Finance Minister unveils Doorstep Banking Services by PSBs - (09 Sep 2020)

Banking

Union Minister of Finance & Corporate Affairs inaugurated Doorstep Banking Services by PSBs and participated in the awards ceremony to felicitate best performing banks on EASE Banking Reforms Index. As part of the EASE Reforms, Doorstep Banking Services is envisaged to provide convenience of banking services to the customers at their door step through the universal touch points of Call Centre, Web Portal or Mobile App. Customers can also track their service request through these channels. The services shall be rendered by the Doorstep Banking Agents deployed by the selected Service Providers at 100 centres across the country. Financial services shall be made available from October 2020. Finance Minister Nirmala Sitharaman said banks are going to be the catalysts for economic revival and also urged them to adopt digital technologies for efficiency and growth.

At present, only non-financial services viz. Pick up of negotiable instruments (cheque / demand draft / pay order, etc.), Pick up new cheque book requisition slip, Pick up of 15G / 15H forms, Pick up of IT / GST challan, Issue request for standing instructions, Request for account statement, Delivery of non-personalised cheque book, demand draft, pay order, Delivery of term deposit receipt, acknowledgement, etc., are available to customers. The services can be availed by customers of Public Sector Banks at nominal charges. The services shall benefit all customers, particularly Senior Citizens and Divyangs who would find it at ease to avail these services. A common reform agenda for PSBs, EASE Agenda is aimed at institutionalizing clean and smart banking. It was launched in January 2018, and the subsequent edition of the program ― EASE 2.0 built on the foundation laid in EASE 1.0 and furthered the progress on reforms. PSBs have shown a healthy trajectory in their performance over four quarters since the launch of EASE 2.0 Reforms Agenda.

PSBs have adopted tech-enabled, smart banking in all areas, setting up retail and MSME Loan Management Systems for reduced loan turn-around time and PSB loans in 59 minutes. PSBs have instituted real-time visibility to retail and MSME customers on the status of their loans. Most branch-based services are now accessible from home and mobile, including in local languages. Bank of Baroda, State Bank of India, and erstwhile Oriental Bank of Commerce were felicitated for being the top three in the ‘Top Performing Banks’ category according to the EASE 2.0 Index Results. Bank of Maharashtra, Central Bank of India and erstwhile Corporation Bank were awarded in the ‘Top Improvers’ category basis EASE 2.0 Index. Punjab National Bank, Union Bank of India, and Canara Bank were also recognized for outstanding performance in select themes.

Tags : SERVICES DOORSTEP INAUGURATION