banking space.
The Enhanced Access and Service Excellence (EASE) initiative, introduced by the Department of Financial Services, Ministry of Finance, is a part of the Government of India’s comprehensive PSB Reforms Agenda. Now in its seventh iteration, EASE 7.0 focuses on the theme “Economic Development: Customer Delight, Resilient Banking”, evaluating public sector banks across five key themes.
Union Bank of India shone brightly under the theme ‘Banking towards Viksit Bharat,’ securing the top position. Additionally, the bank emerged as the 1st runner-up in three critical themes – Excellence in Customer Service; Effective Risk/Fraud Management, Collections, and Recovery; and Developing Employees for Emerging Banking Priorities.
Union Bank’s impressive performance in the EASE 7.0 index underscores its commitment to driving customer-centric innovation, strengthening risk management practices, and preparing its workforce to meet the evolving demands of the banking industry.
Over the years, Union Bank of India has consistently featured among the top performers in the EASE Reforms Index, showcasing its dedication to implementing reform initiatives effectively and setting benchmarks in the public banking sector.
