Financial services soon to be part of doorstep banking by PSBs

Financial services will be a part of the doorstep banking services available to public sector bank (PSB) customers from October, according to finance minister Nirmala Sitharaman, writes The Economic Times.
 
The move is seen particularly benefiting senior citizens and those in the ‘divyang’ category, it said. Currently, only nonfinancial services such as pickup of cheques and demand draft are available through doorstep banking agents. 
 
The minister announced the decision during the release of the EASE 2.0 Index rankings on PSB performance from March 2018 to 2020. The EASE Index ranks PSBs based on their performance in various themes like responsible banking, governance and HR, credit offtake, customer responsiveness and ‘Udyamimitra’ for micro, small and medium enterprises. 
 
The overall score of PSBs improved by 37% between March 2019 and March 2020, with the average EASE Index score rising from 49.2 to 67.4 out of 100, the statement said. The sharpest improvement was made under the responsible banking theme.

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