Finance Minister Nirmala Sitharaman launched the EASE 4.0 - Enhanced Access and Service Excellence - a common reform agenda for Public Sector Banks (PSBs) aimed at institutionalizing clean and smart banking.
Finance Secretary Debashish Panda announced that the contribution of employer (public sector banks) in the National Pension Scheme (NPS) for employee pensions is hiked to 14 per cent from the earlier 10 per cent. He added that the family members of those PSB bankers who lost their lives, will now get a pension of 30 per cent of the last drawn salary as against the earlier Rs 9,284.
Revenue Secretary Tarun Bajaj announced that overseas direct listing is under consideration and that the government may announce rules allowing companies to list overseas in the next budget in February 2022.
Through legislative amendment, the government is trying to ensure smooth trading of securities outside India, added Mr Bajaj. (Also Read: Government May Announce Overseas Listing Rules In Next Budget: Official )
EASE 3.0 was launched in February 2020, which was aimed at enhancing the ease of banking in all customer experiences, using technology, alternate data, as well as analytics. The 1st edition EASE 1.0 was launched in January 2018.
On her two-day visit to Mumbai, Finance Minister conducted the annual performance review of public sector banks for the financial year 2020-21 today, with the heads of all PSU banks.
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