Banking Reform Roadmap

Banking Reforms Road-map is released by Ministry of Finance

• A report titled “Responsive & Responsible PSBs Banking Reforms Road-map for a New India”
• AIM: EASE – Enhanced Access and Service Excellence,

• Bank recapitalization plan for Public Sector Banks (PSBs) announced in October 2017. Under this plan 2.11 lakh, Crore of Capital will be infused Banks.
• This Bank Capital Infusion will be dependent on how PSBs performance on reforms above 6 themes and bank Boards will approve and monitor plans aimed at implementing these reforms.
• Whole Time Directors will be accountable and evaluated on their performance in implementing assigned reforms.

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Banking reforms roadmap

Theme 1: Customer Responsiveness

Ease for Customer Comfort

1. EASE of banking from the comfort of home
2. EASE in grievance redressed
3. EASE for senior citizens and the differently abled
4. EASE through forms simplification
5. EASE through pleasing ambiance
6. Introduction of EASE ranking Annually

Theme 2: Responsible Banking

Financial Stability, Improved Governance, and Ease for Clean & Prudent Business

1. Creation of a Stressed Asset Management Vertical (SAMV)
2. Corporate lending through rigorous due diligence Tie-up with Agencies for Specialised Monitoring (ASM) for clean & effective post-sanction follow-up in loans above Rs. 250 crore
3. Institute efficient practices for large consortium loans, minimum 10% exposure
4. Strict segregation of pre- and post-sanction roles & responsibilities
5. Ring fence cash flows
6. Differentiated Banking Strategy
7. EASE through transparent and robust OTS

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Furthering Financial Stability

1. Check aggressive and imprudent lending
2. Monetize realizable non-core assets
3. Rationalize overseas operations

Improving Governance

1. Board-approved strategic vision and business focus
2. Boards to evaluate the performance of Banks’ Whole Time Directors
3. Strengthening and empowerment of Boards

Theme 3: Credit Off-take

EASE for the borrower and proactive delivery of credit

1. Improving processes
2. EASE for the borrower
3. Proactive reach-out to borrowers
4. Strategy plans for key industry-based market segments

Theme 4: PSBs as UdyamiMitra for MSME

EASE of financing and bill discounting for MSMEs

1. Online application @Udyamimitra.com
2. Decision within 15 days
3. EASE of bill realization for MSMEs (through TReDS platform for bill-discounting)
4. EASE of ­financing for MSMEs
   • Having a board-approved policy for enhanced working capital to GST-registered MSMEs,
   • enabling MSME financing through cluster-based financing & FinTech,
   • time-bound and automated processing of MSME loan proposals
5. Single-point MSME Relationship Officers
   • For top-20 MSME accounts in every MSME-Specialised Branch
6. Revival Framework for stressed MSMEs
   • identifying all SMA-1/2 MSME accounts and implement revival framework

Theme 5: Deepening Financial Inclusion & Digitalisation:

EASE THROUGH NEAR-HOME BANKING, MICROINSURANCE, AND DIGITALISATION

1. EASE through near-home banking within 5 Kms
2. Social security through microinsurance (PM Suraksha Bima Yojana and PM Jeevan Jyoti Bima Yojana)
3. EASE through digital payments (issuing RuPay debit card, Aadhar seeding, Aadhar-enable Point of Sale)
4. Customer protection against cyber-frauds (ensuring refund against any unauthorized debit within 10 working days, real-time alerts for customer protection, free customer-level security updates for apps & Internet-based utilities)

Theme 6: Ensuring outcomes: Governance/HR

Developing personnel for Brand PSB

1. Reward select top-performers identifi­ed through a Performance Management System (PMS)
2. End-to-end digitized Annual Appraisal Reports
3. Specialization through job families
4. Mandate annual role-based e-learning programme for all officers and a fellowship & training programme for senior executives :

The Government of India has unveiled details of the bank recapitalization plan for Public Sector Banks (PSBs) announced earlier in October 2017.

See also:

FDI policy of India

RBI roadmap on NPA resolution