Bank of Baroda (Bank), one of India’s leading public sector banks, has been named the “Overall Top Performing Bank” in the EASE 4.0 Reforms Index for FY2021-22. Further, the Bank is ranked #1 in Smart Lending for Aspiring India and New Age 24X7 Banking and #3 in Tech-Enabled Ease of Banking, Institutionalizing Prudent Banking and Governance & Outcome-centric HR.
Smt. Nirmala Sitharaman, Hon. Union Minister of Finance & Corporate Affairs, felicitated the Bank at the awards function organised by the Indian Banks’ Association (IBA) on 16th September 2022.
Enhanced Access and Service Excellence (EASE) is a reforms initiative by the Department of Financial Services (DFS) for Public Sector Banks. The focus areas for EASE 4.0 were i) Digital Lending backed by Analytics ii) 24×7 Banking iii) Data-enabled Agricultural Financing and iv) Collaborating with the Financial Ecosystem.
Recognised as the Overall Top Performing Bank
Ranked #1 in Smart Lending and 24X7 Banking; Ranked #3 in Tech-Enabled Banking, Prudent Banking and Governance & HR
Shri Joydeep Dutta Roy, Executive Director, Bank of Baroda said, “Over the last few years, Bank of Baroda has been on a journey of transformation. We are delighted to receive this honour, which is a testimony to the reforms undertaken by the Bank. With technology at the centre, the Bank has been at the forefront taking various initiatives in the digital space to make banking easier and more convenient for our customers, while at the same time aimed at increasing internal efficiencies and reducing costs. My compliments to the entire Bank of Baroda team and our partners as we continue to raise the bar to build an institution that we are all proud of.”
“The EASE Reforms have played a big role in the transformation of the Bank. We would like to acknowledge the support & guidance received from the DFS, Government of India, our regulators and the IBA in making this possible,” added Shri Joydeep Dutta Roy.
Last year, in the EASE 3.0 PSB Banking Reforms Index, Bank of Baroda was ranked #2 overall.