Union Bank of India Ranks 2nd in EASE 5.0 Reforms Index for FY 2022–23

Union Bank of India Ranks 2nd in EASE 5.0 Reforms Index for FY 2022–23

Mumbai: Union Bank of India, a cornerstone of India’s public sector banking landscape, has achieved remarkable recognition by securing the prestigious second position in the EASE 5.0 Reforms Index for the fiscal year 2022–23. This accolade underscores the bank’s unwavering commitment to excellence and innovation in the realm of banking services.

At the heart of this achievement lies Union Bank’s resounding success across three pivotal themes of the EASE 5.0 reform agenda. Firstly, the bank’s digitally enabled customer offerings have set a new standard for convenience and accessibility in the banking sector. Secondly, its embrace of modern technology capabilities has propelled Union Bank to the forefront of technological innovation, ensuring seamless operations and enhanced efficiency.  Lastly, Union Bank’s unwavering dedication to employee development and governance exemplifies its commitment to fostering a culture of excellence and accountability.

The commendation ceremony, held in Mumbai on April 25, 2024, was graced by the esteemed presence of Dr. Vivek Joshi, Hon’ble Secretary of the Department of Financial Services, Ministry of Finance. Dr. Joshi’s recognition of Union Bank’s achievements serves as a testament to the bank’s exemplary performance and leadership in driving transformative change within the banking industry.

EASE, an acronym for Enhanced Access & Service Excellence, stands as a beacon of the Department of Financial Services’ commitment to reforming and revitalizing the public sector banking landscape. Union Bank’s success in EASE 5.0 reflects its steadfast dedication to the key priorities outlined by the initiative, including digitally enabled customer offerings, big data and analytics, modern technology capabilities, collaborative and development-focused banking, and employee development and governance.

Union Bank’s consistent top-ranking performance in the EASE Reform Index underscores its proactive approach to implementing reform measures and initiatives, cementing its position as a trailblazer in the Indian banking sector.