International Journal of Contemporary Research in Multidisciplinary

Introduction:

The financial sector is considered the foundation of any economy. In India, PSBs (Public Sector Banks) represent an essential part of the country’s government-owned banking sector. PSBs have been at the vanguard of mobilising resources from rural areas and extending banking services to the most inaccessible portions of the country, both of which are critically important for the function of our economy. Since PSBs are responsible for around 70% of all banking in the country, the government has a legitimate interest in frequently recapitalizing them to ensure their continued viability and credibility (Singh, 2016). The breakdown of many national banking systems occurred during the Global Financial Crisis (GFC) of 2007–2008. Indian banks with minimal exposure to the dangers of conducting business abroad avoided the catastrophic losses that may have occurred. However, it could not prevent the depressing impact of the recession on the Indian economy. A strong banking sector in it defines a strong economy. However, noticeable stress can be seen from 2015 between the PSBs’ lending systems. To address this issue Government of India (GOI) and Public Sector Banks (PSBs) came jointly in 2018 and launched Enhance Access and Service Excellence (EASE) reform. The primary objective of the EASE reforms was to enhance the performance of PSBs and to ensure financial stability, improved governance, and clean, commercially prudent business practices, as well as to enhance further the implementation of digitalisation, customer protection, doorstep banking, and financial inclusion.