Thursday, August 26, 2021

Union Bank of India Wins Awards under Ease 3.0 Reforms Index

  • 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 


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