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 on 25.08.2021.  Hon’ble Union Finance Minister Smt. Nirmala Sitaraman presented awards to top performing banks.

Union Bank of India secured awards under following categories:

  • Winner in theme-wise awards
  • Governance & outcome-centric HR
  • Deepening Financial Inclusion & customer protection
  • 2nd runner up in theme-wise awards
  • Smart lending
  • Tech-enabled ease of banking
  • 1st runner-up in best improvement category for 47% improvement over the baseline.
  • 2nd runner-up for the EASE Reforms Index Award 2021 for overall performance.

Exceptional performance and initiatives:

  • Implemented a scientific and digitalized Performance Management System with high APAR measurability levels for more than 95% of Bank officers.

  • Set up of IT-based HR Deployment Decision Support System with best in class features and functionalities for postings and transfers

  • Best bank on EASE cyber-security maturity framework

  • 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
  • >70% long-term agri loans processed via loan management system