Union Bank of India wins awards under Ease 3.0 Reforms Index

Mumbai : Ease 3.0 Reform agenda index results for Q4 FY 2021 was declared in the event organized by IBA in Mumbai recently.  Hon’ble Union Finance Minister Smt. Nirmala Sitaraman presented awards to top performing banks.

Union Bank of India secured awards in many categories including winner of theme-wise awards in Governance & outcome-centric HR and Deepening Financial Inclusion & customer protection. The Union Bank of India was adjudged second runner-up in Smart lending and also in Tech-enabled ease of banking. It was the first runner-up in best improvement category for 47% improvement over the baseline and the second runner-up for the EASE Reforms Index Award 2021 for overall performance.

The Union Bank of India Implemented a scientific and digitalized Performance Management System with high APAR measurability levels for more than 95% of Bank officers. It has also set up of IT-based HR Deployment Decision Support System with best in class features and functionalities for postings and transfers. It is also the first public sector bank to implement end-to-end digitalization of MSME credit limit renewals with approximately ₹ 3,000 crore of MSME loans processed in a straight through manner in FY’21.

-Odisha Age